The New York Times had this good report and overview in general on the conflicts companies run into, when in an effort to "minimize" taxes, they end up paying very low or no taxes in foreign tax havens.
Of course they leave a very unhappy tax man at home, who is thinking about getting even. Those strategies are very often developed by reputable financial engineers and should stand any scrutiny. Often they don't. Hence also the question: is it worthwhile?
I personally believe that those tax shelters will go away in an age where every (generally large) government is hungry for taxes and will stand up against those (generally small) tax shelters. Just wait and see one of those G8 to 20.
Here it goes to the NYT article:
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