February 23, 2008 - Phil Hodgen

More evidence of FAIL in the “hide and lie” tax strategy

Not to be redundant and beat a dead horse about this topic, but I was shocked, shocked to hear yet another example of tax haven secrecy drop messily into the FAIL bucket.

This time, it’s Lichtenstein. It’s a beautiful place. (I’ve been there).

And this time it is the U. K. tax authorities who had a DVD full of tax data fall into their bureaucratic lap via espionage or beings from beyond the grave.

And yes I know full well that the German government is also exceedingly cranky about Lichtenstein and the blowback in Germany is profound.

The lawyers and bankers in Lichtenstein are first rate. The laws of the country are water-tight. Yet this stuff happens. It doesn’t really matter HOW the information leaks out. The fact is, that it did. And now there are a lot of nervous people in Britain who thought that the “hide it and lie” tax strategy would work.

As long as there is a human being in the equation who is not you, secrecy can fail. If you want to know exactly when, ask Mr. Murphy.

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