President Juncker must endorse public scrutiny of multinational tax payments Transparency International European Parliament tax investigation: Lobbyists from non-compliant firms to lose access to EU Parliament Sven Giegold Finland: Minister on board of tax haven firm YLE Minister of … [Read more...]
Inequality & Democracy
Report: Illicit Financial Flows Outpace Foreign Aid and Investment
Updated with new table: see below From Global Financial Integrity in Washington, D.C., via email: "Analysis of illicit financial flows (IFFs) by Global Financial Integrity (GFI) shows that in seven of the last ten years the global volume of IFFs was greater than the combined value of all … [Read more...]
Links Sep 15
EU must force more transparency from companies in Africa - Piketty Reuters Event: Gabriel Zucman presents “Hidden Wealth of Nations: The Scourge of Tax Havens” Washington Center for Equitable Growth Taxing Africa’s richest and poorest Ventures Africa Swiss firms avoiding tax on gold, says … [Read more...]
Links Sep 11
Greens call for stronger recommendations to fight corporate tax avoidance in Europe The Greens / European Free Alliance in the European Parliament Transparency & the State of the Union Transparency International On Jean-Claude Juncker giving his first annual ‘State of the European Union’ … [Read more...]
Russia’s offshore financial nexus, threatening financial stability and security
We have for years remarked on the role of the offshore system in promoting financial instability, not least for its propensity to enable financial players to get out from under financial regulations they don't like, then taking the cream from risky activities and shifting the risks onto others. … [Read more...]
Links Sep 10
Poor countries worry that developed nations drive tax agenda Business Day Live UK: Revenue & Customs 'winding down' inquiries into HSBC Swiss tax evaders The Guardian "After reopening investigation into HSBC clients hiding money in Switzerland, HMRC admits it has still only prosecuted one … [Read more...]
Will Brazil’s “CPMF” financial transactions tax live another day?
For the decade that lasted up to 2007, Brazil levied a tax on financial transactions called the CPMF. It was a biggy: this tax raised nearly $20 billion in its last year of operation before it was killed off by a coalition of people opposed to it, some of whom are in this photo. The tax had two … [Read more...]
Links Sep 9
EU tax haven blacklist—a misguided approach? LexisNexis TJN's Markus Meinzer and Andres Knobel on the misleading nature of the EU tax haven blacklist, and why blacklists might not be the right approach to tackle tax dodging. (This article was first published on Lexis(r)PSL Financial Services on 7 … [Read more...]
Quote of the day: a tectonic shift in accounting standards
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...]
Links Sep 7
New FTSE100 survey should boost moves towards corporate tax transparency Christian Aid International taxation: if the rules of the game were changed? EurActiv (In French) Paying tax, a patriotic act: South African Revenue Service SABC Dubai courts Greek shipowners and operators Seatrade … [Read more...]
Links Sep 4
Antoine Deltour, the man who shook Luxembourg Le Figaro (In French) See also our blog: Will Antoine Deltour become a prisoner of conscience? Brussels Refusing to Hand Over Documents in European Tax Scandal Probe Sputnik UK company ownership register postponed until next June STEP See also … [Read more...]
Links Sep 3
Argentina Tells HSBC to Remove CEO in Tax Evasion Dispute Bloomberg Tax Evasion: Argentine Tax Authority Recruits Whistleblowers Falciani and Gibaud La Trbune (In French) See article linked earlier on the Falciani trial in Switzerland, and our recent guest blog How Switzerland corrupted its … [Read more...]
Selling England by the offshore pound: astonishing new interactive map
Britain's Private Eye newspaper has produced the most astonishing map of offshore landholdings in England. If you live in England, you can browse your local area and find out which properties near you are owned offshore. (Perhaps you might want to pop out and ask them why.) As Private Eye flag … [Read more...]
Links Sep 1
The Role of Global Banks, Financial Asset Management by "Private Banking". Contribution for the Think 20. CEFID By Jorge Gaggero and Magdalena Belén Rua Spooked by black money bill, Swiss banks ask Indians to utilise 'compliance window' FirstPost Law firm defends use of charities to help … [Read more...]
Links Aug 27
Denmark reveals €800m tax fraud – the country's biggest The Guardian Bangladesh: National Board of Revenue zeroes in on tax dodgers The Daily Star Making Pakistan’s target for education financing a reality Brookings Institution End corporate tax evasion - finance public services TJN-Latin … [Read more...]
