Financial Transparency Coalition

Marina Hyde wrote a great article for The Guardian on Friday. As we’ve seen in the media, tax avoidance schemes and scandals are popping up everywhere. Jimmy Carr’s explosive case exemplifies this upward trend of tax avoidance. Hyde brings to light one particular way (of numerous ways) in which Brits are getting rich from skipping out on their tax bill: they make shoddy “Britflicks.”

Friday's Top News Stories from Global Financial Integrity.

This is the current message that the EU’s current anti-money laundering rules send to those in a position to launder the proceeds of tax evasion. It is a crime to launder the proceeds of tax evasion if the tax evader you help, gets caught and goes to prison for more than a year, 11months and its fine. For those considering whether or not tax evasion is a serious crime, it is worth pointing out that a Christian Aid study found that even with a very conservative estimate the money lost by developing countries to tax evasion by multinational companies...

Most attention at this week’s G20 summit focused on the euro crisis and the perilous state of the global economy. But the G20’s final communiqué and background papers indicate that financial transparency is integral to its high-level agenda. The communiqué from Mexico highlighted 13 jurisdictions that have failed to meet the required standards of tax information exchange.