Friday, June 17, 2011

Links Jun 17

Zambia: 15 CSOs demand mining agreements renegotiation The Post Online
Jun 17 - Civil Society Organisations are demanding that the government renegotiate agreements it entered into with mining companies on tax concessions if Zambians are to benefit from the country's mineral resources.

Swiss accounts used to evade Korean tax Korea Joongang Daily
Jun 16 - Korea’s tax agency has revealed that it suspects secretive Swiss bank accounts are being used to launder Korean money by investing in Korean stocks. A reported 1.8 trillion won ($1.6 billion) has been invested in the Korean Kospi and Kosdaq markets via Switzerland.

Swiss Tax Haven Lures Rich From Emerging Markets Bloomberg
Jun 16 - 'Wealthy emerging-market clients are flocking to Switzerland as a haven from instability, filling a gap as Americans and Europeans flee a crackdown on tax evasion. Customers from developing economies deposited a record 52 percent of the 1.96 trillion francs ($2.3 trillion) held in offshore Swiss bank accounts last year, according to the Boston Consulting Group.'

Santander bank's ruling family faces tax fraud investigation Guardian

Jun 17 - The mighty Botín banking family, which runs the Santander bank, the biggest in the eurozone, has been placed under investigation for tax fraud by Spain's national court because of money held in a Swiss bank. Spain learned of the presence of the money in HSBC Private Bank (Suisse) from French authorities.

Punk Banking The Cynical Tendency

Jun 16 - What modern banks are in terms of the intellectual history of the late 20th Century -
'There is certainly anarchy, with no other word to describe the way the banks interact amongst themselves and in relation to society or community.'

Justice on the heels of Ben Ali SlateAfrique
(In French)
Jun 16 - In France, Sherpa and Transparency International brought an action on the illegally acquired assets of Ben Ali and his family, seeking to return illicitly acquired wealth to the people of Tunisia. So, far, within 3 months, the authorities have inquired on a private jet, and bank accounts holding 12 million Euros.

Australia: Taxpayer Twiggy goes out on a limb Financial Review

Jun 17 - Andrew "Twiggy Forest," CEO of Fortescue metals group, is lobbying about Australia's minerals resource rent tax, and claims he is "standing up for the little guy" against multinationals. Forrest has never signed a corporate income tax cheque for any of the listed companies he has run in the past 16 years.

Northern Ireland's corporation tax cut: what is it for unless to gamble public money with the winnings going to the rich? Tax Research UK

Jun 17 - Richard Murphy comments on an article in the Belfast Telegraph, on the debate as to whether Northern Ireland would benefit from a reduction in the rate of corporation tax.

Greek debt crisis: How did the economy get so bad?

Jun 16 - Panagiotis Petrakis, director of the Economics Department at the University of Athens 'points out that as money flowed out of government's coffers, tax income was hit due to widespread tax evasion, which was not only accepted but embraced by much of the population.'


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