July 15th, 2009
Apparently nobody at Reuters read my
post yesterday about the media's skewed coverage of the OECD grey list and the signing of TIEAs. I
wrote regarding the media's coverage of Luxembourg coming off the OECD grey-list:
But there is an entirely separate side to this story that hasn’t permeated the coverage at all: the OECD standards are useless in any practical sense, and under these standards wealthy tax evaders will still feel perfectly safe stashing their money in Luxembourg. As we discuss extensively on this website – the OECD’s standards require a...
July 14th, 2009
Many outlets reported on the fact that Luxembourg has now signed 12 OECD model Tax Information Exchange Agreements (TIEA). However, all of these articles cover only one side of the story - touting the signing of the agreement, the OECD's
lauding of Luxembourg, and the Luxembourg's self lauding for coming into "compliance." If you weren't careful, you might mistake the articles for something written by a mother who is bragging about the accomplishments of her own child.
But there is an entirely separate side to this story that hasn't permeated the coverage at all:...
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July 13th, 2009
The US DOJ's case against swiss banking giant UBS was
delayed yesterday when all three parties - UBS, the US, and Switzerland - asked the Federal District Court in Miami to postpone the trial date until August 3rd so that the US and UBS could continue working out a settlement. The two sides are scheduled to update the judge on their progress on July 29th. From the
Financial Times:
Prospects for a settlement between the sides improved after the US Department of Justice, UBS and the Swiss government asked for a three-week...
July 10th, 2009
The 2009 summit of G8 leaders concluded today after 3 days of meetings in L'Aquila, Italy. While it looks as though little action has emerged from the summit, the leaders have certainly altered their rhetoric in a positive direction. A number of important documents came out of the summit:
Here's a great snippet from the Responsible Leadership for a Sustainable Future
document:
