Links Jul 27
Jul 27 - "The African Tax Administration Forum (ATAF) held its first General Assembly in Balaclava, Mauritius, this week, focusing on illicit financial flows, tax evasion and tax avoidance among other issues." - Of all unlikely places - although then again, possibly there are good reasons for basing this in a tax haven ...
UK Chancellor of the Exchequer Osborne needs a plan Asian The Guardian
Jul 27 - "The leak that a potential "plan A+" to boost the economy might prioritise cutting the 50% top rate of income tax had one business leader in quiet despair; he was no friend of the higher rate tax band, but the obvious target for any tax cuts must be the hard-pressed majority of standard-rate taxpayers whose real incomes – and spending power – is being so severely squeezed. What was Osborne thinking...?"
Vodafone meeting hit by UK Uncut protest The Guardian
Jul 26 - "Vodafone's annual meeting kicked off on Tuesday with a protest over its tax payments. Demonstrators from UK Uncut, formed last year to highlight corporate tax issues, accused the company of a £6bn "tax dodge", which Vodafone denies." See reference to Vodafone in our blog Tax is for little, vulnerable people.
The 400 Richest Americans Pay An 18% Tax Rate Forbes
Jul 25 - "The 400 richest Americans used to pay 30% of their income on the average to Uncle Sam. Today, they pay 18% on the average, according to Steve Rattner, a Wall Street financier."
U.S.: Taxing and Spending, in Balance New York Times
Jul 23 - An interesting one to ponder: "There are good arguments for balanced-budget tax increases. They don’t lower average after-tax income, since every tax dollar goes directly to providing someone with income. Even those hurt by a tax increase may accept the sacrifice if they know it improves the chances that unemployed friends or relatives will find jobs." - interestingly, not mentioned in the article, curbing tax dodging by multinational corporations and wealthy people.
UBS staff fear more heads will roll swissinfo
Jul 26 - Workers at rival Swiss banking giants UBS and Credit Suisse face grim prospect of job cuts. Meanwhile "top bosses increased their share of the pot by a third ... 'The elite in banking circles have created this war for talent argument to protect their own bonuses,' Denise Chervet, Secretary-General of the Swiss Bank Employees Association told swissinfo.ch."