International Financial Centres and global poverty: A response to Oxfam

Oxfam is a British charity devoted to the reduction of global poverty. In early March, it published a report, Off the Hook: How the EU is about to Whitewash the Worst Tax Havens.  The report claims that international finance centres (IFCs) such as the Bahamas, which impose no tax on corporate profits, harm the world's poor. It therefore laments the expected removal of several IFCs - Bahamas, Bermuda, British Virgin Islands, Cayman Islands, Guernsey, Hong Kong, Isle of Man, Jersey, and Panama - from the EU's "grey list" of "non-cooperative tax jurisdictions" (none being on the blacklist) ...