From German Herald

Finance ministers in Germany have taken Britain to task over UK-dependent Caribbean tax havens where tens of thousands of German companies have set up offices to avoid paying taxes at home.

A ‘post box’ companies scandal has rocked the German business world, which prides itself on straight dealing and fiscal responsibility.

Now figures show that 40 per cent of all post box firms in Germany are technically based in the British Virgin Islands.

Both island groups are officially British overseas territories but are run independent of the UK government and the EU.

One office building alone in the Cayman Islands – infamous in the German media – is said to be a front for 18,000 companies.

Now German finance minister Wolfgang Schauble has raised the scandal with Britain saying: “We are discussing this privately.”

For more on this story go to:

http://germanherald.com/news/Germany_in_Focus/2013-04-18/2375/Germany_Raps_UK_Tax_Havens