Countries are seeking help to deal with corporate tax avoidance

PORT ROYAL, at the mouth of Kingston harbour, was once the largest city in the Caribbean, its population swollen by privateers paid by the English and the Dutch to attack Spanish ships. When the practice of issuing such “letters of marque” faded in the 17th century, crews went rogue. As pirates, they continued to use the Jamaican port as their base and to spend their loot there, earning it a reputation for unparalleled debauchery.Jamaica still has a piracy problem, but today’s buccaneers are in surrounding territories. Unenamoured by Jamaica’s 25% corporate income-tax rate, some international firms with operations there find ways to shelter profits using the British Virgin Islands and other nearby tax havens.
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