Ethics and governance in the European Financial centers

Richard Murphy has reported that Las Vegas Review wrote that President Barack Obama’s plan to limit tax breaks for multinational companies will include an amendment that affects alleged tax havens at home, including Nevada and Delaware, a knowledgeable source in Washington, D.C., said. The yet-to-be-announced amendment will make sure that U.S. states do not replace offshore countries like Switzerland, Luxembourg and the Cayman Islands as tax havens for wealthy individuals and businesses, the source explained.

As the existence of Delaware and Nevada was the only argument that Luxembourg politicians and officials found to avoid the handing-over in question, it is a new example of the bad approach of this jurisdiction that need homines novi (new leaders).