From Prof. Colin Mayer of Oxford’s Saïd Business School, author of the book in the image: “The corporation is a rent extraction vehicle for the shortest-term shareholders.” That's quite a statement, and it comes via Martin Wolf in the Financial Times. The FT article discussing shareholder value … [Read more...]
Archives for 2014
Links Aug 26
German trust sues Swiss bank over vanished money from former Communist East Reuters Zimbabwe: The Hedge Fund and the Despot Bloomberg Businessweek Story involves offshore opaque dealings via a BVI shell company … [Read more...]
Risk mining: what tax avoidance is, and exactly why it’s anti-social
Recently we wrote about a remarkable blog by Jolyon Maugham, a tax barrister, a view from the front lines, which we'll repeat again today, because it's so startling: "I have on my desk an Opinion – a piece of formal tax advice – from a prominent QC at the Tax Bar. In it, he expresses a view on the … [Read more...]
The August 2014 Taxcast
In the latest Tax Justice Network podcast: August 2014, Edition 32: When was the last time you used a $100 bill, a 500 euro note or a 1,000 Swiss Franc note? We look at how Western banks and Treasuries are facilitating crime through high denomination bills. Also, tax haven reputation … [Read more...]
Links Aug 22
Developing nations need more than words from G20 tax reform The Conversation See also: G20 to press for 'rapid timeline' for exchange of tax information The Economic Times New Zealand Prime Minister John Key, the Whale Oil Blog, and International Organized Crime naked capitalism Story includes … [Read more...]
Links Aug 21
Can Taxing the Wealthy Strengthen Democracy? The Washington Post Ghanaian Government Asked To Tighten Up On Transfer Pricing Tax-News See TJN's Transfer Pricing page here. Cayman: Financial firm sues employee over client information leak Cayman News Service … [Read more...]
Links Aug 20
Swiss sanctions dilemma over Russia BBC Swiss Private Banks: Not a Pretty Picture Wall Street Journal … [Read more...]
Links Aug 19
“Tax is the Lifeblood of Democracy”: An Interview with John Christensen of the Tax Justice Network Spirit of Contradiction Australia: Miners in a royal spin over tax contribution The Sydney Morning Herald Pakistan: Our Swiss dilemma The News on Sunday Monaco $400 Million Penthouse Secrecy … [Read more...]
A Law Unto Themselves – Eva Joly discusses her fight against high level corrupt practices
In this half-hour BBC interview with renowned lawyer Helena Kennedy, investigative judge Eva Joly (a great friend of TJN) talks about her life fighting corrupt activities at the highest echelons of business and politics. … [Read more...]
The Boys Who Won’t Say No
Are tax barristers enriching themselves by signing-off on dodgy legal opinions relating to tax avoidance? Surely not. The legal profession is a bastion of probity and wouldn't tolerate such shenanigans. Or maybe they would. … [Read more...]
Links Aug 15
Ending poverty devex Switzerland proposes severe punishment for bank secrecy breach Zee News A fresh setback to India's efforts to get details of the so-called HSBC list from Switzerland. See also: Swiss Federal Council advocates better protection of bank client data Kuwait news Agency, … [Read more...]
Quote of the day – on trusts and public registries
Both G8 and G20 have committed to tackling tax haven secrecy. In the past 18 months they have made specific commitments to create registers of beneficial ownership of companies, though we are far from convinced they are prepared to take every necessary step to prevent crooks from hiding behind … [Read more...]
Links Aug 14
Risk-Mining the Public Exchequer David Quentin A major contribution to the debate on tax avoidance. See also comment from Tax Research UK here, and David Quentin's blog here. How To Launder Money Like a Chinese Billionaire Huffington Post Asset tracing: Follow the money swissinfo / … [Read more...]
The Offshore Wrapper: a week in tax justice #28
US and African leaders talk tough on illicit finance Last week saw the Africa-US summit meeting in Washington DC. The Summit was an opportunity for President Obama and his officials to meet many African heads of state. It was also a shot in the arm for Africa’s airline industry. The welcome news … [Read more...]
Links Aug 13
Pakistan: Government declares tax evasion as money laundering The Nation Cayman: Tax authority ordered to pay court costs Compass Cayman Cayman companies challenged exchange of tax and beneficial ownership information with Australia. Illicit capital flowing out of Africa often benefits … [Read more...]
