Ideas to Action:

Independent research for global prosperity

Tag: Illicit Finance

 

Joining the Club: The United States Signs Up for Reciprocal Tax Cooperation

In a breakthrough which escaped almost everybody’s attention, a group of countries have agreed to share information with each other about their residents’ tax and financial information. The exchange will be automatic, electronic and multilateral, and includes countries which are responsible for more than 90% of global financial services exports. Agreement from the US is a major step, or will be if it is ratified and implemented; and the remaining step is to ensure developing countries are fully included.

A New CGD Study Group—Beyond the Fence—for a Better Development Relationship at the US-Mexico Border

CGD studies the ways that the richest countries affect the rest of the world, far beyond foreign aid. And the US massively shapes economic development in its neighbors to the south. The 2,000 mile border between the United States and Mexico is an economic cliff, the largest GDP per capita differential found at any land border on earth. Across this fault line, the two nations continue a deep and centuries-old exchange of goods, services, investment, labor, culture, and ideas.

From OECD Financial Secrecy to African Child Mortality

This is a joint post with Bernadette O’Hare (St Andrews University) and Innocent Makuta (University of Malawi).

As new research reveals the stark scale of unnecessary child mortality in sub-Saharan Africa linked to illicit financial flows, the OECD has today launched a damning report on the financial secrecy and related failings of its own member states. Global policy commitments are required to turn the rhetoric against illicit financial flows and tax abuse into reality.

The G-8 Declaration on Tax and Transparency

This is a joint post with Owen Barder. 

International tax has continued to rise up the political agenda, and the crucial UK-hosted G-8 meeting is now approaching.  We’ve updated our draft declaration that we would like to see from that summit, to reflect discussions that have taken place since then, and many valuable comments from a wide range of contributors.

Illicit Financial Flows and the Three Ts of the G-8 Agenda – Alex Cobham

The day before we recorded this Wonkcast news broke of an agreement between the United Kingdom, France, Germany, Italy, and Spain to pilot “multilateral automatic tax information exchange.” My guest, research fellow Alex Cobham, explains why this is so important, why financial secrecy and international tax law seem suddenly to be at the top of the global economic policy agenda—and why this could be especially good news for developing countries.

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