Tax Justice Network: And the losers are . . . The results of the 2009 Financial Secrecy Index Finally, the time has come to reveal the names of the secrecy jurisdictions that we have ranked according to both their lack of transparency and their scale of cross-border financial activity. For the first time ever, and based on far stronger criteria than those used by the OECD, we can now announce the world’s leading secrecy jurisdictions. Nothing like this has ever been done before. Our new index assesses each jurisdiction on an opacity rating – how secretive the jurisdiction is – combined with a weighting according to size. And here we go . . .Counting down from number 5, we have, at number 5, the City of London in the United Kingdom, the world's largest financial centre, and the state within a state that sits like a spider at the centre of a web that includes exactly one half of all 60 secrecy jurisdictions ranked on the Index. Few will be surprised to see Switzerland coming in at third position. The also rans . . . #12 Austria
Offshore Incorporation, Offshore Incorporating Solutions Tax havens are not fair and only benefit global elites By Daniel Tsai Tues., Nov. 14, 2017 When it costs as much as $1,200 an hour to hire a top tax lawyer in Canada for offshore tax planning, tax havens have long been a tool of wealthy elites and corporations and not normal tax planning for ordinary citizens who clearly can’t afford such fees. These global elites take advantage of tax havens that, as sovereign countries, can do whatever they want with their taxation laws, including charging little or no taxes, and allowing favourable banking secrecy laws and solicitor client privilege, to hide wealth and income. Tax havens, given their small size and distant and exotic locales, have little to no local economy of their own, except to handsomely profit off the legal and financial service industries that set up tax avoidance structures. These jurisdictions have no incentive to ensure that extremely wealthy Canadians, or other global elites, pay their fair share of domestic taxes.
Political change and democracy in China - La vie des idées Wang Shaoguang is a chair professor and chairperson in the Department of Government and Public Administration, a Changjiang [1] Professor in the School of Public Policy and Management at Tsinghua University in Beijing, a non-official member of the Commission on Strategic Development of the Hong Kong Special Administrative Region, and the chief editor of The China Review, an interdisciplinary journal on greater China. He belongs to the first promotion of students to enter University after the Cultural Revolution in 1977. He first studied in the Law department at Beijing University. He later obtained his PhD in Political Science at Cornell University (Ithaca, New York) in 1990. He then taught politics at Yale University (New Haven, Connecticut) from 1990 to 2000 before settling in Hong Kong. Wang belongs to an informal intellectual grouping labelled the New Left (xin zuopai). Wang is also currently working on the publication of a series of books on “State democratic re-building”. Text Video
Delaware - The Onshore Offshore Offshore tax havens bring to mind tropical islands or Alpine towns. But the preferred location for organized crime figures and corrupt politicians worldwide is the US state of Delaware. Last month, prosecutors for the Romanian Unit to Fight Organized Crime and Terrorism arrested an offshore registry agent named Laszlo Kiss for masterminding an embezzlement and laundering operation for executives of a Romanian oil services company. Kiss is the author of a book promoting his business – and outlining just how to take advantage of the tiny state of Delaware to avoid taxes and launder money. Delaware has long been criticized for an incorporation process that leaves it vulnerable to criminal activity. Delaware is becoming the choice of drug dealers, organized crime and corrupt politicians to evade taxes and launder money, an investigation of the Organized Crime and Corruption Reporting Project (OCCRP) found. The Tax Justice Network listed the tiny state as their No. 1offender in their 2009
Category:Offshore finance From Wikipedia, the free encyclopedia Jump to navigationJump to search The offshore finance industry refers to the use of structures in offshore financial centres in connection with financing transactions. Subcategories This category has the following 6 subcategories, out of 6 total. Pages in category "Offshore finance" The following 69 pages are in this category, out of 69 total. Mesure non conventionnelles de politique monétaire Why offshore? A lesson from Cameron | The Offshore Funds Blog As we saw today in the House of Commons, David Cameron is quite capable of defending himself over his ownership of shares in an investment fund before he became Prime Minister and so this blog is certainly not intending to act as cheerleader or critic of the points he made. But his circumstances create a valuable “teaching moment” for this blog and for those that question why investment funds are traditionally set up offshore in the first place. Blairemore Holdings Inc, the entity in which he held shares from 1997 through to 2010, is an investment fund. Originally incorporated in Panama, it was operated out of the Bahamas and moved to Ireland in 2010. It invests in global equities and has a minimum subscription amount of US$100,000. Therefore, investing in this type of fund structure doesn’t even amount to lawful tax avoidance, let alone illegal tax evasion. Clearly, the case for offshore funds is nuanced, complex and not well suited to tabloid headlines or 140 character twitter feeds.
Supply chains and financial shocks | vox - Research-based policy How do firm linkages transmit shocks? This column discusses the real and financial transmission mechanisms in the supply chain and financial system that can create troublesome cascades. It applies its logic to the Asia Pacific production chain. The most recent phase of globalisation was characterised by the geographical fragmentation of the production processes within networks of firms. The disruptive potential of a failure in the international supply chain became larger with time; trade in manufactures represented a quarter of the world industrial output in 2000, this proportion doubled after only five years. The role of supply chains in amplifying the impact of the business cycle on trade is not only caused by a mechanical "multiplier effect", when firms adapt production plans to the anticipated demand. The second building block of the model is the creation and destruction of endogenous money through the monetary circuit. Table 1.
«Delaware» Crackdown: All Bark and No Bite? The U.S. has used judicial might to successfully pursue offshore tax cheats all over the world. A little-noticed new rule introduced by Barack Obama's administration gets tough on U.S. states such as Delaware and Nevada, which are notorious for murky shelters often used for illicit purposes. But there is a catch. U.S. officials have spent years trying to catch what the Internal Revenue Service (IRS) estimates to be $458 billion in tax income that is lost every year from people hiding their money in offshore accounts. Switzerland, formerly home to iron-clad banking secrecy laws which protect clients, has long been a willing enabler to tax cheats, providing offshore accounts and until recently refusing to cooperate with foreign partners on rooting out untaxed funds. U.S. That all changed after massive U.S. Hiding in Plain Sight That was all meant to change in May, when U.S. Obama and Lew Team Up Terrorism Financing, Drug War Delaware Smokescreens UBS Pushing for Tougher Rules
De la bulle à la dépression : l'analyse de Vernon Smith, Prix No Ces caractéristiques essentielles des marchés du logement – les opérations sur le momentum, la liquidité, le compartimentage de la cote, et les achats à fort endettement – se combinent pour offrir une description assez complète et assez simple du dégonflement de la bulle du logement, et comment celui-ci a saisi le système financier et l'ensemble de l’économie. Rien qu’au cours des 40 dernières années, il s’est produit deux autres bulles immobilières, avec des maximums en 1979 et 1989, mais la plus grande de l'histoire américaine a commencé en 1997, probablement déclenchée par la hausse du revenu des ménages qui a débuté en 1992, en plus de l'élimination en 1997 de l’impôt sur les plus-values sur le logement personnel à concurrence de 500,000 dollars. La hausse des valeurs sur un marché d’actifs attire l'attention des investisseurs ; les premières phases de la bulle immobilière ont présenté cette caractéristique amplificatrice habituelle. C’est en 2006 que la baisse des prix a commencé. M.
Steven Gjerstad and Vernon Smith Explain Why the Housing Crash R