Links May 28
This new academic paper reviews the regulatory approach to tax havens, including the severe limits to current bilateral agreements between countries. Hat tip: Phineas Baxandall, U.S. PIRG.
OECD is “skeptical” about Rubik accords swissinfo
May 28 - "The head of tax issues at the Organisation for Economic Co-operation and Development has expressed concern over accords drawn up by Switzerland and some European nations to deal with the anonymity of assets." See recent TJN commentary on Rubik here, and read TJN's analysis.
Note to the IMF: it is a universal truth that parents unable to feed their children will steal Tax Research UK
May 28 - Richard Murphy points out: "You can’t feed bankers but not feed the children of Greece. Not if you want anything like social stability – for bankers, let alone the Greeks."
A message to Bob Geldof: I hope your African funds pay their tax Tax Research UK
May 26 - Bob Geldof, rock musician famed for raising aid money for Africa, is launching a new African private equity fund - he’s partnering the UK’s notorious CDC, a major tax haven user.
How Italian assets still evade the tax authorities swissinfo
May 28 - Italy has increased its controls at the Swiss border to prevent undeclared funds from leaving the country. Italian customs officers include trained mechanics specialised in finding hidden money in cars. The report includes an interview with a professional "black money courier".
Fears for Sky Blues grow Political Economy of Football
May 24 - Illustrating the pervasive use of offshore in the world of soccer. "Fears that Coventry City may have to go into administration have grown after an investigation by the Coventry Evening Telegraph revealed that the first call on the club's assets are now held by a company registered in the Cayman Islands ..." Hat tip: The Cynical Tendency.
The Facebook IPO: Shareholders Weren't Invited to the Real Party Taibblog
May 23 - "We see stories like this that hint at a kind of two-tiered market system – in which most of the real action takes place inside an unregulated black-box network of connected insiders who don’t disclose their relationships or their interests."