New York, haven on earth

Which is the world’s best tax haven? Mauritius, Cayman Islands? It’s New York City, according to Vodafone counsel Harish Salve, who was in form after winning the case in the Supreme Court last Friday. Replying to a question, Salve said mere low tax doesn’t make a place a tax haven, they are black holes where all kinds of money is parked, and no information goes out. In that sense, he added, the world’s most effective tax haven is the Island of Manhattan. New York banks will not give any information about anybody who is not an American citizen, Salve said, setting everyone laughing.