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Liechtenstein reveals the weakness of the current European Savings Tax Directive
July 8th, 2011
Liechtenstein has just announced the latest sums it has collected under the terms of the European Savings Tax Directive. It was a measly €7.8 million.
Working backwards this is 20% tax on €40 million interest. Assuming 2% interest, this is tax on interest income on € 2 billion capital (which may seriously overstate the case: German bonds paying over 3% p.a.). Liechtenstein banks have € 140 billion assets under management.
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Tax Research UK Briefing: Secrecy Jurisdictions
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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New briefing on secrecy jurisdictions
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:
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New Report – ‘Investments for Development: Derailed to Tax Havens’
September 17th, 2010
The Task Force on Financial Integrity and Economic Development conference in Bergen starting on 28 September also sees a side event on that day when Danish NGO IBIS and a range of its partner launch a new report. That report – entitled ‘Investments for Development: Derailed to Tax Havens: A report on the use of tax havens by Development Finance Institutions’ – has been written by UK based chartered accountant Richard Murphy (me), the director of Tax Research UK, a member organisation of the Co-ordinating Committee. The report, which is sponsored by IBIS, NCA, CRBM, Eurodad, Forum Syd...
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