Accountancy Age has reported that Dave Hartnett, HM Revenue & Customs’ acting chairman has said that HMRC is encountering new and aggressive avoidance techniques. He said there are:
pockets of advisers who were designing bespoke, niche avoidance schemes to business, and that a pattern was emerging where companies would move brands into an offshore company and […]
Dave Hartnett, HM Revenue & Customs’ acting Chairman has told the Public Accounts Committee that: has told the
When I meet the chairman of a public company it is to look him straight in the eye to explain why and how we are conducting an investigation. That is why I told the chairman of a public […]
Accountancy Age reports that:
Audit committees don’t understand the off-balance sheet structures that are blowing holes in company balance sheets, investors have insisted.
The comments, from the Association of British Insurers, are some of the strongest criticisms of the profession’s role during the credit crunch.
Let’s be clear though: audit committees won’t be alone in this. Off balance […]
I was amused to note that tax haven lobby group The Sovereign Society had a feature on whether Jamaica might be the next tax haven on its site this week. It said:
Whenever we at The Sovereign Society look at possible offshore venues for investment, tax savings, asset protection and maximum financial privacy we ask these […]
Prem Sikka had this letter in the FT yesterday, follwoing on from a blog here:
PM’s proposed cure for markets is problematic
From Prof Prem Sikka.
Sir, The UK prime minister’s view that a deficit of transparency, particularly in commercial organisations, is the source of many of the problems plaguing financial markets is spot on (”Ways to fix […]
These are my links for January 29th:
International Security - Emerging Threats - Dirty Money - UPI.com - TJN in the limelight on illict funds - again
The Treasury 2008-Varney and Northern Ireland - Is the Treasury planning tax cuts for Northern Ireland? One to watch
Optimizing performance for WordPress - Just for bloggers (with thanks to Dennis […]
The World Bank has a copy of the speech of Dr. Ngozi Okonjo-Iweala, Managing Director of the World Bank Group at the Fight against Corruption conference going on in Bali right now on their web site.
I’d recommend it all, because I agree with large parts of it. Like this:
Collective action against corruption requires the need […]
I was amused to read a story in the Guernsey Press and Star which had the headline:
GUERNSEY’S independence is seriously under threat from the EU and more has to be done to safeguard it.
According to the report the above was:
the overwhelming verdict from politicians gathered at La Trelade Hotel yesterday discussing the surrender of sovereignty […]
Reuters has reported that:
A former Arthur Andersen partner responsible for the Enron Corp account has settled allegations that he violated securities laws when he signed audit reports that were “materially false and misleading,” the U.S. Securities and Exchange Commission said on Monday.
But, they note:
Duncan, who did not admit to or deny the allegations, has agreed […]
The Daily Mail has joined those giving advance publicity to the TUC report on tax planning and avoidance to be published on Friday. Ir says:
It estimates controversial ‘non-domicile’ rules allow them to avoid about £3.8billion of taxes.
and
About £3.2billion is lost from ‘income shifting’, typically putting money in a wife’s name. Other loopholes and clever accounting […]
