Friday, June 03, 2011

Links June 3

Copper in Zambia: Charity for multinationals Pambazuka news
Jun 2 - Khadija Sharife presents the story of tax dodging by Glencore/Mopani and other multinationals, underscoring how tax havens play a considerable role in Africa, and observes, "after this considerable charity has been provided to the world's richest companies, the question remains: who will help the Zambians?"

Madhouse economics with lunatics in charge - Where has all the wealth of this country actually gone? Tribune Magazine

Jun 3 - Prem Sikka writes on how Britain’s economic landscape is blighted by economic misery and social exclusion, and the impact and implications of tax policy.

French prosecutor opens investigation into UBS Reuters

Jun 1 - The Paris prosecutor opened a preliminary investigation into the commercial practices of Swiss bank UBS at the end of February ... The investigation was launched after bank regulator the ACP received an anonymous letter describing the methods UBS used to help customers avoid taxes.

HM Revenue and Customs (HMRC) Consults On Tax Avoidance Schemes

Jun 2 -
The UK's crack down on tax avoidance continues, to include a new consultation launched to tackle high risk tax avoidance schemes. The government will be handed the power to list, in regulations, marketed tax avoidance schemes. Those who continue to use them will then be required to disclose this to HMRC, and be subject to an additional charge when the tax underpaid is eventually handed over.

The 'almost Dalí' trade Guardian

Jun 2 - "The market for sculptures by Spain's most famous surrealist is booming. But buyers should beware – their link to the artist is often unclear." A Guardian investigation has revealed "A variety of offshore entities promote the sculptures ... they include IAR Art Resources, a Cyprus-registered corporation; a foundation based in Liechtenstein; and a Swiss foundry."


Blogger Physiocrat said...

Yesterday there was a visiting priest from the Holy Ghost Fathers making an appeal for funds for his parish in Zambia. He was saying how poor the people were.

Strange because Zambia produces nearly 20% of the world's copper. The country also has plenty of coal. If the wealth was nicely spread around most people should be comfortably off. Who is being allowed to cream it off? Why are they being allowed to get away with it?

3:14 am  

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