Comments on: How to tackle tax haven abuse http://www.taxresearch.org.uk/Blog/2008/03/05/how-to-tackle-tax-haven-abuse/ Richard Murphy on tax and corporate accountability Sun, 07 Sep 2008 04:02:13 +0000 http://wordpress.org/?v=2.6 By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2008/03/05/how-to-tackle-tax-haven-abuse/#comment-393600 Tax Research LLP Wed, 05 Mar 2008 13:45:14 +0000 http://www.taxresearch.org.uk/Blog/2008/03/05/how-to-tackle-tax-haven-abuse/#comment-393600 Fred As usual your comments are just wrong. The data would only be available to the country in which a person resides Richard Fred

As usual your comments are just wrong.

The data would only be available to the country in which a person resides

Richard

]]> By: Fred Fry http://www.taxresearch.org.uk/Blog/2008/03/05/how-to-tackle-tax-haven-abuse/#comment-393597 Fred Fry Wed, 05 Mar 2008 13:18:24 +0000 http://www.taxresearch.org.uk/Blog/2008/03/05/how-to-tackle-tax-haven-abuse/#comment-393597 Interesting, but that simple suggestion would then give access to all UK account bank data to banks and institutions in Russia, Nigeria, and any other place where it's security can't be garanteed. Sure, countries like that can be excluded, but then they become new 'safe' havens. Not only that, but people who have large declared fortunes can even be targetted when traveling to other countries. Why not just have one 'CENTRAL' bank where all the world's acounts are held there with all the world's banks merely being branches of it. That gives you one central database and no risk for sharing becasue all data is just to and from the 'branch' to the 'bank'. Honesty needs to be asked of all players. Sure this is menat to target some dishonest players, but the suggested solution will require the participation of others whose honesty is also in doubt. Interesting, but that simple suggestion would then give access to all UK account bank data to banks and institutions in Russia, Nigeria, and any other place where it’s security can’t be garanteed. Sure, countries like that can be excluded, but then they become new ’safe’ havens. Not only that, but people who have large declared fortunes can even be targetted when traveling to other countries.

Why not just have one ‘CENTRAL’ bank where all the world’s acounts are held there with all the world’s banks merely being branches of it. That gives you one central database and no risk for sharing becasue all data is just to and from the ‘branch’ to the ‘bank’.

Honesty needs to be asked of all players. Sure this is menat to target some dishonest players, but the suggested solution will require the participation of others whose honesty is also in doubt.

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