Tipping point Frontline, April 19, 2011 The Moving Finger Writes The Organiser, April 19, 2011 Online Poker Player Accounts Frozen as U.S. Indicts Operators Bloomberg, April 19, 2011 Russian parliament approves big jump in fines for bribes Ria Novosti, April 19, 2011 Moscow Police Report Huge Drop in Tax Cases This Year The Moscow Times, [...]
Deficit Spurs New Look at Offshore Tax Havens Wall Street Journal, April 12, 2011 HSBC case alerts Asia banks for U.S tax probes Reuters, April 12, 2011 The truth about GE’s tax bill Washington Post, April 9, 2011 War on tax evasion Korea Times, April 12, 2011 The Tax Man Cometh – Just Not For [...]
Angola denies billions diverted by graft Reuters, April 11, 2011 Outlandish charges against Hasan Ali make no sense DNA, April 11, 2011 Government drops amnesty plan Rediff, April 11, 2011 India will ratify UN convention on graft: Pranab Mukherjee IANS, April 11, 2011 I-T raids Lilavati to unearth black money links CNN-IBN, April 11, 2011 [...]
Time to black-list the tax haven whitewash Financial Times, April 4, 2011 Mexico sets rewards for reporting money laundering Associated Press, April 4, 2011 The Real GE Scandal Newsweek, April 3, 2011 African Countries Seek to Harmonize Tax Policy to Boost Revenue Bloomberg, April 4, 2011 Swiss grapple with tax benefits for rich MarketWatch, April [...]
Tax Havens: Bigger Than You Think, Closer to Home Than You Imagine The Nation (Blog), April 1, 2011 How a big US bank laundered billions from Mexico’s murderous drug gangs The Observer, April 3, 2011 Five Ways GE Plays The Tax Game ProPublica, April 4, 2011 Deutsche Bank fights tax ruling on £92m bonus pool [...]
As the United States budget deficit currently looms large in the national conversation, Lesley Stahl of CBS News’ 60 Minutes explored American companies’ use of tax havens this past Sunday (Watch the full segment in the video below). Every year, U.S. companies avoid paying $60 billion in tax by moving the “headquarters” of their corporations abroad, at least on paper. As Stahl notes, this is not a new issue as American companies also moved their assets abroad in the 80`s and 90`s to places such as the Cayman Islands and Bermuda. However, after Obama`s promise to crack down on this practice, American companies moved their businesses to safer tax havens, mainly Ireland and Switzerland.
Not surprisingly, Stahl’s trip to Switzerland reveals that these newly situated headquarters are little more than fronts; often they’re nothing more than a mailbox. Yet, as Stahl interviews politicians and businesspeople about the practice, the question emerges: Who is the bad guy?
“Roaring Giant: Africa’s Economic Ascent” (Speech at Columbia University Economic Forum) The Liberian Journal, March 28, 2011 Govt Faces ‘Crisis of Credibility’ Amid Corruption Scandals IPS, March 29, 2011 Afghan officials agree to dissolve Kabul Bank, under pressure from U.S. and IMF Washington Post, March 26, 2011 Egypt clerics protest at graft in religious bodies [...]
Govt to clampdown on MNCs offshoring profits Economic Times, March 28, 2011 Ukraine works overtime to shine its tarnished image abroad Kyiv Post, March 26, 2011 India Survives Its Week of Leaks Huffington Post, March 26, 2011 A look at the world’s new corporate tax havens CBS News (60 Minutes), March 25, 2011 Stop this [...]
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Big and Broke?
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Transparency International-USA Chief Announces Departure After Tensions Boil
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London Tops Financial-Center List
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IBM Agrees to Pay $10 Million to Settle SEC Bribery Claims
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Leaked Government Documents Reveal Weakening of U.K. Bribery Act
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EU parliament probes MEP corruption claims
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Governments should name banks that took corrupt money from Gaddafi, Mubarak and Ben Ali
Global Witness, March 20, 2011
Financials add CHF 88 bn to Swiss eco
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Baer calls for end to US/Swiss bank tax row –paper
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Sanctions’ Impact Felt by Tripoli Regime
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King Tut Gilt Statues Are Among Ancient Objects Looted From Cairo Museum
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Corruption threatens to affect India’s growth, survey says
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The great drain robbery
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Parliament approves Appropriation Bill
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10 reasons we should tax corporations
Guardian, March 15, 2011
Court defers Babar’s tax evasion case
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FBR to launch system to monitor tax evasion
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Companies let off hook for up to £16bn in tax
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Money stashed abroad will be brought back, reiterates Pranab news
Express News Service, March 12, 2011
Lehman Auditor May Bear The Brunt
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Olmert to be charged in Israel property scandal
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The Cheaters and Their Banks
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Lebanon Lifts Banking Secrecy on 23 Cases Involved in Money Laundering
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Wealthy Arabs eye Swiss banks as uprisings spread
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Rs 1L cr unaccounted wealth brought under tax net: FM
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Colombia banks on tax treaty to push business ties with India
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