Financial Transparency Coalition

The nine regional councils will ask for country by country reports from their banks and insurers. This will include the following details: Name and number of subsidiaries; numbers of staff employed; profits and amounts of taxes paid. This information should be provided by the company six months after its annual report is published. This information is invaluable in calculating whether a company is paying its fair share of tax in each country. The precedent this sets is very important as the EU is currently considering introducing country by county reporting. The Comite Catholique Contre La Faim et Pour Le...

We are delighted to see this from Brazil's respected Instituto de Estudos Socioeconômicos (INESC,) which has launched a Brazilian (Portuguese-language) campaign, as part of our global End Tax Haven Secrecy (ETHS) initiative. The new site, Fim aos Paraísos Fiscais, is supported by a wide range of organisations and the launch got good media coverage in Brazil. Take a look at these reports, for example:

Recently The European Commission published a report entitled “Transfer pricing and developing countries,” which is meant to assist these countries with addressing the problem. Transfer pricing is the single biggest source of illicit financial flows in the world costing developing countries hundreds of billions of dollars every year. While an assessment of the impact of transfer pricing in developing countries is sorely needed the report was narrowly focussed on the implementation and interpretation of the arms length principle. The arm’s length principle, promoted by the OECD that has proven to be very difficult to implement globally...

"Real patriots pay their fair share of taxes. They don’t run out on the bill," write Scott Klinger and Holly Sklar. Some of our nation’s biggest corporations are planning a tax holiday and they want you to pick up the tab. Actually, you already pay for their routine tax avoidance through the use of tax havens in Bermuda, the Cayman Islands and elsewhere. These accounting acrobatics cost the U.S. Treasury $100 billion a year. Now they want Congress to pass a special tax holiday for money they “repatriate” back to the United States. There’s nothing patriotic about this repatriation being pushed by...