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The Champion

September - October 2016 , Page 26 

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Turning the Tide: The US Addresses Its Role as a Tax Haven

By Kathryn Keneally and Michael J. Scarduzio

The United States enjoys the world’s most stable currency and financial system. Even in the most challenging of times, this nation also offers one of the most stable political environments, with built-in checks and balances and a long history of free elections and the peaceful transition of power. These core principles attract global investors and those who seek a safe haven for their funds outside home countries with less security and less stable histories.

The U.S. banking and financial system, and other U.S. investments such as real estate, are also prime targets for those who would seek to evade the tax systems of their home countries, and for those looking to hide the proceeds of unlawful conduct. For the past eight years and counting, the U.S. government has looked abroad to enforce U.S. laws against those who use the banking systems and secrecy laws of other countries to facilitate U.S. tax evasion. In response, much of the world has commented that the U.S. laws,

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