The Guardian — West African state’s emergence as oil producer and offshore centre may fuel crime, says thinktank
A federal grand jury has charged a Virginia Beach, Va., resident with conspiracy to pay bribes to former Panamanian government officials to secure maritime contracts.
HM Revenue & Customs (HMRC) has given extra time for people to confess to dodging tax through offshore accounts.
PARIS: India’s efforts to track black money stashed abroad have borne little fruit but a top official of the Organization for Economic
Co-operation and Development (OECD), a 30-member grouping of mainly developed economies, said there is no reason why India should not be treated on par with the United States or France by Switzerland on negotiations around the double tax avoidance agreements (DTAA).
WASHINGTON – The former general manager of a Sugar Land, Texas-based business was arrested on Nov. 18, 2009, for his alleged role in a conspiracy to bribe Mexican government officials to secure contracts with the Comisión Federal de Electridad (CFE), a Mexican state-owned utility company, announced Lanny A. Breuer, Assistant Attorney General of the Criminal Division; Richard C. Powers, Special Agent-in-Charge of the FBI’s Houston Field Office; and Rodney E. Clarke, Special Agent-in-Charge of the Internal Revenue Service – Criminal Investigation’s (IRS-CI) Houston Field Office. In addition, a Mexican citizen has pleaded guilty for his role in the bribery scheme.
Australia and other developed nations are tired of seeing their tax dollars heading overseas and out of reach, writes Ruth Williams and Ian McIlwraith.
Action by a Swiss judge to order the confiscation of bank accounts held in countries outside Switzerland set a legal precedent that will help in the international fight against corruption, legal experts said.
On May 4, the Obama administration announced a plan to crack down on offshore tax havens, which it said are costing the United States tens of billions of dollars each year. The President’s proposals were primarily aimed at finding ways to increase revenue from wealthy companies and investors who use loopholes in the law and offshore subsidiaries to reduce their US taxes. But the administration is largely missing a far more devastating problem related to offshore finance: money gained from criminal and other illicit sources. With the use of tax havens and other elements of an increasingly complex “shadow” financial network, vast sums of illegal money are being shifted throughout the global economy virtually undetected.
With financial sector losses being counted in the trillions, it is easy to lose sight of the mere hundreds of billions slushing down the drain of corruption every year. So negotiators meeting in Doha to discuss the six-year-old United Nations Convention against Corruption must make sure the momentum gained by the anti-corruption fight over the past two decades does not become a casualty of the crisis.
The taxman has taken to social networking for the first time to warn people to come clean about offshore bank accounts.
Washington has spent much of this year showing how tough it is on tax cheats. The Justice Department triumphantly declared in August that it had reached a settlement with Swiss banking giant UBS for it to turn over the names of approximately 4,450 American account holders suspected by the IRS of evading taxes. This week, the IRS revealed the formation of a special task force to go after wealthy tax dodgers, and members of Congress introduced a bill to force foreign firms doing business in the U.S. to disclose all its U.S. clients with accounts overseas.
LONDON — The U.K.’s myriad overseas territories and crown dependencies must improve standards on financial regulation and tax information-sharing and should broaden their tax base or face possible consequences, a U.K. treasury commissioned report said Thursday.
The future of Britain’s tax havens is in question after a Government report raised doubts over Britain’s willingness to act as a lender of last resort in future unless they raise taxes and impose new regulations on their businesses.
Britain’s tax havens will be read the last rites tomorrow when a Treasury commissioned report will tell them to raise new taxes if they are to survive the economic crisis.
MIAMI — A wealthy accountant who provided extensive help in the tax evasion probe of Swiss bank UBS AG was sentenced to a year of house arrest Wednesday after admitting he concealed about $6 million in assets from the IRS.
Developing countries are currently losing US$1 trillion dollars annually - 10 times the amount they ...
Washington lobbyists and lawyers helped launder millions of dollars for allegedly corrupt African politicians and ...
Standing at the pump, watching the numbers tick away, do you ever wonder where the ...
Huguette Labelle, Chair of Transparency International, presents the 2009 Corruption Perceptions Index (CPI), which ...
Liberal Party turns on banking secrecy World Radio Switzerland, March 9, 2010...
March 9, 2010
Foreign Aid and Salvadoran Corruption The Wall Street Journal, March 7, 2010...
March 8, 2010
The Task Force on Financial Integrity & Economic Development
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