Domestic Resource Mobilisation and Illicit Financial Flows Global Alliance for Tax Justice Hong Kong money laundering and terrorism financing reports hit record high South China Morning Post Ukrainians shocked as politicians declare vast wealth Reuters In 44 years, India lost at least Rs 17 … [Read more...]
Finance Sector
London and the Finance Curse: the view of a top development economist
The Globalist has just published an article by Helmut Reisen, former Head of Research at the OECD's influential Development Centre, in which he discusses the developmental impact of the recent fall in the value of sterling. He comes to similar conclusions to those we blogged last month; allowing … [Read more...]
Links Oct 28
Tax Haven Free Zones in Spain Global Alliance for Tax Justice Aggressive tax avoidance raises risks for investors Financial Times (subscription) Is the Kenya Revenue Authority finally finding its feet on fighting tax evasion? Standard Media EY Created Facebook’s Tax Plan. And Lo, It Was Good, … [Read more...]
Links Oct 26
Despite global efforts in fighting tax dodging: ever more money hidden in tax havens Sven Giegold Developing Countries and International Institutional Architecture on Financial Transparency: Global Forum on Transparency and Exchange of Information for Tax Purposes CBGA A Conversation with … [Read more...]
Links Oct 24
UN Expert Urges Next UN Chief to Focus on Ending Tax Havens ABC News France: Constitutional Council rejects register of trusts Challenges (In French) The anatomy of the Cayman Islands offshore financial centre: Anglo-America, Japan, and the role of hedge funds Review of International Political … [Read more...]
Links Oct 21
Number 1 recommendation of Independent UN Expert's report is for a UN Global Tax Body Global Alliance for Tax Justice BRICS on #taxjustice Global Alliance for Tax Justice European commission to resurrect overarching corporate tax proposals The Guardian UK’s failure to rein in tax havens hinders … [Read more...]
Brexit, Pound Sterling, and the Finance Curse
The significant fall in the value of the pound Sterling since the Brexit vote is likely to increase retail price inflation in Britain in the coming year. Many low income households will suffer steep rises in their costs of living. But in the long run might Sterling’s decline help rebalance the … [Read more...]
Links Oct 19
UN wants to abolish tax havens worldwide Dawn GUE/NGL MEPs - blog on the European Parliament’s Committee of Inquiry into the Panama Papers Deltour: We need EU-level protection for whistleblowers Rudolf Elmer: Multinationals and rich individuals are cheating civil society BNP Paribas executives … [Read more...]
Links Oct 17
UN urged to hold conference on abolishing tax havens The Nation Inequality, business and human rights: the new frontier? Open Democracy FACT Coalition Welcomes Rule to Stem Multinational Corporate Tax Avoidance BRICS countries keen on reining in tax-dodging MNCs says India's Economic Relations … [Read more...]
Links Oct 12
Singapore shuts down 2nd Swiss bank, Falcon, & fines UBS, in crackdown re Malaysian sovereign fund 1MDB scandal swissinfo See also Falcon Bosses Ignored Staff Warnings on 1MDB finews, and (from July 2016) How Malaysia’s 1MDB Fund Scandal Reaches Around the World Bloomberg Swiss banks chasing … [Read more...]
Links Oct 10
Australia: Oil and gas tax may raise no extra revenue for decades ABC News See also: Turnbull government called on to explain where Australia's offshore gas wealth is going The Sydney Morning Herald #Appletax ruling: "the need for a new way of taxing profits" ICRICT / Global Alliance for Tax … [Read more...]
Switzerland seen backing down on supporting tax haven USA
In July we wrote a blog entitled Luxembourg backing down on supporting tax haven USA. Now it's Switzerland's turn. This concerns the OECD's Common Reporting Standard (CRS,) a global scheme to share banking information. The United States isn't a participating jurisdiction: it has its own FATCA … [Read more...]
Links Oct 6
Curbing Illicit Financial Flows and dismantling secrecy jurisdictions to advance women's human rights Global Alliance for Tax Justice Panama Papers honored with a Gold Barlett & Steele Award for Investigative Journalism ICIJ Swiss AG says "serious suspicion" of Swiss banks being involved in … [Read more...]
Links Oct 4
G20 finance chiefs to discuss risks to economy, ending secret company ownership Reuters Study: 73% of Fortune 500 Companies Used Tax Havens in 2015 U.S. PIRG See also: Offshore Shell Games 2016 When It Comes to Tax Avoidance, Donald Trump’s Just a Small Fry The New York Times Trump thinks not … [Read more...]
Links Sep 30
The Real Scandal Behind the Panama Papers Vanity Fair Panama has passed a law to implement sanctions vs anyone who calls it a tax haven E&N (In Spanish) Capital mobility: The good, the bad and the ugly The Economist 'True FDI is an unalloyed benefit. But the growing practice of using offshore … [Read more...]
