Comments on: The Usual Suspects http://www.financialtaskforce.org/2009/08/12/the-usual-suspects/ Thu, 09 Feb 2012 05:46:00 -0500 hourly 1 http://wordpress.org/?v=3.3.1 By: Tyler Brebeshttp://www.financialtaskforce.org/2009/08/12/the-usual-suspects/comment-page-1/#comment-3759 Tyler Brebes Fri, 06 Aug 2010 15:10:59 +0000 http://www.financialtaskforce.org/?p=3742#comment-3759 This blog is great. I have learned lots of things from here. Thanks This blog is great. I have learned lots of things from here. Thanks

]]> By: Ann Hollingsheadhttp://www.financialtaskforce.org/2009/08/12/the-usual-suspects/comment-page-1/#comment-71 Ann Hollingshead Thu, 20 Aug 2009 19:40:11 +0000 http://www.financialtaskforce.org/?p=3742#comment-71 The way to prevent them from shifting money overseas in the first place is to increase transparency in international banking and to implement a global system of automatic tax information exchange, which means that governments of tax havens and developed countries will share tax information about foreigners with deposits in their banks on a yearly basis.This would mean first that the IRS could quickly and effectively go after individuals evading taxes. It would also disuade individuals from sending money away in the future. If these account holders know they can't get away with tax evasion (because the Cayman Islands would share banking information about Americans with the U.S.), then they probably wouldn't send their money away in the first place.You can read more about automatic tax information exchange under "issues" in this website. The way to prevent them from shifting money overseas in the first place is to increase transparency in international banking and to implement a global system of automatic tax information exchange, which means that governments of tax havens and developed countries will share tax information about foreigners with deposits in their banks on a yearly basis.

This would mean first that the IRS could quickly and effectively go after individuals evading taxes. It would also disuade individuals from sending money away in the future. If these account holders know they can’t get away with tax evasion (because the Cayman Islands would share banking information about Americans with the U.S.), then they probably wouldn’t send their money away in the first place.

You can read more about automatic tax information exchange under “issues” in this website.

]]> By: Cam Adamshttp://www.financialtaskforce.org/2009/08/12/the-usual-suspects/comment-page-1/#comment-69 Cam Adams Fri, 14 Aug 2009 22:04:28 +0000 http://www.financialtaskforce.org/?p=3742#comment-69 Amazing how unfair capitalism can be. What a double standard. Amazing how unfair capitalism can be. What a double standard.

]]> By: Janet Pickelhttp://www.financialtaskforce.org/2009/08/12/the-usual-suspects/comment-page-1/#comment-67 Janet Pickel Fri, 14 Aug 2009 02:53:59 +0000 http://www.financialtaskforce.org/?p=3742#comment-67 One upside to melting polar ice caps and rising oceans is that Mother Nature will do what Uncle Sam cannot; she'll eliminate many Caribbean tax havens. Seriously, other than the IRS spending tax dollars taking corporations to court, is there any way to prevent them from shifting money to tax havens in the first place? And having seen the Cayman Islands and George Town, am I right in thinking that the 90 subsidiaries must be scattered up and down Seven Mile Beach? Could we really be buying beach homes for the top 90 executives in Keyser Soze's, er... Citigroup's organization? What a scheme! One upside to melting polar ice caps and rising oceans is that Mother Nature will do what Uncle Sam cannot; she’ll eliminate many Caribbean tax havens. Seriously, other than the IRS spending tax dollars taking corporations to court, is there any way to prevent them from shifting money to tax havens in the first place? And having seen the Cayman Islands and George Town, am I right in thinking that the 90 subsidiaries must be scattered up and down Seven Mile Beach? Could we really be buying beach homes for the top 90 executives in Keyser Soze’s, er… Citigroup’s organization? What a scheme!

]]> By: Dev Karhttp://www.financialtaskforce.org/2009/08/12/the-usual-suspects/comment-page-1/#comment-65 Dev Kar Thu, 13 Aug 2009 14:09:35 +0000 http://www.financialtaskforce.org/?p=3742#comment-65 This is a well written and informative article. Trade mispricing and transfer pricing are completely different animals; perhaps your next blog can focus more on some of the differences between them. The issues are complex and it will be a challenge to describe the technicalities in layman's language.Dev Kar Lead Economist Global Financial Integrity This is a well written and informative article. Trade mispricing and transfer pricing are completely different animals; perhaps your next blog can focus more on some of the differences between them. The issues are complex and it will be a challenge to describe the technicalities in layman’s language.

Dev Kar
Lead Economist
Global Financial Integrity

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