From Joseph Stiglitz, writing in Vanity Fair: "It will not be long before those nations that opt to continue with old-style secrecy will be labeled pariah states and be cut off from the global financial system." New and abusive games will continue to emerge to fill the vacuum left by old-style … [Read more...]
Quotations
TJN sparring partner caught up in Panama Papers scandal
Back in 2005 a lobby group in Washington, D.C. issued a press release entitled Tax Justice Network Sides with Europe's Tax Collectors, Ignores Critical Role of Low-Tax Jurisdiction in Protecting Human Rights and Promoting Pro-Growth Policy. The bizarre press release accused us of putting at risk … [Read more...]
Quote of the day – London and money laundering
From London's new mayor, Sadiq Khan: “I have got nothing against luxury properties being built in London. What we can’t have is London being the world’s capital for money laundering.” Ten years ago, who could have predicted this kind of comment? See more here. Just for instance. … [Read more...]
Quote of the day: JFK and secrecy
The quote is from John F. Kennedy, speaking in 1961 (hat tip: the Cayman Reporter): "The very word "secrecy" is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths and to secret proceedings. We decided long ago that … [Read more...]
Stiglitz to tax haven UK: you are aiding and abetting theft
Our quote of the day, from Nobel prize winning economist Joseph Stiglitz, commenting in the wake of the UK election: “Some of these people are just using your rule of law to protect money they have stolen in other countries . . . From a global point of view, you are aiding and abetting theft.” … [Read more...]
Quote of the day: tax-evading Greek oligarchs
From an article by UK journalist Paul Mason, published on the eve of the Greek vote: "As for the Greek oligarchs, their misrule long predates the crisis. These are not only the famous shipping magnates, whose industry pays no tax, but the bosses of energy and construction groups and football … [Read more...]
Haven quote of the day: there are no activities here
From Fortune Magazine, an investigation into Luxembourg's shady corporate dealings: "The mailbox marked AIG/Lincoln—the name of a partner of the New York–based insurance and real estate giant AIG—is empty and unlocked. Moments later, in the company’s fifth-floor office, I meet AIG/Lincoln’s … [Read more...]
Quote of the day: offshore enforcement as a career killer
From Jack Blum, a Senior Adviser to the Tax Justice Network, testifying to the U.S. Senate Committee on Finance: "For years there has been very little offshore enforcement. There was a period in the 1970’s when IRS made some efforts in that direction. The cases were dismissed. The agents who … [Read more...]
Tax quotes of the day – Lewis Black, Edmund Burke
Two more, in an occasional series. You can find plenty more on our quotations page. “They're so broke that they've actually cut essential services. In many places, they've cut policemen, because, who the fuck needs them? Or firemen, son of a bitch, it's much more fun watching something burn … [Read more...]
