Links Feb 15
Feb 15 - "The five biggest European economies are negotiating a system to implement the US Foreign Account Tax Compliance Act (Fatca). "
Belgium: Unions and NGO's mark Tax Freedom Day for Companies rtbf (In French)
Feb 14 - Reporting on the day organised by TJN Belgium to bring attention to tax breaks granted to corporate interests.
President Obama’s 2013 Budget Plan Reduces Revenue by Trillions, Makes Permanent 79 Percent of Bush Tax Cuts Citizens for Tax Justice
Feb 14 - Read CTJ's report. "The budget plan does include some good proposals that, together, would raise $1.1 trillion over a decade. Of course, these revenue-raising proposals don’t come close to offsetting the costs of the tax cuts."
Liechtenstein, UK Seal Tax Treaty Tax-News
Feb 9 - On a story linked earlier, and see this TJN blog from a few months ago - nobody should be signing Double Tax Agreements with countries like Liechtenstein. Same advice is applicable for the UK.
India: FinMin seeks legal opinion on re-routing black money Hindustan Times
Feb 14 - Reporting on proposals for a "Voluntary Disclosure of Income Scheme ... to retrieve a chunk of “dirty” money stashed away in tax havens." See TJN blog earlier today on India here.
New Zealand called a haven for illegal Indian cash stuff.co.nz
Feb14 - "New Zealand has been cited by India's top corruption fighter for allowing a large share of India's black money to be sheltered here ... a New Zealand Justice Ministry paper said shell companies registered here were being used to launder around $1.5 billion in the proceeds of international and domestic crime." For more on New Zealand see here.
Why Oil Exporting Countries Need Transparency Huffington Post
Feb 14 - See the slide show compiled by Global Financial Integrity of the top 10 oil exporting countries, listing the cost that corruption and financial opacity has on each country's economy.
Three coherent, powerful blasts from #Occupy Treasure Islands
Feb 15 - Nick Shaxson on "respected financial blogger Felix Salmon saying this about the latest contribution from a part of the #Occupy movement in the United States..."
You might want to Occupy your heart Times-Standard
Feb 15 - "One example: California has 85 billionaires with a total wealth of $287 billion. Only 3.5 percent of that wealth would close a state budget gap of $10 billion. Come on, folks, there are real solutions to these inequalities. We can do this."