Thursday, January 19, 2012

Links Jan 19

Outflows, Not Aid, Must Be Curtailed to Fight Poverty Huffington Post
Jan 11 - Raymond Baker comments, further to the new study from Global Financial Integrity.

Italy fights tax evasion Business Report
Jan 19 - "Italy's new prime minister has put his country on a strict austerity regime of spending cuts, tax hikes and tighter pensions. But Mario Monti still has one more card up his sleeve - the fight against tax evasion, another tool to cut down the debt mountain of the eurozone's third-largest economy."

Wegelin Bankers Indicted by U.S. in Tax Crackdown, Bank Says Bloomberg BusinessWeek
Jan 19 - " Switzerland’s Wegelin & Co. said three bankers were charged with conspiring to help U.S. clients hide more than $1.2 billion from American tax authorities ... The men told clients their undeclared accounts would stay hidden from the IRS because the bank “had a long tradition of bank secrecy, and, unlike UBS, did not have offices outside Switzerland.”

Swiss banks back Romney and Obama swissinfo
Jan 12 - "UBS and Credit Suisse are, as in the past, playing an important role in the financing of United States presidential campaigns, research has revealed."

USA: A corporate tax code for a different century Reuters
Jan 13 - David Cay Johnston observes: "Big business is lobbying for a major cut in the corporate income tax rate, and both President Barack Obama and key congressional leaders are on their side. But the evidence that a rate cut will boost the economy is weak. What’s needed is comprehensive reform that includes a simpler, fairer and more transparent corporate tax code..."

Nature of international business sector encourages tax accusations The Barbados Advocate
Jan 17 - "The international business sector has been described as a zero-sum game, where the gains in one jurisdictions can result in losses for another. According to Minister of Tourism, Richard Sealy, this outlook of the sector has caused many to make claims and accusations on the taxation structure of Barbados as going against international norms."


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