OFCs to minimise taxes is to send money offshore and keep it there, as Pfizer did.

ECONOMIST: Moving pieces

OFCs to avoid tax, regardless of where they are based and what tax regime they fall under.

ECONOMIST: Moving pieces

OFCs in its backyard, mainly because these tax havens depend so heavily on their big neighbour that they are bound to comply.

ECONOMIST: All together now | The

OFCs, and their home countries generally do little to stop them.

ECONOMIST: All together now

OFCs could make high-tax countries more attractive to foreign investors.

ECONOMIST: The less obvious uses of tax havens

OFCs for companies is the prospect of lower tax bills.

ECONOMIST: Moving pieces

OFCs, but they choose not to do so.

ECONOMIST: The less obvious uses of tax havens

These domestic measures need to be complemented by tighter regulatory oversight of banks and OFCs by developed countries in order to ensure that financial institutions do not facilitate the absorption of illicit capital, he says.

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OFCs may offer other benefits too.

ECONOMIST: The less obvious uses of tax havens

OFCs to cut their tax bills.

ECONOMIST: Moving pieces