Financial Transparency Coalition

In the August 2013 Taxcast: we look at why development money is being invested in developing countries via tax havens and the under-reported elements of the tensions between Spain and Britain over the territory of Gibraltar. Also: tax and the environment – making the polluter pay instead of paying the polluter: the Taxcast investigates the Carbon Tax in British Columbia, Canada.

The 10-point Lough Erne communique contained 13 uses of the word ‘should’ and not a single use of the word ‘will’. Perhaps David Cameron, the UK Prime Minister, was hoping that no-one would notice the difference and that the British public anger about tax dodging would be satisfied without any actual action. A new poll commissioned by Christian Aid shows that that gamble has failed and that the British public remain as angry, if not more so, than before the G8. When a previous poll was undertaken in February, 80% of the public were angry about tax...

Imagine that you are trying to sort out to recover your assets during divorce proceedings, and your significant other forces you to navigate this web of offshore shell companies and trusts, often with intermediaries listed as the beneficial owner. Read more at FT Alphaville.

The World Bank Group is currently undertaking an evaluation and review of its Sanctions System. That Sanctions System is an integral part of the Bank’s Anti-Corruption policy in that it provides a framework for punishing corrupt contractors, thereby creating a deterrent to corruption. A well-functioning Sanctions System is also important in helping to ensure that the development goals of Bank-financed lending projects are not undercut by fraud or corruption and that World Bank loans produce the greatest possible development impact vis-à-vis the money disbursed.