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Monthly Archives: October 2006

The Vatican on corruption

24-Oct-06

The Vatican published a paper on corruption last month.
It doesn’t matter that you’re not a Catholic: it doesn’t matter that you don’t believe in anything. This is worth reading. They’re a lot more on the ball than most organisations I can think of.
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Half term reading

23-Oct-06

I spend a lot of time reading what those I don’t agree with write.
Sometimes it’s good to read something you really enjoy and agree with. For those looking for half-term reading I suggest Bob Ellis’ ‘First Abolish the Customer. It’s a fantastic and highly readable analysis of economic rationalism, and shows just how irrational it [...]

Who wins from the Tories?

20-Oct-06

I know others have already done some of this, but I couldn’t resist looking at who wins from the Tories proposed tax reforms. So I’ve looked at each of the main reforms and simply decided who wins most - the top 10%, or the rest. That, broadly speaking is higher rate taxpayers, or the rest [...]

Gordon Brown meets the City

19-Oct-06

Gordon Brown’s worried about the Tories. So he’s wooing the City. The Guardian covered my comments on the issue here.
One just have to hope he won’t play a game of race to the bottom in the UK.

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Intellectually bankrupt and economically incoherent

19-Oct-06

The Tories have published the findings of their Tax Reform Commission, which was, by the way wholly staffed by KPMG (I know, they asked to meet me, although I note they have ignored all I said). The recommendations are intellectually bankrupt and economically incoherent.
Let’s take a starter:

While theoretically attractive, moving directly to a “pure” flat [...]

Accountants - purveryors of anti-social behaviour

19-Oct-06

Accountancy Age published a letter from me today.
The letter as submitted said:

I note your report (October 12) on the future of tax avoidance. I am afraidthat many of the terms were too loosely used for the coverage to beobjective. For example, it was said that tax planning is the second oldestprofession in the world. That’s [...]

UK companies must disclose their tax risk

19-Oct-06

Accountancy Age published an article under this title today. As the link is not available as yet, I’ve reproduced it here.
This is important. The US Federal Accounting Standards Board has produced a document FIN 48 on accounting for uncertainty in tax provisions. It only applies to US companies at the moment, but the reporting is [...]

Bono - ‘tax efficient manager’ maybe

18-Oct-06

The International Herald Tribune published an article on Bono’s tax activities yesterday. A certain Richard Murphy is quoted in the report (although I have no recall of speaking to the IHT - I think it all came from this blog).
What is interesting is what U2 say about their affairs:

“Our business is a very complex business. [...]

Tax evasion - a threat to democratic government

18-Oct-06

Sweden provides yet more evidence of what happens when democratically elected politicians are found to be tax avoiders (and maybe evaders). The new centre-right government of Sweden has, according to the Guardian already lost two cabinet ministers because they have admitted to evading tax payments due when they employed nannies in their domestic households. Both [...]

Tax paid by UK companies

17-Oct-06

The Guardian has given attention to a letter John Christensen and I wrote to that paper last week in which we said the following in response to a claim made by the CBI that companies are planning to leave the UK because of increasing tax burdens:

[N]ational statistics show that corporate profits as a share of [...]