Worstall on Cyprus and Russians
By David Henderson
In response to my post earlier today, Tim Worstall wrote me. He quoted this from my review:
We have examples of highly extractive governments even in the modern world. One shocking one, to me at least, is the case of Uzbekistan.
Then he added:
This brought a wry smile. I’ve been arguing for a week or so that the Russians in Cyprus story isn’t about dodging Russian taxes which are, legally at least, quite low. Rather, it’s about escaping an extractive state. The extra legal exactions which both those in power and the mafia make upon those with money in Russia. Far from fleeing a tax jurisdiction Russian money in Cyprus is looking for an honest legal jurisdiction.
He makes the point in more detail here.