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February 8th, 2008

Audio - U.S. senator aims to stop offshore tax havens

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Posted by: Julie Vorman
Tags: Regulation, Summit

carllevinpix.jpgMichigan Sen. Carl Levin, the Democrat who heads the U.S. Senate’s permanent subcommittee on investigations, says he hopes to get legislation passed soon that would ban the use of offshore tax havens used by American companies and investors to avoid paying an estimated $100 billion annually in taxes. ”They are using the Caymans in ways to avoid taxes and that is just totally unacceptable,” Levin told the annual Reuters Regulation Summit.

 

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