Offshore Financial Centres

    Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review

    Abstract

    This chapter assesses the role of the EU in the regulation of tax evasion and tax avoidance. This role has historically been constrained by institutional limits on EU policy in the area of direct taxation and a severe collective action problem extenuated by an EU membership which includes a number of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU policy has subsequently entered into a period of accelerated development. Many obstacles that previously seemed intractable are being transcended and complementarities between EU and US policy are emerging to form a nascent, inchoate and still incomplete multilateralism. The chapter develops this analysis of creeping policy competence in the EU and an emergent regulatory assemblage.
    Original languageEnglish
    Title of host publicationEurope and the Governance of Global Finance
    EditorsDaniel Mugge
    Number of pages15
    Place of PublicationOxford
    PublisherOxford University Press
    Publication date2014
    Pages156-170
    Chapter11
    ISBN (Print)9780199683963
    ISBN (Electronic)9780191763410
    DOIs
    Publication statusPublished - 2014

    Cite this

    Wigan, D. (2014). Offshore Financial Centres. In D. Mugge (Ed.), Europe and the Governance of Global Finance (pp. 156-170). Oxford: Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199683963.003.0011
    Wigan, Duncan. / Offshore Financial Centres. Europe and the Governance of Global Finance. editor / Daniel Mugge. Oxford : Oxford University Press, 2014. pp. 156-170
    @inbook{535457ffb29649cd9981d7cc5be66b71,
    title = "Offshore Financial Centres",
    abstract = "This chapter assesses the role of the EU in the regulation of tax evasion and tax avoidance. This role has historically been constrained by institutional limits on EU policy in the area of direct taxation and a severe collective action problem extenuated by an EU membership which includes a number of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU policy has subsequently entered into a period of accelerated development. Many obstacles that previously seemed intractable are being transcended and complementarities between EU and US policy are emerging to form a nascent, inchoate and still incomplete multilateralism. The chapter develops this analysis of creeping policy competence in the EU and an emergent regulatory assemblage.",
    keywords = "Tax evasion, Tax avoidance, Tax havens, Regulation, EU, Policy instruments, Multilateralism",
    author = "Duncan Wigan",
    year = "2014",
    doi = "10.1093/acprof:oso/9780199683963.003.0011",
    language = "English",
    isbn = "9780199683963",
    pages = "156--170",
    editor = "Daniel Mugge",
    booktitle = "Europe and the Governance of Global Finance",
    publisher = "Oxford University Press",
    address = "United Kingdom",

    }

    Wigan, D 2014, Offshore Financial Centres. in D Mugge (ed.), Europe and the Governance of Global Finance. Oxford University Press, Oxford, pp. 156-170. https://doi.org/10.1093/acprof:oso/9780199683963.003.0011

    Offshore Financial Centres. / Wigan, Duncan.

    Europe and the Governance of Global Finance. ed. / Daniel Mugge. Oxford : Oxford University Press, 2014. p. 156-170.

    Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review

    TY - CHAP

    T1 - Offshore Financial Centres

    AU - Wigan, Duncan

    PY - 2014

    Y1 - 2014

    N2 - This chapter assesses the role of the EU in the regulation of tax evasion and tax avoidance. This role has historically been constrained by institutional limits on EU policy in the area of direct taxation and a severe collective action problem extenuated by an EU membership which includes a number of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU policy has subsequently entered into a period of accelerated development. Many obstacles that previously seemed intractable are being transcended and complementarities between EU and US policy are emerging to form a nascent, inchoate and still incomplete multilateralism. The chapter develops this analysis of creeping policy competence in the EU and an emergent regulatory assemblage.

    AB - This chapter assesses the role of the EU in the regulation of tax evasion and tax avoidance. This role has historically been constrained by institutional limits on EU policy in the area of direct taxation and a severe collective action problem extenuated by an EU membership which includes a number of ‘tax havens’. The chapter argues in consequence that policy success relies on an admixture of unilateral innovation and mutually reinforcing policy instruments. In the context of the global financial crisis and acute concerns regarding fiscal capacity US intervention has had a catalytic effect. EU policy has subsequently entered into a period of accelerated development. Many obstacles that previously seemed intractable are being transcended and complementarities between EU and US policy are emerging to form a nascent, inchoate and still incomplete multilateralism. The chapter develops this analysis of creeping policy competence in the EU and an emergent regulatory assemblage.

    KW - Tax evasion

    KW - Tax avoidance

    KW - Tax havens

    KW - Regulation

    KW - EU

    KW - Policy instruments

    KW - Multilateralism

    U2 - 10.1093/acprof:oso/9780199683963.003.0011

    DO - 10.1093/acprof:oso/9780199683963.003.0011

    M3 - Book chapter

    SN - 9780199683963

    SP - 156

    EP - 170

    BT - Europe and the Governance of Global Finance

    A2 - Mugge, Daniel

    PB - Oxford University Press

    CY - Oxford

    ER -

    Wigan D. Offshore Financial Centres. In Mugge D, editor, Europe and the Governance of Global Finance. Oxford: Oxford University Press. 2014. p. 156-170 https://doi.org/10.1093/acprof:oso/9780199683963.003.0011