According to Accountancy Age Arther Levitt, former head of the SEC in the States has said opaque accounting is putting US pension funds at risk.
He’s right.
Adopting country-by-country reporting would be one thing that would reduce the risk. After all, pensioners are real people living in real places with real interest in what is happening in […]
I’m grateful to friends in Jersey for sending me a letter sent to all members of the States of Jersey on Monday by Terry Le Sueur, Jersey’s finance minister.
Terry’s been reading my blog. And in particular the one about the Isle of Man failing to secure EU approval for its tax regime.
He says:
He’s right on […]
I am profoundly annoyed about the debate on migrant workers.
I’m well aware that migration can cause problems. I live in the area with the highest proportion of Eastern European workers in the UK - and I am well aware from reports from my wife (who is a GP) of the strain they are putting on […]
The Guardian has reported that Warren Buffett, the United States’ second-richest man, has again complained that he pays a lower rate of tax than any of his staff - including his receptionist. He has said:
The taxation system has tilted towards the rich and away from the middle class in the last 10 years. It’s dramatic; […]
Prem Sikka asks this question on the Guardian blog today. He illustrates his argument with a powerful analogy:
Imagine visiting a dentist for some surgery. The dentist charges £200, but botches the surgery and inflicts life long discomfort, pain and further expense. Just when you are getting ready to sue the dentist for negligence you learn […]
CNN Money has reported that Stanley O’Neal, who left Merrill Lynch as CEO today has left with a package of up to $160 million.
The company reported a loss of $8 billion last week on sub-prime mortgages.
O’Neal has made 2% of that to walk away.
I’m not sure what I find more offensive:
1. Lending to people who […]
The FT has reported that the Isle of Man has concluded Tax Information Exchange Agreements (TIEAs) with the Nordic countries to follow on from those it concluded with the US in 2002 and the Netherlands in 2005.
The TIEA covers two issues. The first part covers shipping and aircraft taxation and means international businesses from those […]
Dennis Howlett has written a good blog on this issue.
I won’t quote at length. I’ll just suggest you go and have a read. It’s worth it.
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I know Nicholas Sarkozy has proposed it and now it is catching on: the latest craze is tax-free overtime. Malta is the latest mimic. As Maltatoday reports:
Alfred Sant has once again set the country’s agenda by proposing that all overtime should be made tax-free.
You just have to presume those who propose these things are either […]
Ken Griffin, one of Ireland’s best journalists, had an article in the Sunday Tribune this weekend looking at the tax affairs of two Adobe companies based in the Republic:
US SOFTWARE company Adobe’s two Irish subsidiaries had a combined turnover of $2.6bn ( 1.83bn) last year yet paid just $5m ( 3.5m) in Irish corporation tax, […]
