February 18th, 2011
This year, the European Union will review a number of European laws that spell out what types of information companies must disclose in their annual financial reports. Although at first sight this change in accounting rules seems like a dull technical exercise, well designed and transparent accounting standards have the potential to lift the veil of opacity that has contributed to the recent global financial drama and which, for years, has been preventing developing countries from properly taxing the activities of multinational companies operating within their jurisdictions.
Civil society groups are calling on the European Union to live up to...
Continue Reading
February 18th, 2011
The economics editor of
the Independent has written a review of Nick Shaxson’s book,
Treasure Islands. To be candid, it’s easily the most cynical review to date.
As
he concludes:
part from new potatoes, gold-top milk and some tourism, Jersey has little going for it economically. Nor do most of the British overseas territories fingered by Shaxson - which are only nominally under UK jurisdiction, a point he neglects or misunderstands. Most are too small and poor to be independent states, even with their financial income. As a second-best they have been granted self-government and they are, uncomfortably for the...
February 18th, 2011
Last week at the World Social Forum in Dakar, Senegal, the African branch of Task Force coordinating committee member Tax Justice Network, Tax Justice Network - Africa (TJN-Africa), released the African edition of
Tax Us If You Can.
As Dereje Alemayehu, chair of Tax Justice Network's African Steering Committee,
put it in a blog last week from Dakar:
This report is a clarion call to civil society and governments across Africa to stand up against the injustice of those who dodge taxes, and the response from those attending the launch was clear: this is an injustice we can no longer...
February 17th, 2011
In a public opinion poll conducted in November of 2010, Americans, on average, stated they believe about 25% of the Federal budget goes to foreign aid. When asked what would be an appropriate amount to go to foreign aid, Americans answered 10% of the budget. The amount of the U.S. federal budget that actually goes to foreign aid? About 1%. It’s no surprise that foreign aid is one of the only budget areas that a majority of Americans are willing to cut.
The reason for this, pollsters believe, is because Americans have blurred the line between defense...
Continue Reading
