Update: Part 2 is here. As the political dust settles on the Panama papers and the anti-corruption summit, the focus is now moving to concrete solutions. In June 2016 the European Union is expected to review its anti-money laundering directive, including controversial rules on the beneficial … [Read more...]
Archives for 2016
Links May 19
How morally fit is the West to lead a global campaign on corruption? The New Times Rwanda See also our earlier blog Anti-corruption summit: UK climbdown, but momentum grows, and Tax Justice Focus – The Corruption Issue How Panama Papers May Become a Boon for Cash-Strapped Argentina … [Read more...]
Links May 18
It's Up to Governments to Stop Enabling Corruption Bloomberg Editorial - Panama Papers: Money talks, but the pen is mightier than the sword The Malta Independent See also: Malta: Panama Papers - minister Mizzi and chief of staff Schembri chose Swiss bank’s Panama subsidiary for bank account … [Read more...]
Links May 16
ActionAid report on developing countries at risk from tax havens Global Alliance for Tax Justice Pakistan: Efforts being made to access $200 billion stashed in Swiss banks: Federal Law Minister Daily Pakistan Pakistan: Parliament session begins, PM to answer questions regarding Panama Leaks … [Read more...]
Links May 13
The world’s hidden wealth Prospect Magazine By TJN's @alexcobham and @nickshaxson To end corruption, start with the US and UK. They allow it in broad daylight The Guardian See also our earlier blog Anti-corruption summit: UK climbdown, but momentum grows, and Tax Justice Focus – The … [Read more...]
Anti-corruption summit: UK climbdown, but momentum grows
The UK government has failed to deliver a decisive blow against financial secrecy at its Anti-Corruption Summit. David Cameron failed to convince or compel leaders of British overseas territories and crown dependencies to end their hidden ownership vehicles, despite having called for such a move … [Read more...]
Britain’s secrecy web: no corpses on the street, no problem
On the occasion of a global anti-corruption summit in London, Tom Burgis has written a superb long investigation into the City of London for the Financial Times -- read it, if you can get a copy. As a teaser: "For Andrea, the contrast between the American and British responses to BSI’s … [Read more...]
What Would a Good Result for This Week’s London Anti-Corruption Summit Look Like?
This briefing presents different shades of what success would look like at this week's international Anti-Corruption Summit in London -- and what to look for when the announcements start to be made. Tax havens or secrecy jurisdictions aren’t just about tax: the financial secrecy offered, together … [Read more...]
Links May 11
India to tax Mauritius investments for first time since 1983 Reuters See also: Mauritius investors to be taxed from April 2017 Business Standard LuxLeaks prosecutors seek jail term of 18 months for whistleblowers The Guardian See our recent blog Will Antoine Deltour become a prisoner of … [Read more...]
Support grows for our withholding tax policy against Tax Haven USA
From the former UK Prime Minister, Gordon Brown, writing in The UK's Guardian newspaper: "In addition to a comprehensive European blacklist of tax havens as the first step to a global blacklist, we should agree that British overseas territories and crown dependencies that fail to comply cannot be … [Read more...]
Links May 10
Corruption can no longer be dismissed as a developing world problem The Guardian See also: Tax Justice Focus – The Corruption Issue UK overseas territories resist calls for concessions to end tax secrecy The Guardian A design flaw in Obama’s new Panama Papers rule could help shell companies … [Read more...]
Links May 9
ICIJ releases database revealing thousands of secret offshore companies Searchable database displays more than 300,000 entities from the Panama Papers and Offshore Leaks investigations Panama Papers source breaks silence over 'scale of injustices' The Guardian "Whistleblower says leak of 11.5m … [Read more...]
What if tax reform was a fundamental human right?
In January we blogged our 2016 Tax Justice and Human Rights essay competition, in partnership with Oxfam. It was a competition aimed at legal students and professionals, seeking ideas on how human rights law can be used in the fight against tax dodging. The winning student submission was from … [Read more...]
More than $12 trillion stuffed offshore, from developing countries alone
From The Guardian: "More than $12tn has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit. . . . The analysis, carried out by … [Read more...]
Panama Papers: source issues a tax justice document
The source for the "Panama Papers" data leaks, originally via Germany's Süddeutsche Zeitung, has issued a statement expressing mixed feelings about the world's reactions to the leaks. It is a devastating statement of tax justice and the main purpose of this blog is really to ensure that our readers … [Read more...]
