June 26th, 2014
For a while now, we've been
writing about the ongoing effort by the Organization for Economic Cooperation and Development (OECD) to create new standards for the exchange of tax and financial information between countries. The new system would help clamp down on corrupt individuals that hide their money in countries with strict secrecy laws and low tax rates.
While there are many questions still remaining about implementation, one thing is clear:
developing countries must be included. Some of the largest cases of illicit financial flows involve money being siphoned...
June 9th, 2014
The C20,
a global network of civil society organizations, have released finalized versions of the position papers that will guide advocacy efforts ahead of the G20 summit in Brisbane, Australia. The most noteworthy for our work at the FTC comes within the C20's paper on 'Governance', which incorporates a number of financial transparency issues.
May 30th, 2014
In his first official act after winning the biggest democratic election in world history, Indian Prime Minister Narendra Modi
announced the formation of a Special Investigative Team (SIT) to probe
illicit financial flows, or ‘black money’ as they are commonly referred to in India.
May 23rd, 2014
The Swiss Federal Council on Wednesday
issued a statement making it all too clear what it thinks “the new global standard for the automatic exchange of information in tax matters” should look like. This concerns the OECD’s ongoing project to create a new framework for international financial transparency, which
we’ve written about before: while we found shortcomings, we welcomed the project overall. The OECD is expected to finalise its global standard in June.
The Swiss position is a direct threat to global moves on transparency.
