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Feb
20

TaxCast: Edition 26, February 2014

Taxcast by Tax Justice Network

Here’s the newest edition of TaxCast, courtesy of our colleagues at the Tax Justice Network. In the February 2014 Taxcast: Are European tax havens getting ‘illegal state subsidies’? The European Union’s Competition Commissioner thinks so. Are the world’s tax havens really going to become more transparent? We analyse the OECD’s automatic information exchange proposal, warts […]

News
Nov
6

Government must shut down corporate tax havens

Financial Transparency Coalition

The Huffington Post published an interesting blog, titled “Government must shut down corporate tax havens,” from U.S. PIRG’s Jaimie Woo. In her blog she points out that “The $150 billion we lose in tax havens a year would be enough to provide Pell grants to 10 million students for four years of college; it could also guarantee loans for half a million small businesses; or revamp America’s aging transportation infrastructure by building 15 commuter rail lines, 50 light rail transit lines, and more than 800 bus rapid transit lines.” To read the full blog click here.

News
Nov
1

BBC Broadcast – British PM in Transparent Tax Move

Financial Transparency Coalition

Check out this great BBC broadcast covering David Cameron’s groundbreaking commitment to introduce a public register to reveal the true beneficial owner of companies. Global Financial Integrity’s E.J. Fagan was interviewed for this broadcast. You can find his comments starting at the 3.20 mark.

News
Nov
1

Trusts and financial transparency

Dietlind Lerner

In this terrific blog the Economist’s Matthew Valencia looks into the contentious issue of transparency and trusts.

What exactly are trusts, why do they exist (100 points if you knew they were developed in the 12th century for Knights leaving for the Crusades) and should they be part of the international push for public registries of beneficial ownership. What do you think?

News
Oct
31

The Guardian: Register revealing firms’ true owners will be open to public, says Cameron

Financial Transparency Coalition

Financial Transparency Coalition Manager, Porter McConnell was quoted in Patrick Wintor’s article “Register revealing firms’ true owners will be open to public, says Cameron” appearing on the Guardian’s website.

In this article, Porter is quoted as saying “David Cameron has made a brave and far sighted decision with the introduction of this vital transparency measure. That the UK has become the first country to commit to introducing a public register to disclose the beneficial owner of companies is a watershed moment.

“The UK is helping deprive corrupt politicians and criminals of the use of anonymous companies to hide their real identities. This will go a long way in curbing corruption, money laundering, drug trafficking, tax evasion and financial crime responsible for the continued loss of much needed wealth from the world’s poorest countries.”

News
Oct
31

ONE Launches Phantom Firm Campaign

Financial Transparency Coalition

ONE has launched a fake website (www.Stash-the-Cash.com) and Twitter account (@stash_the_cash) to raise awareness of how easy it is create an opaque company.

News
Oct
23

Taxcast Edition 22: October 2013

Taxcast by Tax Justice Network

In the October 2013 Taxcast: Swiss villagers send some of profit shifting mining giant GlencoreXstrata’s money to humanitarian projects, tax havens do some window dressing and how many sets of accounts does a multinational corporation REALLY need to file their tax returns? The David and Goliath story of tax collection – even for the United States.

News
Sep
13

FACT Coalition (US) Seeks a Policy Analyst

EJ Fagan

The Financial Accountability and Corporate Transparency (FACT) Coalition is looking to hire a Policy Analyst. FTC, Global Financial Integrity, and Global Witness all work very closely with the FACT Coalition on legislation and policy to fulfill FTC’s five recommendations.

News
Aug
21

Offshore Phantom Firms A “Hulking Presence” in Divorce Cases

EJ Fagan

Imagine that you are trying to sort out to recover your assets during divorce proceedings, and your significant other forces you to navigate this web of offshore shell companies and trusts, often with intermediaries listed as the beneficial owner. Read more at FT Alphaville.

News
Jul
22

G20 Finance Ministers and Central Bank Governors Communiqué Released

EJ Fagan PDF

The G20 Finance Ministers and Central Bank Governors met in Moscow this weekend, following the release of the OECD’s report on Base Erosion and Profit Shifting (BEPS). That report, along with pieces of FTC’s agenda money laundering, automatic information exchange and beneficial ownership made it into the communiqué released by the G20 representatives following their summit.

News
Jun
13

G8 Leaders Tackle Tax Havens and Global Inequality

John Bugnacki

Since the 1960s, President John F. Kennedy, the OECD, and European leaders of the G8 have all committed to tackling tax havens, with a mixed record of successful reform. However, leading up to this week’s meeting of the G8, David Cameron is calling for the organization’s leaders to commit to addressing the global shadow financial system that has allowed illicit financial flows to stream into tax havens.

News
May
24

Nonprofits, Businesses Call For End To Corporate Secrecy

A group of 41 businesses and nonprofits sent a letter to every member of Congress pressing them to pass legislation that would reveal the beneficial owners of shell companies.

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