Treasure Islands: Tax Havens and the Men who Stole the World

Front Cover
Random House, Feb 18, 2011 - Business & Economics - 384 pages


Billionaire Warren Buffet, currently the third wealthiest man in the world, paid the lowest rate of tax among his office staff, including his receptionist.

In 2006 the world's three biggest banana companies did nearly 400 million worth of business in Britain but paid just 128,000 in tax between them.

In January 2009, US law enforcement fined Lloyds TSB $350 million after it admitted secretly channelling Iranian and Sudanese money into the US banking system.

Tax havens are the most important single reason why poor people and poor countries stay poor. They lie at the very heart of the global economy, with over half the world trade processed through them. They have been instrumental in nearly every major economic event, in every big financial scandal, and in every financial crisis since the 1970s, including the latest global economic downturn.

In Treasure Islands, Nicholas Shaxson shows how this happened, and what this means for you.

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LibraryThing Review

User Review  - SashaM - LibraryThing

This gets 5 stars for the content - This is a topic which many more people should be aware. and This book should be a must read for any person interested in economics, business and globalisation. The presentation in this book can sometimes be a little dry and occasionally repetitive. Read full review

LibraryThing Review

User Review  - NDJames - LibraryThing

This is no rant about a few greedy people sticking their money in the Caymans to get around the IRS, but a full-blown expose of the most insidious and least understood sector of global finance on the ... Read full review

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About the author (2011)

Nicholas Shaxson is the author of Poisoned Wells, the Dirty Politics of African Oil, and an experienced journalist who has written regularly for the Financial Times, The Economist, Vanity Fair and many others.

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