How tax havens helped to create a crisis
posted by fincrisis | Fri, 08/05/2009 - 10:28Banks employ large teams of highly paid people to devise transactions mainly for the purpose of avoiding tax. These activities seem to be far more profitable than the humdrum business of managing payments and channelling savings towards investment. Why?
Tax Havens and the Financial Crisis
posted by fincrisis | Thu, 07/05/2009 - 11:02When an entire global financial system collapses, it is reasonable to expect some bickering over the ultimate fixing of things. Rumors of dissention and talk of stimulus-paved roads to hell made everyone squeamish going into the April summit of the G20 group of large and industrialized nations in London. French President Nicolas Sarkozy even threatened to walk out on the whole thing if he didn’t get his way.
UK threat to offshore centres: UK to compete with low-tax jurisdictions
posted by pchowla | Mon, 27/04/2009 - 12:35The dominance of “offshore” fund centres such as Luxembourg and Dublin could be under threat from the UK following a series of tax changes in last week’s UK Budget.
OECD removes tax havens from list
posted by fincrisis | Wed, 08/04/2009 - 14:30The Organisation for Economic Co-operation and Development (OECD) has removed all four countries from its blacklist of tax havens. The blacklist published last week included Costa Rica, Malaysia, the Philippines and Uruguay. OECD chief Angel Gurria said in Paris that all four countries had now agreed to adopt its regulations.