Monday, September 21, 2009

Anti-tax haven petition launched in France

Our friends and colleagues in France have launched a petition against tax havens and they're calling on activists, trade unionists, businesspeople, faith groups and anyone interested in justice to help them achieve their target of 50,000 signatures.

Let's highlight some of the numbers quoted in the petition:

Tax evasion costs the French state three times the current social security deficit. That's enormous, and partly explains why President Sarkozy and his team are at the political forefront in calling for action.

Tax havens also devastate the public finances of developing countries, which see $800 billion of illicit funds flowing northwards each year, largely through sophisticated offshore structures.

And note this: "Tax havens would not survive without the presence of the banks and the multinational businesses of G-20 countries: 100 per cent of the French banks and other businesses listed on the CAC40 have affiliates in tax havens." Reflect on that statistic and bear in mind that the same applies to most if not all the bourses in Europe and America.

Hence the call for citizen engagement. Bravo to our friends in France


Blogger Henry said...

The tax gap is pretty bad here too.
Swedish tax gap

They still have to learn the lesson - load tax onto that which cannot move.

They don't have the Six Families owning the most valuable bits of the country so they might cotton on.

1:13 pm  

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