Friday, August 05, 2011

Links Aug 5

Channel Islands' VAT abuse can be ended by UK whenever it likes EU says Tax Research UK
Aug 4 - Richard Murphy on The Telegraph having reported that ... "Up until now, the UK government was concerned about facing possible legal action if it attempted to stop the likes of Amazon, HMV and from exploiting a legal tax loophole that enabled them to ship goods to the Channels Islands and then back to UK customers minus the cost of VAT. The EU has now given assurance to the treasury that it is perfectly within its rights to abolish the “abusive and restrictive” trade." See also our earlier blog Amazon, tax bully.

Taxing Financial Transactions: An Assessment of Administrative Feasibility IMF
Aug 1 -
This paper considers how a tax on financial transactions could be applied to three broad and partially overlapping categories of financial instruments: (1) exchange-traded instruments; (2) over-the-counter instruments; and, (3) foreign exchange instruments.

Firm gives $1 million to pro-Romney group, then dissolves msnbc
Aug 5 - A mystery company that pumped $1 million into a political committee backing Mitt Romney has been dissolved just months after it was formed, leaving few clues as to who was behind one of the biggest contributions yet of the 2012 presidential campaign. The company was formed by a Boston lawyer who specializes in estate tax planning for “high net worth individuals”... The corporate records provide no information about the owner of the firm, its address or its type of business. Another good argument for the Incorporation Transparency bill. Hat tip Rebecca Wilkins.

President Obama Breaks His Promise on Taxes Again Citizens for Tax Justice
Aug 2 - The so-called “Budget Control Act” that President Obama signed into law to increase the federal debt ceiling and reduce the federal budget deficit marks the second time the Obama administration has capitulated on tax policy to the most extreme elements in Congress, those who are least in touch with the American people and most willing to risk economic disaster to get their way.

Ireland was Germany's off-shore tart Golem XIV
Jan 24 - "The best way to think of Ireland is as German's off-shore tax haven banking centre with one significant feature - it was within the Euro zone. Every country has one. The UK has many. Germany needed one and Ireland was happy to oblige. Thus it suited Germany as much as it did Ireland. It was a partnership."

And see:
Who bankrupted Ireland? Golem XIV
Nov 18, 2010 - "It is NOT a question of Irish or German. It is question of wealthy bankers from all countries not just Germany ... DO NOT allow the bankers to set us against each other as a cover for their crime and guilt."

Bank Tax Proposed In The Netherlands

Aug 4 - The government of the Netherlands has released a consultation document on a proposed tax on the country's banking industry to part-fund a deposit guarantee scheme.


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