The United States Senate Permanent Subcommittee on Investigations Committee on Homeland Security and Governmental Affairs published its report entitled Tax Haven Abuses: The Enablers, The Tools and Secrecy on 1 August.
This is an important report. It will require a lot of analysis.
But I've got one, I admit, very personal reason to welcome it. The very first line of the report reads as follows:
Offshore tax havens and secrecy jurisdictions today hold trillions of dollars in assets.
It the refers to footnote 1. Footnote 1 says:
See, e.g., “The Price of Offshore,” Tax Justice Network briefing paper (3/05)(estimating that offshore
assets of high net worth individuals now total $11.5 trillion)
'The Price of Offshore' was a report 'Prepared by Tax Research for the Tax Justice Network/UK'. It was in effect a collaboration between myself and John Christensen.
As a campaigner you sometimes wonder whether you're whistling in the dark. And just occasionally, like this, someone gives you a hint that it's worthwhile.
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I have created a Blog about financial havens in Europe where I analyse and compare legislation and what is actually implemented.
Only official public information (legal, parliamentary, judiciary, administrative…) is used to tighten up the ship on management and governance issues. Documents that are not originally in English are translated.
This blog is in the framework of a course I have been asked to provide about financial havens in Europe (Master’s degree in Criminal Sciences) and is intended to provide investor, companies head offices and regulators with information on what’s going on.
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