These sort of tax haven arrangements are commonplace with almost all multinationals, which basically means almost all non-SME corporates these days.

There's a very good book on the subject, which is pretty shocking even if you work in finance (but not offshore tax accountancy or law):

"Treasure Islands: Tax Havens and the Men Who Stole the World"

http://www.amazon.com/Treasure-Islands-Havens-Stole-World/dp...