Links Jun 19

Secret State Golem XIV

Jun 19 - Some very interesting points raised here. "Recently Off-shore havens have added to financial secrecy another valuable service – data and communications secrecy." The piece cites Nick Shaxson's Treasure Islands.

Los Zetas leader accused of laundering drug money in U.S. quarter horse racing Government Security News

Jun 13 - Report on Mexican drug cartel money laundering of millions of dollars in the U.S., includes use of front companies to disguise ownership.

Vatican bank may fail transparency test Canada.com/Agence France Presse

Jun 17 - "Moneyval, the Council of Europe's anti-money laundering experts, is due to rule at the beginning of July on the whether the Holy See has cleaned up its act to international monetary standards."

Swiss Bankers Face 'Unprecedented' Challenges Tax-News

Jun 19 - "The Swiss Private Bankers Association (SPBA) has recently published details of its 2011 annual report, outlining the major challenges currently facing the Swiss financial centre, particularly in the area of tax, regulation and financial market access." The article notes: "Switzerland remains the largest cross-border private wealth management market, albeit only slightly ahead of the UK and its satellites (26%), and the US (20%)."

Law firm specialising in tax havens to create 75 jobs in Dublin The Journal

Jun 19 - One of the most well-known corporate and finance law companies advising international clients on the laws of global tax havens, Maples and Calder, "is expanding its operations [In Ireland] as a result of growing international demand." 

Zambians haven’t benefitted from $8bn copper exports Financial News

Jun 18 - "Zambia is Africa’s top copper producer and it is in the midst of a spectacular boom ... But the tax revenue to build schools, train and employ teachers, sink boreholes and buy medicine has simply not materialised. Wealth from Zambian copper has not trickled down – 64% of the population live on less than $2 per day ..."

Arms and oil bosses refuse to attend corporate responsibility inquiry Guardian

Jun 17 - Reporting on a UK parliamentary inquiry "into the use of hundreds of millions of pounds of taxpayers' money to help dictators build arsenals and facilitate environmental and human rights abuses."

UK: Tax avoiders have nothing to fear from George Osborne Tax Research UK

Jun 19 - Richard Murphy explains why "an general anti-avoidance principle rather than a general anti-avoidance rule ... would provide the power needed to deliver a fair tax system in the UK."

Links to some media coverage of the report "Tax Incentives and Revenue Losses in Tanzania", launched by the Policy Forum in collaboration with TJN-Africa and ActionAid, available on the TJN-Africa website. The report is part of a series of studies under the theme: "Tax Competition in East Africa: A Race to the Bottom?"

Hat tip: Alvin Mosioma.

Tanzania: Good Infrastructure to Boost Taxes - MPs allAfrica

New report puts Budget in danger The Citizen

MPs offer hints to cut tax exemptions IPPmedia