One of the most important live initiatives currently in the field of tax justice and international financial transparency is the OECD's Common Reporting Standards (CRS,) a system of automatic information exchange which we have broadly welcomed - though with some gripes - here. Now it turns out … [Read more...]
Finance Sector
Links Sep 8
Australia: Calls grow for inquiry into tax avoidance tactics of multinationals The Sydney Morning Herald See also: Shifting sands: push for government to crack down on corporate profits The Sydney Morning Herald Myanmar: Crackdown on tax dodgers has tycoons racing to file income declarations, … [Read more...]
Financial globalisation not so great – Bank for International Settlements
We don't have time today to do this one justice, but it's an important pair of articles on FT Alphaville - here and here, which are introduced, if not fully summarised, thus: "The consensus among Western policymakers is beginning to shift, however. The IMF officially changed its tune in 2011 by … [Read more...]
Links Sep 5
Developing Countries Could Reap Trillions By Squashing Financial Secrecy, Paper Says Wall Street Journal 'Giant international companies receiving undue tax exemptions' IPPNews "Mega International companies operating in Tanzania, Zambia and Angola are receiving undue tax exemptions through … [Read more...]
Links Sep 4
The trillion dollar scandal of financial secrecy Financial Times (paywall) Guest blog by By David McNair of the ONE Campaign. See also: ‘Web of corrupt activity’ costs poorest countries a trillion dollars a year The Guardian, and our blog yesterday The Trillion Dollar Scandal – ONE’s new report … [Read more...]
The nonsense of shareholder ownership
Neoliberals claim that shareholders are the owners of companies. This is nonsense, argues Austin Mitchell MP and Prem Sikka, Professor of Accounting, University of Essex in this joint paper published in Left Foot Forward. … [Read more...]
Links Sep 3
It Is Time To Unmask The Corrupt in Switzerland Transparency International Banks agonise over US tax evasion ‘guilt’ swissinfo Most Dutch banks are 'vague' about tax avoidance: fair banking report DutchNews.nl … [Read more...]
Links Sep 2
Africa trades billions in secret crude oil deals, experts warn The East African Energy Blog Expert Insight Into The World Of Offshore Company Incorporations Mondaq Some very interesting data and insights on offshore incorporations, from a report produced by one of the world's largest providers … [Read more...]
UK-Swiss tax receipts slow to a trickle
Way back then, when Britain and Switzerland had just signed a new so-called "Rubik" tax deal promising to "regularise untaxed assets", the UK government was promising that the deal would reap £4-7 billion. OK, many people in Britain thought: it was rather corrupt and offensive, but that was a lot … [Read more...]
Links Sep 1
Australia: Project Wickenby identifies b in tax liabilities Australian Financial Review For background on Project Wickenby, Australia’s biggest tax sting, see here and here. Big banks stall on global tax evasion crackdown Australian Financial Review New Zealand Companies Office’s $612Mn … [Read more...]
Video: how London fuels corruption
Anthea Lawson of Global Witness, speaking at TEDx in the British Houses of Parliament. Enjoy. For more on the British role, see here or here or here. … [Read more...]
Links Aug 29
Kenya votes to reintroduce capital gains tax Financial Times (paywall) "The move, which was approved by parliament this week but has yet to be signed into law by President Uhuru Kenyatta, will put Kenya in line with other top African economies" Expectations too high for Pakistan-Swiss talks … [Read more...]
Links Aug 28
Delivering Development After 2015 Center for American Progress "Mobilizing domestic resources is the main mechanism for achieving goals at the national level." G-20 Plans For World Without Tax Evasion Forbes Investors should address aggressive corporate tax planning Pensions & … [Read more...]
Links Aug 27
Africa losing revenue due to faulty treaties - tax experts The Star New UK anti-corruption rules unveiled for oil and mining companies Global Witness … [Read more...]
Shadow banking: why tax havens increase financial risks
From a 2013 paper by Thomas Rixen, another set of arguments why tax havens have helped generate financial risks. The paper itself argues that financial regulatory competition - core TJN fare - is much overlooked. He focuses on: "an aspect that has so far been under-analyzed in the … [Read more...]
