Financial Transparency Coalition

There’s been a lot of speculation about what secrets Mitt Romney is hiding in his tax returns. The economist in me feels fairly certain that, given the immense damage this issue has done to his presidential bid and assuming the campaign has done a cost-benefit analysis, there must be something pretty shocking lurking below the surface. We already know Mitt Romney has as much as $8 million invested in at least 12 Cayman Island funds and another investment, worth between $5 million and $25 million, shows up on securities records as domiciled in the Caymans. Some have argued we should ignore...

Latindadd and other civil society organisations recently sent their contributions to the UK parliamentary inquiry into tax in developing countries. In its call, the International Development Committee of the UK parliament highlighted that “developing countries lose an estimated $ 160 billion each year through tax avoidance by multinational companies (including those based in the UK)” and the important role of the extractive industries, “where payments to governments are often not disclosed and may not contribute to development or poverty reduction.”

The FACT Coalition released a document detailing their legislative asks yesterday. The document does a great job of detailing important ways to keep the financial system accountable, both in a domestic and international sense. The entire document can be downloaded below the 'read more' or at the 'PDF' link in the post title.