Links Nov 14
Nov 9 - On how the Occupy movement needs to be turned into a programme of reforms to enhance the accountability of corporations and their wealthy controllers."There are already moves towards greater transparency and public accountability ..." Prem cites Finland and Norway as examples - see our recent blog on Finnish transparency here.
EU Transparency rules: needed in all sectors Eurodad
Nov 10 - "The European Commission released a proposal for country-by-country reporting on 25 October, this will help to address corruption surrounding extractive industries and logging. However this will not address the larger problem of tax dodging which is prevalent in these industries and widespread in all other sectors."
Barbados rejects Sarkozy tax haven charge Stabroek News
Nov 13 - "France’s president Nicholas Sarkozy has named Barbados among 11 so-called tax havens which he says will be shunned by the international community. But a Government minister has stoutly defended this island’s reputation." See here for more on the the "we are not a tax haven" spin.
Isle of Man: French President's u-turn welcomed 3FM
Nov 13 - "Speaking at the event in Cannes, Nicolas Sarkozy unveiled a list of what he deemed 'tax havens', which excluded the Isle of Man."
Just when the Isle of Man might need to borrow S&P go and downgrade it Tax Research UK
Nov 11 - On downgrading by Standard & Poor’s Ratings Services of its long-term sovereign rating on the Isle of Man - S&P say " 'However, the island’s ability to diversify its economy further away from financial-sector-related activities could potentially trigger an upgrade'. Richard Murphy advises: " Try Plan B. I wrote it for Jersey, but you’re welcome to it."
Is offshore investing worth the risk? Montreal Gazette
Nov 14 - Q: "There's been a lot in the papers lately about offshore investing. It seems a little dicey. Why take the risk? A: Many of these investments have indeed gone awry for Quebec investors ... ultimately it's the investor's decision and responsibility, and some knowingly opt for non-disclosure, assuming that tax collectors, creditors and/or ex-spouses may have a hard time locating what they don't know exists." Ever heard the golden adage, "Never Assume"?
Repairing Italy’s broken engine Financial Times
Nov 14 - "The tax system should be changed, so that the country’s fiscal burden falls more heavily on assets and less on labour ... and a clampdown on tax evasion enforced."
Rothkopf: socially responsible investors shun gambling. So hit the banks Treasure Islands
Nov 14 - Nick Shaxson on a piece in the Financial Times proposing that the Occupy movement push for the growing community of large institutional investors – including public funds, unions and sovereign wealth funds – to disinvest from banks whose practices are damaging to society.
Occupy Wall Street vs Tea Party The Big Picture
Nov 14 - An interesting comparison, in pictures. From the Treasure Islands blog.