Interesting to note that the FT reports the following this morning:
Man Group’s US brokerage has told a US court that a subsidiary of UBS, the Swiss bank, was partly to blame for failing to spot an alleged $179m (£90m) fraud at a Philadelphia hedge fund.
The Cayman Islands administration business of UBS was added last Friday [...]
Word has leaked that the Tax Justice Network is working on a draft Code of Conduct for Taxation. As Finance Director put it:
The Tax Justice Network, a coalition of researchers and activists concerned about tax avoidance, is developing a code of conduct on business taxation. “Our objective is to look at how good practice could [...]
I found the following on the web pages of Mutual Trust:
The tax authorities of the major industrial nations have become more sophisticated and their governments are hungry for revenues. The tax authorities increasingly exchange information with each other although they compete against each other for revenues too.
Countries like the United Kingdom have passed legislation intended [...]
I’ve heard rumour that Tescos.com is going to Switzerland. The reason is simple. It’s being thrown out of Jersey who are trying to clean up their act on the import and immediate re-supply of CDs and DVDs to the UK to exploit a VAT loophole that is costing the UK government up to £200 million [...]
As readers of this blog will be aware, I take an interest in the economic and taxation affairs of Jersey. That’s partly because I advised a Scrutiny Committee of the States of Jersey for a while. It’s true, that under pressure from ministers I was replaced by a rampant right-winger, but it’s curious to note [...]
I’ve never been convinced that land taxation is the ultimate solution to the taxation problem, although I am aware of the Georgist view.
But I do believe land taxation is important. I also happen to believe it should be progressive, unlike our existing council taxation.
Ashley Seagar discussed some of the issues in the Guardian a couple [...]
A surprisingly well balanced review of the current state of flat taxes is to be found in last week’s Economist. It concludes:
On balance, it would seem that the flat-tax revolution is more likely than not to slow, and even reverse eventually, as the income gap between western and east-central Europe narrows.
In other words, the phenomena [...]
The attack on the on-line gaming industry is intensifying. Those who made fortunes from creating it are being targeted in the US.
Which proves that it is possible to close down illegal activities that operate across borders. In which case all it would take is similar will to close down the suppliers of corruption services.
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The Jersey Economic Development Plan 2007 is published by the Minister for Economic Development. It says on page 12 that the values underpinning the plan include:
We will always be fair and honest and act with integrity
That’s a barefaced lie. You can’t be fair, honest and act with integrity and promote the laws that Jersey does. [...]
The Tax Justice Network talks about ‘the suppliers of corruption services’ quite often. These are the apparently respectable people who provide the means for people to evade tax. I stress that these suppliers of corruption services might do nothing that is in itself illegal. But few of them can be unaware of the use to [...]
