What we wrote is illiminating for most decision makers - especially when the wool is pulled away from their eyes on the rubbish that bankers and accountants say on this stuff

And I think we’ll win this change

I just get emotionally carried away regarding complete closure of the loopholes. I thought the TJN report was aimed at the relevant decision makers.

What riles me, is when bankers and accountants want the status quo to remain by deceitfully convincing all that the EUSD is adequate. Of course, the “lower than expected results” are as a result of investors pulling their money back to their country of residence or opting for voluntary exchange of information.

You’re a little unkind - this brieifing was written for the public - and if we’d have covered the complexity that you relate we’d have needed to add a 15 page glossary

There’s a conflict: brevity and sufficiency v complexity and comprehensivness

But I do apprricate you additional comments

Richard

I’m afraid to tell you that bankers are miles ahead of TJN in methods used to avoid the EUSD. Besides the simple list TJN mentioned, the numerous ways to avoid the savings tax include:- PartnershipsNon Ucits: The entire group of funds in the Caribbean eg Cayman, BVI, Bermuda avoid the EUSD by merely recatorigizing their UCITS equivalent funds into “Non-UCITS equivalent” at a stroke of a pen. Also Swiss banks created Luxembourg Non-UCITS bond and money market funds which they can provide to EU residents in Switzerland.Other funds beyond the EUSD net include Luxembourg Sicav-2, Hedge funds, Unregulated funds, Experienced Investor Funds (Channel islands, Gibraltar, isle of man), Professional Investor Funds (Dublin), Qualifying Sophisticated Investor Funds, etc.Derivatives:Including Interest Swaps. But most important is the “Certficates on Bonds or Certificates on baskets”. These”certificates” are based on a minimum of 5 bonds or 5 equities and unbelievably categorised in places like Switzerland as a derivative. This is the ultimate tax avoidance creation.Structured Notes: These products contain 90% bonds and 10% derivatives, yet are classified as derivatives as their entire value is based on an underlying, hence avoiding the EUSD.Bond funds with 60% grandfathered bonds and 40% normal funds fall below the interest threshholdReverse convertable bond funds which give high yields but are exemptInternational Pension Plans and Annuities: such as from Guernsey provide a product similar to insurance wrappers.Other Assets: The EUSD must be extended to Property funds and Ground rent funds and REITS, Deferred interest savings accounts, Precious metals which all can be held in tax haven bank accountsIf Tax Justice Network played chess against the bankers, the TJN would lose as the banks are 6 moves ahead.