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The after-tax return on any investment is what ultimately matters to an investor's net financial outcome, and the gap between pre-tax and after-tax returns can be surprisingly large depending on which instrument is used and how it is taxed. In the Indian

1. IntroductionThis weekend, I was in The Hague, going to see a long-time friend expatriated there to practice his profession in an international jurisdiction (I recommend the excellent blog dedicated to international justice, to which he participates