Tax Research UK

These are my links for March 27th:

• «Steuerhinterziehung kostet Leben» - News Wirtschaft: Konjunktur - tagesanzeiger.ch - .
  Herr Murphy gets about - even to Switzerland

Richard Murphy Delicious

These are my links for March 20th through March 26th:

• Asia Times Online :: An imbalanced summit - .
  The IMF and world financial system need reform because “What has emerged is a group of leading nations that are now the major world debtors. These are highly indebted rich countries that have sustained trade and fiscal deficits for more than a decade and have accumulated major debts, thereby draining credits to developing nations. “   

  Read the rest.

• FT.com / UK - Cameron acts to end confusion - .
  The Tories are re-arranging the deckchairs   

  And not a word from them on tax havens, I note

• FT.com / Asia-Pacific - China calls for new reserve currency - .
  Yes please
• Tax havens may find days of banking on secrecy are numbered - The Irish Times - Tue, Mar 24, 2009 - .
  Harsh words included from John Christensen   

  Rightly so.

Richard Murphy Delicious

These are my links for March 17th through March 24th:

• FT.com / UK - Cameron acts to end confusion - .
  The Tories are re-arranging the deckchairs 

  And not a word from them on tax havens, I note

• FT.com / Asia-Pacific - China calls for new reserve currency - .
  Yes please
• Tax havens may find days of banking on secrecy are numbered - The Irish Times - Tue, Mar 24, 2009 - .
  Harsh words included from John Christensen 

  Rightly so.

• U.K. Should Refrain From Fiscal Stimulus, CBI Says (Update1) - Bloomberg.com - .
  Let’s unpick what the CBI means: please support banks but please don’t help ordinary people is the message 

  Callous indifference I call it

  Dire economics to.

Richard Murphy Delicious

These are my links for March 16th through March 20th:

• Andrew Goodall: The Barclays papers – is it time to outlaw avoidance? - .
  Andrew is a moderate commentator on tax issues. A thoughtful man, not inclined to radical action. I don’t think he’ll dispute that. 

  And he thinks it is time for change. Radical change.

  The times they really are a changing. Welcome on board Andrew

• EUobserver - Britain must tackle its own tax havens - .
  Sometimes you have to agree with Luxembourg
• U.K. Looks at Barclays’s Tax Vehicles - WSJ.com - .
  Guys - I’m not a professor, but it’s kind of you to say so 

  Mind you - I’m open to offers

• Tax Justice Protest Against Guardian Tax Dodging » Guy Fawkes’ blog - These people would not recognise tax justice if they saw itThis is not Guy Fawkes - this is Guy Fakes
• FT.com / Europe - Europe urged to present united front at G20 - .
  Save us, not the world, seems to be the message from business in Italy

Richard Murphy Delicious

These are my links for March 18th through March 19th:

• Tax Justice Protest Against Guardian Tax Dodging » Guy Fawkes’ blog - These people would not recognise tax justice if they saw itThis is not Guy Fawkes - this is Guy Fakes
• FT.com / Europe - Europe urged to present united front at G20 - .
  Save us, not the world, seems to be the message from business in Italy

• 國際新聞_Barclays內部文件外露 引爆英國稅局調查其非法逃稅_股市新聞_鉅亨網cnYES - .
  I have no idea what this one is about, Bar Barclays. 

  And it seems to mention me.

Richard Murphy Delicious

These are my links for March 13th through March 18th:

• The less you contribute to OECD budget the more influence you have on the policies : Ethics and governance in the European Financial centers - That OECD blacklist is riddled with problems

  And why isn't the Isle of Man mentioned?

  This won't do.

• RTÉ News: Ireland benefits from tax haven crackdown - Don't worry - you'll be next

  It will be a condition of your Euro bail out…

• Barclays in court again to halt publication - Times Online - Barclays aren't giving up

  Three cheers for the Guardian!

• FT.com / Video & Audio / Interactive graphics - G20 Wishlist - The FT says this is accurate

  I'm not so sure - I'd have said Germany had a tax haven priority and it is not listed

• Perchard: I did swear in States » News » This Is Jersey - These are the sort of people who run Jersey.

  Would you trust them to honour their commitments?

  No, nor would I.

• International deals on sharing tax data could take years to complete - International Herald Tribune - .
  "There is some doubt about how long the enthusiasm of the newfound converts will last. After an outcry in the Swiss media following the announcement that the country would comply with the OECD standards, the Swiss government issued a statement Saturday saying the decision "does not constitute 'the end of bank secrecy,"' and said the government "has stated on several occasions that Switzerland has no intention of relinquishing bank secrecy."

  "The Swiss are trying to gain time," Nicolas Michellod, an analyst with the Zurich office of with Celent, a international financial research firm. "Negotiating new tax treaties with each country will take years."

  He said that could give opponents of the measure on the Swiss right, whom he described as feeling aggrieved by the international criticism, a chance to drag out any changes to the banking laws until the issue moved out of the headlines."

• AFP: Secrecy reforms don't faze Swiss banks: reports - Of course not: for a start it will take a decade for anything to happen
• Jersey fears for a future without tax schemes | - .
  Nick Mathiason asks if Jersey has a future with out to tax avoidance.

