Tax doesn't have to be taxing: London's 'onshore' finance industry and the fiscal spaces of a global crisis
Wainwright, Thomas (2011) Tax doesn't have to be taxing: London's 'onshore' finance industry and the fiscal spaces of a global crisis. Environment and Planning A, 43, (6), 1287-1304. (doi:10.1068/a43528).
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Description/Abstract
In this paper I will explore London’s onshore finance industry and how it facilitates corporate tax avoidance programmes. In doing so, I will discuss how financial elites design transactions and corporate activities so as to minimise their exposure to taxation, and how these structures are shaped by the international geographies of taxation. I will investigate an area of London’s financial sector that has previously been neglected by geographers and social scientists. Finally, I turn to illustrate how tax minimisation strategies are implemented, through the example of residential mortgage-backed securitisation, and how tax-minimisation strategies made securitisation a practical tool for financiers. This provides new insights into how taxation elites facilitated the increased financialisation of Britain’s economy and the severity of its exposure to the credit crunch.
| Item Type: | Article |
|---|---|
| ISSNs: | 0308-518X (print) 1472-3409 (electronic) |
| Subjects: | H Social Sciences > HF Commerce H Social Sciences > HG Finance |
| Divisions: | Faculty of Business and Law > Southampton Management School > Strategy & Innovation |
| Item ID: | 340862 |
| Date Deposited: | 06 Jul 2012 08:22 |
| Last Modified: | 06 Jul 2012 08:22 |
| Contributors: | Wainwright, Thomas (Author) |
| Date: | 3 February 2011 |
| Status: | Published |
| URI: | http://eprints.soton.ac.uk/id/eprint/340862 |
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