The global minimum corporate tax rate on corporate profits, defended by the US, the IMF and under discussion at the G20, in addition to responding to the internal needs of US capital to stay ahead in the competition with China and to be instrumental in the formation of a new Western bloc, points to an internal reorganization of each national bourgeoisie after 12 years of crisis of accumulation
We are told of tax havens as a kind of small parasitic states stealing tax revenues from large states by eroding their revenue-raising capacity and social policies. Nothing could be more untrue. Tax havens were established as such as a result of the deliberate policies of large states, Germany, France, Great Britain, the USA… and Spain, whose relationship with Andorra and Gibraltar fits into that general pattern.