This documentary presents a fascinating glimpse into tax havens and how the rich reduce their tax bills. Tax havens grab our imagination and attention, at once both mysterious, glamorous, but also suspicious and perhaps menacing. Often tax havens are tropical islands e.g. the British Virgin Islands, which only adds to the allure and mystique. But the bottom line is that tax havens have set up their legal and financial systems to take advantage of those who wish to reduce their tax bills. Often tax havens strategically set themselves up to cater to this market as a means of developing their economies. Of course the issue of tax avoidance has come to the fore in recent times as governments deal with deep fiscal problems, with austerity measures and tax increases biting hard for many.
With more than 20 millionaires in the UK cabinet, reporter Antony Barnett examines the financial affairs of some ministers and others who have helped the government. George Osborne says 'we're all in this together' but are ministers and top Tories paying the same rates of tax as the rest of us? Barnett visits a number of offshore tax havens around the world still under control of Britain, including the Cayman Islands and the British Virgin Islands, to find out more about tax avoidance ploys
Finance Documentaries: http://www.financedocumentaries.com/2011/11/how-rich-beat-taxman.html