  I can tell him. The answer is no

• Bad boys, old boys, new thinking | AccMan - Dennis Howlett with sound thinking on regulation
• Barclays 'makes £1bn a year' through tax avoidance schemes | Mail Online - The Mail picks up the Barclays story and runs with it

  Rightly so: this sort of thing has to be ended for good and middle England rightly dislikes it

• Non-governmental Groups In Jersey Protest At Tax Havens - "Militants" from Tax Justice Network

  Are they going to call Sarkozy, Merkel, Brown and Obama militants next?

  They're on our side

  But the media can't quite get their heads round that yet.

• Prem Sikka: Why we need a people-centred approach to banking | - .
  Oh yes
• www.news.admin.ch - Switzerland to adopt OECD standard on administrative assistance in fiscal matters - Saying 'Swiss banking secrecy stays intact' is not a good move right now.

  So theme tact would help.

• FT.com / Europe - Liechtenstein eases bank secrecy rules - .
  But note:

  "Liechtenstein will go not so far as to abolish bank secrecy. But the principality will co-operate more fully with foreign tax authorities and will end the confusing distinction, also retained by Switzerland, between tax evasion, a civil offence, and tax fraud, a crime."

  That's progress.

  But it's only limited progress.

  We will demand more. And rightly so. Bank secrecy is, after all, a crime against humanity at large.

  Don't believe me? Ask all those who have suffered the despoliation of their nations as they loot funds for the benefit of their Swiss and Lichtenstein bank accounts.

  A billion voices can bring testimony to support my case.

• FT.com / Companies / Financials - Fury at Madoff over claim he acted alone - .
  I simply don't believe he acted alone.

  Just not possible.

  And where is the money?

Richard Murphy Delicious

These are my links for March 12th through March 16th:

• International deals on sharing tax data could take years to complete - International Herald Tribune - .
  "There is some doubt about how long the enthusiasm of the newfound converts will last. After an outcry in the Swiss media following the announcement that the country would comply with the OECD standards, the Swiss government issued a statement Saturday saying the decision "does not constitute 'the end of bank secrecy,"' and said the government "has stated on several occasions that Switzerland has no intention of relinquishing bank secrecy."

  "The Swiss are trying to gain time," Nicolas Michellod, an analyst with the Zurich office of with Celent, a international financial research firm. "Negotiating new tax treaties with each country will take years."

  He said that could give opponents of the measure on the Swiss right, whom he described as feeling aggrieved by the international criticism, a chance to drag out any changes to the banking laws until the issue moved out of the headlines."

• AFP: Secrecy reforms don't faze Swiss banks: reports - Of course not: for a start it will take a decade for anything to happen
• Jersey fears for a future without tax schemes | - .
  Nick Mathiason asks if Jersey has a future with out to tax avoidance.

  I can tell him. The answer is no

• Bad boys, old boys, new thinking | AccMan - Dennis Howlett with sound thinking on regulation
• Barclays 'makes £1bn a year' through tax avoidance schemes | Mail Online - The Mail picks up the Barclays story and runs with it

  Rightly so: this sort of thing has to be ended for good and middle England rightly dislikes it

• Non-governmental Groups In Jersey Protest At Tax Havens - "Militants" from Tax Justice Network

  Are they going to call Sarkozy, Merkel, Brown and Obama militants next?

  They're on our side

  But the media can't quite get their heads round that yet.

• Prem Sikka: Why we need a people-centred approach to banking | - .
  Oh yes
• www.news.admin.ch - Switzerland to adopt OECD standard on administrative assistance in fiscal matters - Saying 'Swiss banking secrecy stays intact' is not a good move right now.

  So theme tact would help.

• FT.com / Europe - Liechtenstein eases bank secrecy rules - .
  But note:

  "Liechtenstein will go not so far as to abolish bank secrecy. But the principality will co-operate more fully with foreign tax authorities and will end the confusing distinction, also retained by Switzerland, between tax evasion, a civil offence, and tax fraud, a crime."

  That's progress.

  But it's only limited progress.

  We will demand more. And rightly so. Bank secrecy is, after all, a crime against humanity at large.

  Don't believe me? Ask all those who have suffered the despoliation of their nations as they loot funds for the benefit of their Swiss and Lichtenstein bank accounts.

  A billion voices can bring testimony to support my case.

• FT.com / Companies / Financials - Fury at Madoff over claim he acted alone - .
  I simply don't believe he acted alone.

  Just not possible.

  And where is the money?

• Tax Havens Pledge to Ease Secrecy Laws - WSJ.com - .
  It's not just me. Here's John Christensen being quoted out of context too.
• Is this the end for treasure islands? - .
  Is it a sign that you've made it when a) your research isn't credited and b) you're quoted out of context

  Discuss.

• A quoi sert la liste noire des paradis fiscaux ? - I get around these days
• FT.com / Companies / Financial Services - Auditors suffer liability setback - .
  Actually, some of us call that progress
• PwC, Berg Kaprow Lewis receive petty cash fines | AccMan - .
  Dennis is right.

