Links Jun 29
Jun 27 - Great video explaining tax havens. (In Spanish).
Tax justice must be on the agenda for the post-2015 development goals New Statesman
Bangladesh: Call to withdraw VAT that hurts poor The New Nation
Rights activists criticise VAT as regressive tax Daily Sun
Jun 28 - "In Bangladesh, indirect tax such as VAT accounts for 70 percent of the revenue earning compared to 25 percent direct tax whereas contribution of direct tax which ensures social justice is almost 70 percent even in Europe and America."
TCI business community fights back at VAT Cayman News Service
Jun 26 - The UK government’s proposal to implement VAT in the Turks and Caicos Islands has met with opposition: “This new VAT tax is not driven by a "grass roots" initiative, but is a politically driven tax imposed upon us by distant bureaucrats based in Europe without effective due process and regard to our specific economy and its future development."
Jun 14 - Reporting on a visit to Zambia, Charlote Marshall notes: "The overwhelming message was that the companies taking wealth out of their country were not giving anything back."
Tax evasion fight starts to bare its fangs Reuters Africa
Jun 28 - "Some of the money Africa loses through artful officials diverting cash into offshore tax havens could be recovered after a push by the world's richest countries to share tax data. The initiative, unveiled quietly in a report last week by the OECD, embraces the notion that countries should automatically share data on taxable income and assets."
Greek, Romanian Companies Move To Bulgarian Tax Haven Bloomberg
Jun 28 - "Greek and Romanian companies that registered in Bulgaria rose last year as executives sought to take advantage of low taxes and a stable currency in the neighboring Balkan country." Hat tip: Offshore Watch.
Spain: Expats on Hacienda tax hit list IFA online
Jun 29 - "A number of clients have reported receiving letters about their offshore bank accounts. It is the first time we have seen the Hacienda [Spain tax authority] using information supplied by a tax haven to pursue tax on undeclared income."
Jun 28 - On the developing story of banks colluding to distort markets by manipulating LIBOR (London InterBank Offered Rate), a fundamental mechanism of international money flows. Not tax justice precisely, but connects with activities by the financial elite to distort markets for the benefit of a privileged few.
Don't blame Barclays alone New Statesman
Jun 27 - Richard Murphy comments on "banks rigging prices and manipulating markets to mitigate their risk at cost to others."
Might of Fonterra may monopolise market Stuff
Jun 27 - Another story of the ripple effect of murky financial dealings - "Last November, the High Court in London ruled on an extraordinary case involving a wealthy Russian businessman, a Russian state-owned bank, a dairy company and various tax haven entities .."