Illicit capital flows are the elephant in the EU-Africa summit room EurActiv More Countries Agree to Help U.S. Crack Down on Tax Dodgers The Wall Street Journal See also: US Prepares To Enforce 45 FATCA Pacts Tax-News, U.S. gives foreign banks more time on anti-tax dodge law Reuters, and Leaked … [Read more...]
Finance Sector
Links Apr 2
Cayman Islands’ government terminates Lord Blencathra’s lobbying contract The Bureau of Investigative Journalism See also: Lobbying row: Cayman Islands cut ties with Tory peer Lord Blencathra by mutual consent after revelations by The Independent … [Read more...]
Links Mar 31
Lord Blencathra’s contract with Cayman Islands stated he would lobby MPs and Lords The Bureau of Investigative Journalism A senior UK politician who denied he had ever lobbied MPs and peers on behalf of a Caribbean tax haven had signed a £12,000 per month contract that stated he would do so. See … [Read more...]
The Offshore Wrapper: a week in tax justice
The Offshore Wrapper is written by George Turner Tax avoidance in Africa – worse than we thought … [Read more...]
New book: The Political Economy of Offshore Jurisdictions
This new book adds further insights into the political economy of offshore, raising questions about why offshore has been off-limits for serious political discussion for so many decades and opening up discussion around offshore secrecy. A welcome addition to the emerging debate. … [Read more...]
Links Mar 28
Measuring OECD Responses to Illicit Financial Flows from Developing Countries Report examines OECD's members progress in tackling money laundering and transnational financial crime. See also: Money laundering, bribery and tax evasion: how to freeze illicit flows The Guardian … [Read more...]
Quote of the day: finance, truth and bullsh*t
From SOMO, an article about how financial sector interests have sabotaged European efforts to regulate the shadow banking sector. Our quote of the day, one in an occasional series, is from Belgian Green MEP Philippe Lamberts, who accused other MEPs of ‘delaying tactics’ and said: "I am not a … [Read more...]
Party politics pierces City of London for first time in centuries
William Campbell-Taylor, an Anglican priest who featured heavily in the final chapter of Treasure Islands (except in the US edition,) has become the first political party candidate ever to win a seat on the common council of the City of London. That's a record that stretches back a thousand years, … [Read more...]
Bermuda’s offshore sector tells local dissenters to f*** off
From the excellent Financial Secrecy Media Monitor: "Earlier this year the offshore financial sector in Bermuda launched a campaign called “Everybody’s Business” which aims to “educate Bermudians about the importance of international business to all sectors of the community”, and is sponsored by … [Read more...]
TJN response: the UK Law Commission and investment intermediaries
PRESS RELEASE The UK Law Commission consultation on the fiduciary duties of investment intermediaries: Response from the Tax Justice Network … [Read more...]
Links Mar 21
Luxembourg Signs Up to EU Savings-Tax Agreement, Ending Deadlock Bloomberg Bettel: “With Austria, Luxembourg can go ahead and give the green light for the EU savings directive”. See also: Austria, Luxembourg Accept EU Bank-Secrecy Law The Wall Street Journal - Bloc Promises to Push Switzerland, … [Read more...]
A small but telling victory in London’s offshore housing crisis
Guest blog by George Turner One to the most pronounced and damaging impacts of offshore finance in London is the housing crisis. In London a home is no longer a home, but an investment product. The offshore system allows questionable money from all over the world to be effectively laundered … [Read more...]
Links Mar 20
Havens set deadline for reporting investors’ tax details Financial Times (paywall) The British Virgin Islands, Liechtenstein and Jersey are among 44 countries that have set a deadline of September 2017 for reporting investors’ tax details to their home governments, under pioneer plans aimed at … [Read more...]
Links Mar 19
US Virgin Islands Lures Businesses With Tax Breaks International Business Times "These generous tax breaks don’t render the Virgin Islands a corporate or offshore tax haven, like such well-known rivals as Bermuda or the Cayman Islands ... That’s because the Virgin Islands’ tax benefits are legally … [Read more...]
