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#Taxhavens

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Public
Geriatric Gardener

London is the epicentre of global financial corruption, so guess what?

“Labour shamefully blocks a UN global crackdown on tax havens”

by Ed Sykes in The Canary @thecanaryuk

@UKLabour

“The British public sorely needs to wake up to the destruction corrupt governments like Labour’s have brought both at home & abroad with their extreme servility to corporate interests”

thecanary.co/global/world-anal


Canary · Labour shamefully blocks a UN global crackdown on tax havensKeir Starmer has proved yet again that his compromised Labour government will do nothing to challenge that corrupt, destructive order
Public
BenjaminKlein

Warning this is maddening, especially given that the top 1% are responsible for most of the #climatechange. They have the money to pay for it too, estimated 700 billion left untaxed every year "Brooke Harrington, author of Offshore, on how and where the mega-rich stash their cash"

leftbusinessobserver.com/Radio

www.leftbusinessobserver.comRadio archivesArchive of Doug Henwood's radio shows.
#greed#offshoreWealth#taxhavens
Public
Richard Ashwell

Labour given £4m from tax haven-based hedge fund with shares in oil and arms

Quadrature’s donation is noteworthy not just for being Labour’s largest-ever, but for its timing ahead of election

The #Labour Party’s largest-ever donation came from a Cayman Islands-registered hedge fund with shares worth hundreds of millions of pounds in #FossilFuels, private health firms, #arms manufacturers and asset managers.

opendemocracy.net/en/labour-gi

#TaxHavens#Sleaze#Corruption
Continued thread
Public
Simon Brooke

Secondly, any form of supplying public infrastructure through "public private partnerships" or equivalent scams – introduced by #Conservatives under John Major, popularised by #Labour under Tony Blair and Gordon Brown, and slavishly followed by the #SNP in years since – is equally a deliberate policy choice to transfer wealth from citizens to investors – and usually an effective choice to transfer wealth from your own economy to #TaxHavens

#WealthConcentration
Replied in thread
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Jocelyn

@danahilliot @icij

A priori plutôt #OCDE vs #ResteDuMonde

"For decades, the #OECD has dominated international #tax policy. But in recent years criticism over the outsized power wielded by wealthy countries in its closed-door decision-making has grown, including at the top levels of the U.N."

“ #TaxHavens and corporate #lobbyists have had too much influence on global #taxPolicy at the OECD for too long,”

Le Costa Rica, membre OCDE, par ex s'était abstenu en 2023.

Public
George Baily

#TaxHavens:
Margaret Hodge, former Labour MP and a prominent critic of illicit finance, criticized the U.K. for its lack of action. The BVI “is supporting evil across the world. It’s a security issue, it’s not just a financial issue. If we’re supporting kleptocrats, facilitating drug money, we’re supporting instability around the world,” she said.
politico.eu/article/virgin-isl

POLITICO · A paradise for corruption: Britain tries to clean up its dirtiest secretBy Eleanor Myers
Continued thread
Public
Anja Reul 📯

4/ #Pharmariesen haben > 1.300 #Tochtergesellschaften in #Niedrigsteuergebieten.
#Patient*innen müssen wg. hoher #Arzneimittelpreise gefährl. lang warten
#DeadlyPrices

#Pharmafirms stash profits in Europe's #taxhavens as patients struggle with #drugprices
investigate-europe.eu/posts/de

Investigate Europe logo
Investigate EuropePharma firms stash profits in Europe's tax havens as patients struggle with drug pricesInvestigate Europe finds 15 of the world’s biggest drugmakers operate more than 1,300 subsidiaries in tax havens, as they amassed over €580 billion in global profits over the past five years. Meanwhile, patients face life-threatening delays for medicines due to high drug prices.
Public
The Japan Times

Twenty-seven people are set to go on trial on Monday for money laundering in connection with the "Panama Papers" tax evasion scandal, which revealed how many of the world's wealthy stashed assets in offshore companies. japantimes.co.jp/news/2024/04/ #worldnews #crimelegal #panamapapers #panama #taxhavens #taxes #businessethics

The Japan Times · 'Panama Papers' trial to begin eight years after tax scandalBy The Japan Times
Public
Emeritus Prof Christopher May

The EU Tax Observatory on profit shifting by US MNCs:

Almost no revenue was 'booked' in tax havens in the late 1970s, but over half of their profits are booked in #taxhavens in recent years.

We can imagine that UK and European corporations are acting in similar ways.

So given by their very nature tax havens are not the location of actual #business operations, this is money being stolen from #taxpayers.

Global #tax reform is urgently needed to halt this theft!

h/t Rana Foroohar (FT)

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