October 21st, 2010
Should the World Bank’s private sector lending arm, the International Finance Corporation (IFC) set a clear policy regulating its investments in companies registered in tax havens?
This question led a few weeks ago to one of the most heated discussions ever on the Executive Board of this institution. Last year, European NGOs asked their Executive Directors at the World Bank to set up binding guidelines to ban IFC investments in companies operating through tax havens. In response to pressure by civil society, the World Bank has taken swift action to start up this discussion; however, the Bank has not gone...
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October 14th, 2010
This research briefing on secrecy jurisdictions from Tax Research UK--endorsed by the Tax Justice Network and the Task Force on Financial Integrity and Economic Development--is designed to briefly provide a clear insight into what secrecy jurisdictions are and what problems they cause.
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October 14th, 2010
Tax Research UK has published a
new briefing on secrecy jurisdictions today. This has also been endorsed by the
Tax Justice Network and the Task Force on Financial Integrity and Economic Development. It is available in PDF format on the left.
The briefing, the first in a new format, is designed to provide a clear insight into what we think secrecy jurisdictions are, and what problems they cause, all in a somewhat limited length.
At the core of the paper are these arguments:
October 6th, 2010
At its
annual conference last week, the
Task Force on Financial Integrity and Economic Development identified concrete measures that could help developing countries to mobilise the resources needed to achieve the Millennium Developing Goals (MDGs) and go even further to help eradicate world poverty and lay the ground for a fairer global financial system.
These measures include:
- taxing the USD 15 to 20 trillion of private wealth sitting in tax havens
- establishing accounting standards that oblige multinational companies to report their profits earned in every country
- or setting rules for the automatic exchange of tax information between countries.
The Task Force...
