Wednesday, November 28, 2012

Links Nov 28

The UK's approach has attracted many post-Soviet billionaires, including some on the run Guardian
Nov 27 - Continuing the Offshore Secrets series (blogged here), noting that use of BVI entities to disguise Russian movement of funds into Britain appears to be widespread. See also, highlighting the New Zealand connection: At Least Half of the 21,500 Companies Revealed by the Guardian/ICIJ Offshore Investigation Have Connections With Rogue Agent GT Group naked capitalism

Treasury to crack down on UK’s offshore tax havens BVI news
Nov 26 - Interesting to read, in the British Virgin Islands press, this story on "Radical plans to force the UK’s tax havens to reveal the names behind hidden companies, account holders and trusts have been drawn up by the Treasury."

See also:
UK clampdown on ‘tax havens’? Isle of Man Today

Nov 28 - "Another dark cloud is looming on the horizon for the island’s finance sector with the UK poised to introduce more regulation aimed at clamping down on tax avoidance."

Indebted Caribbean tax havens look to tax foreign investors The Christian Science Monitor
Nov 26 - Industry analysts say new fees and taxes could bring in needed money to a region where some debts are near that of Greece. But could they scare off investors?

Tax avoidance: time for a FairTax logo to reward the good guys Guardian
Nov 27 - "HM Revenue & Customs will never name and shame tax avoiders so what about a FairTrade-style labelling system to reward those who can pay and will pay."

CEO Council Demands Cuts To Poor, Elderly While Reaping Billions In Government Contracts, Tax Breaks Huffington Post
Nov 25 - More on a story linked previously. "The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills."

We have the power to change the rules Al Jazeera

Nov 28 - On how "Tax havens are are allowing a "tiny global elite" to "extract trillions of dollars" from rich and poor countries alike." And expressing beautifully: "Frederick Douglass, a leader of the 19th century abolitionist movement which brought an end to slavery, once said, 'Power concedes nothing without a demand'. If we want to change rules that have been written by the few and for the few, we must look outside existing power structures to the power of the many. We know from history that when people demand their rights, they can move mountains and change whole systems. Right now, there is a special moment of opportunity."

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