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Offshore Finance and Small StatesGlobal Financial Governance and Tax Competition

Offshore Finance and Small States: Global Financial Governance and Tax Competition [Sovereignty, and the sovereign right to tax (or not), rest within the structure of the state. This state-centric perspective may be subject to criticism for ignoring other, non-state, influences on the lives of citizens.1 However, the situation prevails that it is the state, with its attendant structures and institutions, which remains concerned with the well-being of its residents and citizens. Whether that concern involves a minority or a majority, nevertheless revenue is required to satisfy expectations for political goods. State revenue is generally collected via either tariffs or taxes, yet the scale and extent of this collection may be manipulated to achieve a variety of purposes beyond simply government operations. This manipulation may be intended to attract new or additional sources of revenue to the state. These efforts lead observers to characterize the result as a ‘competitive’ state, for the government strives to enhance the political goods available to its citizens, while competing with other states (who also seek to enhance their public’s welfare).2 Among the political goods pursued are jobs (or full employment), improved infrastructure, improved educational opportunities, and additional business opportunities ancillary to the investment attracted to the state.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Offshore Finance and Small StatesGlobal Financial Governance and Tax Competition

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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2008
ISBN
978-1-349-35693-5
Pages
47 –67
DOI
10.1057/9780230234925_3
Publisher site
See Chapter on Publisher Site

Abstract

[Sovereignty, and the sovereign right to tax (or not), rest within the structure of the state. This state-centric perspective may be subject to criticism for ignoring other, non-state, influences on the lives of citizens.1 However, the situation prevails that it is the state, with its attendant structures and institutions, which remains concerned with the well-being of its residents and citizens. Whether that concern involves a minority or a majority, nevertheless revenue is required to satisfy expectations for political goods. State revenue is generally collected via either tariffs or taxes, yet the scale and extent of this collection may be manipulated to achieve a variety of purposes beyond simply government operations. This manipulation may be intended to attract new or additional sources of revenue to the state. These efforts lead observers to characterize the result as a ‘competitive’ state, for the government strives to enhance the political goods available to its citizens, while competing with other states (who also seek to enhance their public’s welfare).2 Among the political goods pursued are jobs (or full employment), improved infrastructure, improved educational opportunities, and additional business opportunities ancillary to the investment attracted to the state.]

Published: Sep 12, 2015

Keywords: Foreign Direct Investment; Economic Cooperation; Money Laundering; Financial Action Task Force; Outbound Foreign Direct Investment

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