The Paradise Papers .... Yawn

The failure of enforcement (Pdf)

Why high-tax countries fail to stop profit-shifting:

Tax authorities have incentives to go after transfer mispricing involving other high-tax countries

This crowds out enforcement on tax havens

We analyze new data showing that in practice, almost all enforcement is against other high-tax countries →In effect, high-tax countries are stealing from each other while letting tax havens flourish.

H/T FT/Alphaville