  Does a £750 fine have any meaning for PWC?

Richard Murphy Delicious

These are my links for March 11th through March 13th:

• FT.com / Europe - Liechtenstein eases bank secrecy rules - .
  But note: 

  “Liechtenstein will go not so far as to abolish bank secrecy. But the principality will co-operate more fully with foreign tax authorities and will end the confusing distinction, also retained by Switzerland, between tax evasion, a civil offence, and tax fraud, a crime.”

  That’s progress.

  But it’s only limited progress.

  We will demand more. And rightly so. Bank secrecy is, after all, a crime against humanity at large.

  Don’t believe me? Ask all those who have suffered the despoliation of their nations as they loot funds for the benefit of their Swiss and Lichtenstein bank accounts.

  A billion voices can bring testimony to support my case.

• FT.com / Companies / Financials - Fury at Madoff over claim he acted alone - .
  I simply don’t believe he acted alone. 

  Just not possible.

  And where is the money?

• Tax Havens Pledge to Ease Secrecy Laws - WSJ.com - .
  It’s not just me. Here’s John Christensen being quoted out of context too.
• Is this the end for treasure islands? - .
  Is it a sign that you’ve made it when a) your research isn’t credited and b) you’re quoted out of context 

  Discuss.

• A quoi sert la liste noire des paradis fiscaux ? - I get around these days
• FT.com / Companies / Financial Services - Auditors suffer liability setback - .
  Actually, some of us call that progress
• PwC, Berg Kaprow Lewis receive petty cash fines | AccMan - .
  Dennis is right. 

  Does a £750 fine have any meaning for PWC?

• OECD Prepares Tax-Disclosure List for G-20 Meeting (Update1) - Bloomberg.com - .
  The Organization for Economic Cooperation and Development said it has prepared a list of countries that it says don’t fully meet its standards of information disclosure on tax matters, including Austria, Luxembourg and Switzerland. 

  That at least will set the cat amongst the pigeons.

  And no more can it be argued that this is focussed only on non-OECD states

• Second Dissolution of the British Empire (What’s Left) - .
  It’s funny enough to make it worth bookmarking 

  The American Right at it’s best, or worst, on the issue of tax havens

  What’s amazing is that this is the rhetoric and reporting those running these places believe. I know - I’ve heard them say so

• FT.com / In depth - Fifty who will frame a way forward - The FT thinks those in power now will get us out of this messUnlikely

  Very unlikely

• Regulate financial markets while we still can | vox - Research-based policy analysis and commentary from leading economists - Radical stuff from a former member of the monetary policy committee of the Bank of England
• BBC NEWS | Business | Barclays ‘corrupt regime’ claim - Global witness says banks play a big roll in corruptionI believe them

  I know how much work they put into this

  See www.undue-diligence.org for more

Richard Murphy Delicious

These are my links for  March 11th:

• 45 percent of world’s wealth destroyed says Blackstone CEO - International Herald Tribune - .
  Not true 

  The measures used to assess 45% of the world’s wealth were wrong

  Something quite different

• Debtonation » Blog Archive » QE and the debt-deflationary spiral. - .
  Ann Pettifor on why we need to create money to replace that which is being destroyed
• We’re not a tax haven, argue finance leaders » News » This Is Guernsey - See my post yesterday on the elephant testhttp://www.taxresearch.org.uk/Blog/2009/03/10/the-elephant-test/
• FT.com / UK / Business - CBI chief warns over G20 ‘red herrings’ - The CBI says tax havens are a red herringSo why do so many of their members use them?

  They’re wrong - and they know it, but want to preserve their privelige

• Tax Justice Network: The FT thinks tax havens are a diversion - TJN demolishes the FT’s arguments

Richard Murphy Delicious

These are my links for March 9th through March 10th:

• Tax Justice Network: The FT thinks tax havens are a diversion - TJN demolishes the FT’s arguments
• FT.com / Companies / Banks - Barclays warned on toxic asset dumping - As it notes:”Barclays was warned on Monday that its balance sheet would be subject to forensic Treasury examination if it decided to dump toxic assets on the taxpayer, amid signs that the bank could face a higher-than-expected bill for using the government’s asset insurance scheme.”

  I like that.

  Bring it on, as I think some say

• FT.com / Companies - FBI in search for Stanford ‘victims’ - As they note:”The agency is seeking information from anyone who invested in either Stanford Financial Group or its affiliated companies – Stanford Capital Management, the Stanford Group Company, the Stanford International Bank, the Stanford Trust Company, and the Bank of Antigua.”

  Now I wonder they’re having problems with the victims coming forward? Could it be that they don’t want to admit their own offshore fraud?

• The greasy pole | AccMan - The problems of Generation Y auditors
• Hurricane Obama hits offshore tax havens - The Daily Mail features tax havensAnd says “While it is easy for politicians to bash offshore tax havens, obtaining an international agreement on a crackdown will be far from straightforward.”

  Some spots can’t quite bring themselves to change even though the Daily Mail readers suffer badly as a result of tax haven activity

  And they might call the STHAA ‘draconian’ but don’t doubt it - it can be delivered

Richard Murphy Delicious