August 24th, 2011
The tax deal between the UK and Switzerland
initialed today is reported to:
retrospectively tax existing banking relationships in Switzerland, persons resident in the UK should be given one chance to make an anonymous lump-sum tax payment. The size of this tax burden will vary from between 19% to 34% of the assets in question, and will be determined based on the duration of the client relationship as well as the initial and final amount of the capital. Instead of such a payment, those affected should also have the possibility of disclosing their banking relationship in Switzerland to the British authorities.
To...
July 19th, 2011
UK Prime Minister David Cameron gave a speech in Lagos, Nigeria, where he encouraged the European Union to adopt "Publish What You Pay" rules for the mining, oil, and gas industries. According to GFI estimates, Nigeria loses over $14 billion each year to illicit financial flows, far more than any other African nation, with its energy sector being by far the most prominent contributor.
Task Force member Christian Aid was quick to praise the development, in particular these comments from his speech:
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July 19th, 2011
LONDON – Christian Aid today welcomed Prime Minister David Cameron’s backing for legislation that will force companies to reveal the taxes and fees paid to governments in every country where they operate. Speaking in Lagos, the Prime Minister said the EU should follow the example of the US, which has introduced a new law to force mining
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June 22nd, 2011
In the past year, US Secretary of State, Hillary Clinton, and British Prime Minister David Cameron have been fairly vocal about Pakistan not taxing its elites, while the US and UK give aid to the country.
Of course, in a fragile state like Pakistan, statements by the UK and US governments on tax are no doubt motivated by the potential for tax reform to build a strong and responsive state – which is less likely to be a security concern internationally.
But Finance Minister, Dr Abdul Hafeez Shaikh, has joined the call for the rich, legislators and media ‘moguls’ to...
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