Tuesday, July 19, 2011

Links Jul 19

Press Release: Prime Minister's call for greater financial transparency ‘very welcome’ Christian Aid
Jul 19 -
UK Prime Minister David Cameron, speaking in Lagos, said the EU should follow the example of the US having introduced a new law to force mining and oil companies to be transparent about their payments to the regimes where they are extracting wealth.

Since when was carrying a leaflet an offence? The remaining F & M prosecutions are the action of a police force in need of radical reform
Tax Research UK

Jul 19 - On police corruption at play, and police deception in the lead up to the arrest of UK Uncut peaceful activists who staged a sit-in at Fortnum & Mason four months ago in protest over the department store’s alleged tax evasion.

IRS Delays Offshore Bank Reporting Rule Without Touching Policy Bloomberg
Jul 15 - The U.S. Internal Revenue Service is giving more time to banks based outside of the U.S. to implement the Foreign Account Tax Compliance Act (
FATCA). 'Heather Lowe, the director of government affairs at Global Financial Integrity ... said the delay is unnecessary. “That’s certainly going to open up the time period for lobbying.”'

Press Release: Corruption: a crime against society
Transparency International

Jul 18 - 'At the height of the financial crisis in 2009, the G20 promised to tackle bank secrecy and tax havens, but little is done to control whether tax havens actually provide information and legal assistance to tax authorities ... Corruption is a crime against society, it is time governments started to treat it that way.'

Indonesia: Anticorruption commission to summon tax director general The Jakarta Post
Jul 19 - 'The Corruption Eradication Commission (KPK) will summon the tax director general regarding 33 oil and gas companies allegedly evading tax for years ... Tax evasion that has occurred since 2008 reaches US$583 million.'

India Sees Growth Imperiled With Greek-Like Tax Evasion Bloomberg BusinessWeek
Jul 19 - 'India loses 14 trillion rupees ($314 billion) from tax evasion annually, depriving it of funds for investment in roads, ports and power, said Arun Kumar, author of “The Black Economy in India.” General government tax revenue totals an estimated 18 percent of gross domestic product, the lowest among the four BRIC nations, and down from an average 19 percent the past five years, IMF data show.'

Spanish Cops Seize £22m In 'Drug Gang' Bus Sky News
Jul 19 - 'A record 25m euros (£22m) in cash has been seized by Spanish police during a simultaneous raid in Spain and the US over a money-laundering scam ... The group was involved in laundering money from drug trafficking from Colombia through a network of companies principally engaged in export-import, often involving luxury cars, and with accounts in tax havens.'

Hip-hop artist Ja Rule apologizes to court during sentencing for tax evasion newsroom Jersey
Jul 18 - 'Atkins [Ja Rule] apologized to the court blaming his failure on a lack of guidance and knowledge ... He assured the court he never attempted to deceive the government.' Yet another example of celebrity tax-dodging. On "deceive the government" - at least he appears to get the point, and admits it. Perhaps others can take heed.

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