July 28th, 2009
US Senator Richard Lugar (R-IN) wrote a good
op-ed for the
Center for Global Development's blog where he discusses the need to improve USAID. From the
piece:
As a result of USAID’s diminished strength, foreign assistance programs have diffused throughout some two dozen other agencies and government departments, including the Pentagon, and USAID directly manages less than half our foreign assistance spending. Each of these agencies naturally considers itself the lead agency in its sector, provoking competition among agencies rather than coordination and coherence. We don’t really know whether these programs are...
July 28th, 2009
The U.S. Congressional Research Service (CRS) has issued a
detailed new report looking at secrecy jurisdictions (also sometimes known as tax havens).
The report, which references our work in several places, is packed with data and useful material. For example, looking at methods of corporate tax avoidance, it mentions:
- Allocation Allocation of Debt and Earnings Stripping (p8, "borrow more in the high-tax jurisdiction and less in the low-tax one." - note also our latest blog)
- Transfer pricing(p9, "By lowering the price of goods and services sold by parents and affiliates in high-tax jurisdictions and raising the price of...
July 28th, 2009
Bloomberg: Grano says UBS ignored the suggestion of selling its wealth management division.
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July 28th, 2009
WASHINGTON - Jeffrey P. Chernick, of Stanfordville, N.Y., pleaded guilty today to charges of filing a false tax return, the Justice Department and Internal Revenue Service (IRS) announced. Chernick, who owns a corporation which represents toy manufacturers in China and Hong Kong, appeared today before Judge James I. Cohn in Ft. Lauderdale, Fla., and accepted responsibility for concealing more than $8 million in Swiss bank accounts.
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