July 14th, 2011
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...
December 8th, 2010
I am in the US to talk about country-by-country reporting at Yale University.
The slides I’ll be using are here
As I say in them:
—CBC is a new way of looking at the MNC
—It is in essence a demand for a profit and loss account and limited balance sheet for each country in which the MNC trades
—But it’s also something much more than that
—This is an accounting system that roots the corporation in the countries that host it – and not somewhere floating above them
—And this is accounting that says the MNC is an entity in its own ...
October 29th, 2010
My sources tell me that:
The European commission has realised that the DTAs would compromise the EU work on automatic exchange of info. Now the Commission has been in direct touch with Germany and UK regarding this issue.
Most important is that they are concerned about Switzerland now being a conduit for all black money back to the UK / Germany if assets are regularised…
So they should be. With the fundamentalist free market government of the UK (yes, I mean that fundamentalist comment – those in our ...
October 18th, 2010
This October 2010 report from the Trades Union Congress (TUC) highlights how UK banks will avoid paying £19 billion of tax on future profits by offsetting their losses during the financial crisis against their tax bills, and it advocates for an international country-by-country reporting standard for multinational corporations.