Tag: Illicit Finance

 

#Luxleaks: The Reality of Tax ‘Competition’

Aside from lurid revelations about individual companies and the big four accounting firms, the leaks of multinationals’ tax deals with Luxembourg confirm­—and expose to a wider audience­—the true nature of the tax ‘competition’ that prevents the emergence of effective international rules.

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.

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