PWC’s weekly tax newsletter includes the headline: PwC’s family business survey notes hunger for simpler UK tax rules and lower rates If you can work your way through the password minefield the story is here. And the story is wrong: entirely wrong. It’s political misinformation, yet again. The evidence is simple to find. The Chancellor
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Another strange thing about PWC’s Total Tax Contribution. 178 countries are considered. Places as obscure as St Vincent and the Grenadines make it in. So why don’t Jersey, Guernsey, the Isle of Man, Cayman and the British Virgin Islands feature in the survey? Are they the UK for these purposes? Or would PWC just rather
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I wrote earlier today about PWC’s new Total Tax Contribution report and said I’d expose the fundamental accounting flaw inherent within it. I’ll keep my promise. Look at this diagram: Seen the problem yet? It’s this: the total tax rate is expressed as a percentage of profit. Now note where this is highest: Africa. And
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There are some things that are simply worth reading this weekend and which I won’t have time to blog in detail Please read Prem Sikka on audit failings and the sub prime crisis. Read Dennis Howlett on the same issue. And Dennis again on TI. These aren’t to be missed. Your weekend will be better
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PWC have published their second report on what they call “the total tax contribution” of business. I’ve commented on this before. More than once. It’s illiterate in accounting terms. I’ll explain why in another post. It’s flawed in economic terms. It’s biased. And it fails to consider the impact of its findings. Apart from that,
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The Jersey Evening Post today has a story that says: JERSEY’S involvement in a complex deal involving stricken UK bank Northern Rock has been entirely above board, says the Island’s financial services regulator.John Harris, director general of the Jersey Financial Services Commission, says the £71 billion securitisation structure funnelled through a Jersey trust called Granite
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The National Audit Office has published a review for the Foreign and Commonwealth Office on Managing risk in the Overseas Territories. I have only had a chance to review the summary as yet, but it’s not good news. Take this for starters: Progress has been made in developing the Regulation of Offshore Financial Services, though
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St Pancras is an example of just how badly the private sector can do things in the UK. A couple of weeks ago I went to Paris by Eurostar from Waterloo. The station was more than adequate, Everything I might need was there. I’ve been in Brussels the last couple of days. St Pancras is
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The FT reports that: The US’s largest public sector union is threatening legal action to win the right to nominate directors of US companies. The move comes after the Securities and Exchange Commission voted on Wednesday to reinstate rules allowing US companies to block shareholders from putting forward their own candidates on US boards. Now
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