Financial Transparency Coalition

Yesterday Switzerland’s parliament approved a much-anticipated tax information exchange agreement with Germany. The country has made similar agreements with Britain and Austria and is already in talks with Italy to make a similar deal. Under the agreement, Swiss banks will make anonymous advance payments to German tax authorities for undeclared money. Germany stands to make big gains: lawmakers already plan to levy a retroactive tax of 21 to 41 percent on their citizens with undeclared accounts. With holdings of an estimated 222 billion euros ($291.8 billion) in Swiss accounts, about 60 percent of which are undeclared, German citizens can expect...

I heard a lot of things I liked during President Obama’s State of the Union address this evening. I also heard a couple of things I didn’t like. I’ll get to those. I want to talk specifically about his statements on corporate taxation. I’ll have to leave his statements on individual taxes to someone else. From the transcript of tonight’s State of the Union: Right now, companies get tax breaks for moving jobs and profits overseas. Meanwhile, companies that choose to stay in America get hit with one of the highest tax rates in the world. It makes no sense, and...

Christian Aid just released their new video for the End Tax Haven Secrecy campaign. Watch the (excellent) video, then visit EndTaxHavenSecrecy.org to take action today. Join us in calling to demand tax justice at the G20 summit in France in November 2011.

Taxation plays an important role in democratic governance and market economies. Tax revenue finances social and physical infrastructure. It reinforces national sovereignty. When coupled with good governance and institutions, it ensures that the costs and benefits of development are felt across society.