The US Senate Permanent Subcommittee on Investigations issued the following press release this morning:
Permanent Subcommittee on Investigations to Hold Hearing June 17:
Tax Haven Banks and U.S. Tax Compliance
The Permanent Subcommittee on Investigations has scheduled a hearing, Tax Haven Banks and U. S. Tax Compliance, on Thursday, July 17, 2008, at 9:30 a.m., in Room 106 […]
Jersey has published its figures for tax retained under the EU Savings Tax Directive in 2007. The press release they put out is misleading. I thought it would be useful to compare the 2007 data with that for 2006 as an indication of how things are really going.
The data is as follows:
It’s important to note […]
A new commission appointed by Norway will investigate ways of putting a stop to the huge flows of money into tax havens. Tax evasion and corruption are believed to cost poor countries at least 50 billion dollars a year.
The commission, launched last week, includes Eva Joly, a special advisor on corruption for the Norwegian development […]
On Thursday (when I was at a conference and out of blogging action) the FT reported that:
The US Internal Revenue Service is to solicit the help of the world’s top accounting firms in its widening effort to clamp down on offshore tax evasion.
The IRS is planning to speak on Tuesday to six accounting firms about […]
The Irish have a Tax Commission in progress at present. It’s latest mad idea in a country that already seems to believe that tax abuse is source of social benefit is to declare the Gaelic speaking Western Isles as tax havens. As the Irish Independent puts it:
All the Irish islands could become tax havens - […]
I’ve already written about Tax Havens: Creating Turmoil and the recommendations for change we make in it. There is a reason for all the effort expended in its creation: the recommendation made would have real, positive impact on the world. For example, if they had been adopted they would have reduced the impact of the […]
I spoke at the meeting calling for tax justice in London this evening, supported by a wide range of organisations. This is what I said:
We have already heard this evening of the need for tax justice for a great many people who live in this country. I wholeheartedly agree with what has been said. But […]
Chris Meares, CEO of HSBC private banking, gave evidence to the Treasury Select Committee on Offshore Financial Centres yesterday. They have, apparently, also submitted written evidence.
In that evidence they have apparently claimed that the proportion of assets offshore has fallen from ‘about a third’ in 1996 to 20% in 2005. They made some play on […]
I attended the first hearing of the Treasury Select Committee on Offshore Financial Centres this morning. It was to this committee that we submitted Tax Havens: Creating Turmoil.
The session started well when John McFall, the committee chairman, quoting from Creating Turmoil, as referred to in the Observer on Sunday, asked the panel their first question, […]
In ‘Tax Havens: Creating Turmoil’ I have sought to illustrate the scale of the tax haven problem, to explain how they really work (an analysis that I can guarantee will be rejected by all those who work there, which will not in any way invalidate it) and then suggest how the turmoil that tax havens […]
