Financial Transparency Coalition

According to Isle of Man Today the island is in deep trouble:

AN end to the current zero-10 corporate tax regime could devastate the largest sectors of the Manx economy according to a survey carried out of business professionals in the Island. Jobs and business would leave the Island and go to rival jurisdictions if the Isle of Man introduced corporate tax.

As it explains:

The Island cut corporate tax to zero in 2006 for most industries to lure more business here. The Channel Islands followed suit. But the European Union, which initially did not complain about the Manx tax...

The European Commission has recently opened a consultation process until 23 August 2010 calling for views to modify a regulation that sets out minimum transparency requirements for listed companies. The Transparency Directive was adopted in 2004 with the aim of improving the information available to investors on companies’ performances to help them make investment decisions. Now, the so-called TOD Directive is under revision. Where the directive currently falls down As it currently stands, while the Directive covers a large range of firms, namely, those whose securities are admitted to trading on a regulated market, it only offers EU Member States the possibility...

On 15^th June the European Parliament passed a resolution on progress towards the achievement of the Millennium Development Goals (MDGs): mid-term review in preparation for the UN high-level meeting in September 2010. This resolution sets out a number of recommendations for EU Member States ahead of the summit. It acknowledges that “all eight MDGs are currently off-target” and asks member states to adopt a leading, ambitious and united position to meet the MDGs before the 2015 deadline. Overall, this resolution is more ambitious than the position adopted by EU Member...

Reuters - Liechtenstein and Britain said on Tuesday they had signed an agreement to encourage British clients of banks in the Alpine principality to voluntarily disclose untaxed money. Here are some details about European countries who have been maintaining strict laws protecting banking privacy.