Financial Transparency Coalition

Brazil’s Parliament is considering measures to eliminate tax havens. These havens are problematic for Brazil and other nations because they reduce tax revenues, hurting spending budgets. Brazil has 33 conventions and one agreement signed with countries for curtailing tax abuse. However, among them all, there are no provisions that require exchanges in financial information from the Cayman Islands, the Virgin Islands, or the Bahamas, among others. For those three jurisdictions alone, Brazil has a total estimated US $61.2 Billion of direct investment. Opaque systems such as this allow for large scale tax evasion. Brazil needs...

Monday's Top News Stories from Global Financial Integrity.

The 2012 annual conference of the Task Force on Financial Integrity and Economic Development will take place at the Ramada Plaza Tunis in Gammarth, Tunisia, from October 17-18. Illicit financial outflows from developing countries – which total around $1 trillion per year – undermine the tax base in poorer countries, eroding the accountability that is essential for good governance and global stability. Fiscal accountability is a key component of a well-functioning social contract, both of which have been absent in many countries in the Middle and North Africa (MENA) region, including Libya, Tunisia, Egypt, Yemen and Syria. MENA countries...

The Failures of Our Economic System Thought Economics, June 1, 2012 China key to elephants’ future in Africa – experts The Star (Kenya), May 31, 2012 India, Bahrain Sign Pact Aimed At Curbing Tax Evasion Bernama (Malaysia), June 1, 2012 Ease law on indirect transfers: Exempt transfers in overseas listed cos and give credit for