Yesterday we received an email containing our quote of the day: "this decades-overdue accounting rule is a historic development of tectonic proportions. It will enable analyses never before possible and vividly tie the opportunity costs of economic development to other public priorities." Our … [Read more...]
Corruption
Is it time to assess the financial secrecy of the Vatican?
The Vatican-based Istituto per le Opere di Religione (the Institute for Religious Works or IOR, a.k.a. the Vatican Bank) probably falls into the category of the world's most controversial bank. Now, according to this long read article in today's Guardian, the bank's unaccountable bureaucracy and … [Read more...]
Who are the real “marauders”?
ma+raud verb. to search (a place) for plunder On Monday this week the Guardian newspaper splashed a headline across its frontpage about a comment from UK minister of foreign affairs Philip Hammond accusing "marauding migrants" of threatening the standard of living of Europeans. … [Read more...]
No country for dirty money: behind Britain’s populist promise on corruption
This guest blog by Jörg Wiegratz was originally published by The Conversation, and is re-published here with the author's permission The contemporary global economy is characterised by high levels of corruption and crime. Economic chicanery and fraud are rife in many business sectors … [Read more...]
UK parliament: stop money laundering through UK property
More precisely, what is known as an Early Day Motion, so far signed by 20 UK MPs: "That this House notes the recent screening of From Russia with Cash on Channel 4; expresses its concern that the proceeds of corruption are being laundered through the London property market via the use of … [Read more...]
Guest blog: how Switzerland corrupted its courts to nail Rudolf Elmer
Update, Oct 10, 2018 - Swiss top court knocks down bid to extend banking secrecy. Good news for Elmer, following his partial victory in 2016. Update, Jan 4, 2016: Elmer has won a partial victory, underlining the main point of this blog. In a civil suit brought by Elmer, the Swiss Federal Court … [Read more...]
In memoriam: FIFA’s stench kills free speech in Cayman
More fallout from the toxic FIFA scandal (see here, here and here). … [Read more...]
HSBC, money-laundering and Swiss regulatory deterrence
Number-crunching, à la Private Eye: the case of HSBC and its Swiss fine for “organisational deficiencies” in relation to money-laundering. $42.8 million Fine imposed on HSBC by Geneva authorities for "organisational deficiencies" related to money-laundering uncovered in … [Read more...]
Did KPMG spot anything amiss at FIFA?
From Francine McKenna: "Of all the individuals and firms tied up in the scandal over bribery and corruption at FIFA, scrutiny has so far largely escaped KPMG, the soccer association’s external auditor." That's the summary, and our quote of the day. The article continues: … [Read more...]
Tax Justice Research Bulletin 1(5)
May 2015. Welcome to the fifth Tax Justice Research Bulletin, a monthly series dedicated to tracking the latest developments in policy-relevant research on national and international taxation. This issue looks at a fascinating thesis on the different people and organisations that influence the … [Read more...]
Quote of the day – tax incentives as official tax evasion
This headline may seem odd. Conventionally tax evasion involves cutting taxes by breaking laws; using tax incentives is a different creature altogether: it involves cutting taxes by using the law. But this useful new report from the European parliament contains a twist on the conventional … [Read more...]
The Price We Pay – London premiere on 19th June 2015
Harold Crooks' (The Corporation, Surviving Progress) searing documentary indictment of offshore finance gets it UK premiere at the Open City Documentary Festival in London on 19th June, and will also be screened the following week at TJN's discussion workshop at City University. … [Read more...]
Auditor rotation: the new merry-go-round
From Prof. Prem Sikka, via email: "Auditing itself has become one of the biggest frauds of modern times. When was the last time company auditors drew attention to fiddles, tax dodging, money laundering or their own complicity in financial misdemeanours? The penalties for delivering duff audits, … [Read more...]
Will UK’s new government help poor countries fight tax haven secrecy?
The United Kingdom is, in many respects, the most important single player in the world of offshore tax havens (or secrecy jurisdictions.) It has many offshore characteristics itself, and it runs a network of partly-British havens, whose laws it can strike down when it really wants to. So it is … [Read more...]
The Tax Justice Research Bulletin 1(4)
Corrected: the earlier version referring to a Banque de France Report said "$8bn revenue loss" when it should have referred to an $8bn loss in tax base. The Tax Justice Research Bulletin By Alex Cobham. TJN (April 2015) - The Tax Justice Research Bulletin is a monthly series dedicated to … [Read more...]
