Financial Transparency Coalition

Jeffrey Sachs is back in the Financial Times with a fine article about the failed economic leadership of western governments, and tax havens feature prominently in his analysis. “Tax havens”, he notes, “have proliferated even as the politicians have occasionally railed against them” we like the twist to the politician's collective tails implied by the word 'occasionally'. And he continues: “In the end the poor are doubly hit, first by global market forces, then by the ability of the rich to park money at low taxes in hideaways around the world.” We have argued for many, many years, that tax havens are a major faultline in the...

While over 100 million children never get the opportunity to go to school, developing countries lose more money through tax dodging than they receive in aid. Take action now to end tax haven secrecy. Join us in calling to demand tax justice at the G20 summit in France in November 2011.

Last week, The Daily Show with Jon Stewart lampooned the failure to implement many elements of the Dodd-Frank Consumer Protection Act, even one year after the law's passage.  One of the most important elements awaiting approval is Section 1504 (also known as the Cardin-Lugar provision), which would require extractive industries to "Publish What they Pay" to governments in gaining access to the natural resources of a country, in order to prevent illegal activities and exploitation.  However, delays from the SEC prevent the regulations from actually being implemented.  Beyond the obvious humanitarian benefits, and improved economic competition that come with transparent...

Richard Murphy of Tax Research UK, a coordinating committee member of the Task Force, has released a new report on tax haven abuse on behalf of the Public and Commercial Services Union (PCS), War on Want, and the Tax Justice Network. The report examines the effects of tax havens on tax collection, financial stability, corruption and poverty. In addition, it looks at the consequences of secrecy laws in tax havens on the international financial system. The report expresses concern over the direction tax law is moving in, stating: PCS wishes to draw attention to the massively worrying...