As governments around the world deliver huge bailout packages to support crumbling economies amid the COVID-19 crisis, PMs from Denmark and Poland announced a withdrawal of further financial aid to companies registered in offshore tax havens.
So what?
While public health, national security and bolstering businesses continue to dominate political agendas, governments’ ability to weather the crisis, deliver the right level of financial aid, and rebuild financial health in a post-coronavirus world will continue putting pressure on good business behaviour. Will tax havens, often seen as ‘bane of modern economies’ and linked to tax avoidance and offshoring funds, become a thing of the past in a post-COVID world?
Signal spotter: Madhu Ardhanari
Photo by Brusk Dede on Unsplash
