The location, operation and other sordid details of the safe haven is shrouded in layers of secrecy and clandestine deviations. To ascertain the number of such hiding places, the countries, the individuals or fronts may be beyond any organised government however modern or sophisticated they may be. It is the first world that harbours them to safe keep the money they give and collect or collect from the gullible L.D.Cs.
Our country is small and is like the “Beetle” that survives on the fumes of the “Gas Guzzlers”. For the size of the country and the facility with which those who send such money or even assigned such portion they received as their cut in various development and destructive deals have them safely stashed away in such places euphemistically known as “Safe Havens”.
Priority number one in this issue is to retrieve them for we are in desperate need of such funds like the beggar who has been robbed of his day’s collection.
What is stashed away is a substantial portion of our GDP. Are those countries, where they are stacked away, prepared to sympathise with us, a tiny little island or weeping willow and release those ill-gotten monies? Are the firms operating such hideouts prepared to lay bear the names, amounts and details of their clients? Certain unsuccessful attempts have already been made.
Even if they are made available, how long will the protracted legal battle take to realise the portion left after the payment of all types of fees that too in a hostile foreign environment which considered these as more technical tax manipulations or avoidance which may be visited by departmental denials of portions of such money. We are not likely to succeeding in ferreting out the money robbed from us by our people.
There is apparently no international body with the necessary judicial power and coercive authority to help in retrieving such “stacked-away” wealth that rightly belongs to the people of the country.
Only measure available appears to be to request the offenders to bring back the stacked away wealth and for the country to take away the portion entitled as tax in the maximum bracket. The country is at the mercy of marauders and powerful Mafia. Is it so naive as that?
Is there any other alternative?