Tuesday, November 06, 2012

Links Nov 6

Cost of playing east Africa oil game on the rise Reuters
Nov 2 - "A few years ago governments in east Africa would practically pay companies to come and explore for oil or gas on their territory. Those days are gone ... Governments are trying to extract more revenue and benefits from the oil and mining sectors amid perceptions they have not delivered wider prosperity on the world's poorest continent."

See also:

Kenya "moves to create new oil and gas tax rules Engineering News / Reuters

Tanzania Increases Tax Take From Gold Mining Tax-News

Reports in the series Tax competition in East Africa: A race to the bottom?

Looking a gift horse in the mouth swissinfo

Nov 6 - Glencore chief pays a large amount in taxes, due to be distributed to poorer communities within Switzerland. However, some members of those communities believe that the tax should flow back to the countries where the raw materials are extracted.

Brazilian billions beckon for private bankers swissinfo
Oct 29 - "While exploding wealth in China and the rest of Asia has attracted a legion of private banks to the region, some players have also beefed up their Brazilian operations, sensing rich pickings in the growing economy."

If you’re in Brasilia on Friday Treasure Islands

Nov 5 - Nicholas Shaxson will be speaking, alongside Brazil’s justice minister among many others, at Transparency International’s 15th International Anti-Corruption Conference.

The Bailout Of Russian “Black Money” In Cyprus Testosterone Pit
Nov 4 - A “secret” report by the German version of the CIA, the Bundesnachrichtendienst (BND), bubbled to the surface, asserting that the pending bailout of Cyprus would use the money of taxpayers in other countries, particularly in Germany, to bail out mostly rich Russians who have over the years deposited their “black money” in Cypriot banks that are now collapsing.

Caribbean Urged To Stand Ground Over Tax, Regulation Tax-News
Nov 6 - "At a two day international conference on the financial services sector in St. John’s, Antigua, a leading international expert has urged Caribbean nations to stand their ground over mounting international pressure in the area of tax and regulation."

Bankers must be made to bear the cost of their reckless risk-taking Guardian
Nov 4 - Prem Sikka observes that "Separating retail and investment banking is not enough. Speculative banking needs to have unlimited liability."

MPs roast taxman over Starbucks tax bill Reuters

Nov 6 - "[UK] MPs tore into the chief of the tax authority on Monday for allowing coffee chain Starbucks to pay almost no corporation tax despite selling coffee and snacks worth billions of pounds to British customers."

Greece Seeks Taxes From Wealthy With Cash Havens in London New York Times

Nov 5 - "Greece, heavily in debt and desperate to track down money wherever it can, is leaving no stone unturned."

Scandinavian countries top the list of world's most prosperous nations... but U.S. drops out of top ten for the first time Daily Mail

Nov 3 - We haven't explored their methodology, but results of this prosperity index are interesting.


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