I Have A Rash Between My Boobs

Tax Havens: when is the end of little arrangements between friends?

While two crucial meetings on tax havens held this week in preparation for the meeting of Heads of State G20 on 24 and 25 September, Oxfam France - Agir ici recalled that cooperation with tax havens mound again on two main unsolved problems: the willingness to cooperate in all tax havens in a multilateral system, including the South and the existence of mechanisms to easily circumvent any requirement of transparency.

The organization publishes this occasion a new folder, "Tax havens: when is the end of the little arrangements between friends?" , which discusses the limits of the decisions taken in recent months and outlines measures to effectively fight against tax havens.
Read more ...

The file "Tax havens: when is the end of little arrangements between friends?"

Deltaphi Epsilon Initiation

Tax havens: The first measures sifted

In the upcoming G20 summit in September in Pittsburgh, and Elisabeth Guigou Daniel Garrigue come to deliver a report on the fight against tax havens. Only watchwords for members: transparency and sanctions.

Harmonize taxation within the European Union, automate trade information, punish non-cooperative countries ... This is essentially what the report calls the fight against tax havens and offshore centers made Wednesday by Elisabeth Guigou and Daniel Garrigue. Both members and members of the European Affairs Committee of the National Assembly to call not to let down our guard in the fight against these "black holes of the international financial system", says Elisabeth Guigou. Socialist deputy of Seine-Saint-Denis and recalled that in these Eden tax, nearly 10,000 billion transited each year, almost half of global financial transactions. From
How to sound the alarm on the need to act quickly against "delinquents country." The stated goal is the next G20 meeting to be held on 24 and 25 September in Pittsburgh, USA.

lists not strict enough
Heads of State and Governments had voted in London at the G20 last April, for better international supervision, a lifting of bank secrecy and the establishment by the Organisation for Economic Cooperation and Development (OECD) lists white, gray and black listing uncooperative jurisdictions in criminal and tax. But if the initiatives are good, it lacks effective coordination to achieve international cooperation.

The output of such list is too easy according to Elisabeth Guigou, "just as the countries listed verbally committed to apply the conventions to which the kind of list. It's a little easier as a system. It be the "de-list" only after the establishment of a true fiscal transparency. " And the facts seem to prove him right since the four countries "black listed" by the OECD, namely Costa Rica, Uruguay, Philippines and Malaysia have been delisted after pledging to make "effort" for the exchange of tax information.

A lack of tax harmonization
competition in taxation between European states is also particularly referred to in the report Guigou-Garrigue, which calls for tax harmonization in Europe. An "overhaul" of the system would then allow to better regulate and supervise the finance at European and international scale. In Focus, hedge funds, hedge funds above the money market itself protect the vagaries of that market. A European directive, which was considered scandalous by Daniel Garrigue do not submit to disclosure or transparency obligations, allowing them to pass without being subject to any regulation: "It is outrageous to give a passport to tax havens to spread their products on European territory "said the member of the Dordogne emphasizing the need for transparency.

An uncertain lifting of bank secrecy
Switzerland imposes strict rules to access the list of its banking
In theory, the G20 in London ended the era of bank secrecy. In practice, many countries still practice it. He entered reset Swiss law in 1934 which said that its violation is a criminal offense. The parliamentary report that secret pin as "impossible to establish the tax, protect savings and allow justice to intervene." Thus, to obtain information on the banking and financial transactions based in Switzerland, the authorities must formulate a very specific request "with the name of the suspect, the bank and almost the reason for the request. The use of the information is then very limited, "said Elisabeth Guigou. Socialist regrets the lack of centralized information and preaches for automation collection and exchange of tax information and criminal. Public authorities could access it easily and thereby exercise greater oversight.

The absence of meaningful sanctions
The report calls for sanctioning countries that refuse to cooperate or continue to leave little or transit capital not subject to taxation. A measure that would give pause to the most recalcitrant states. But even the MPs' report is unclear on this issue. If talking about sanctions, it does not detail and does not indicate how high and how States could be "punished". Elizabeth Guigou nevertheless clear that, on this issue, "it is for authorities to decide and G20 to list the sanctions. But it is possible to prohibit banks regulated countries to make trade with these countries Offenders ".

France must put its own house
The report finally calls to ensure that France becomes flawless in fiscal transparency. However, all major banks, including the French, have settlements in tax havens and offshore centers, which was alone, according to the bank host 4000 International Monetary Fund (IMF). These settlements represent, in the Commission Bank, 160 subsidiaries and 84 branches across other, Luxembourg, Belgium, Switzerland and Singapore.

question is whether the political will dare ask them to stop transactions and distributions of capital to these centers protected.

Florence Méréo

Source: Lexpansion.com
( http://www.lexpansion.com/economie/actualite-economique/les-mesures-contre-les-paradis-fiscaux-passees-au-crible_190611. html )

No Sew Fleecetie Scarf

The European Investment Bank Will it continue to endorse tax havens?

Friends of the Earth, networks Counter Balance (1) and Eurodad (2) today published a new report, "Flying in the Face of Development : How EIB loans enable tax havens "(3), highlighting the involvement of the European Investment Bank (EIB) in tax havens. This study reveals that the Bank of the European Union is investing billions of euros in associates at offshore centers. NGOs denounce this outrageous situation and call upon European states to be consistent with their declarations against tax havens by requiring that the EIB should end this practice and adhere to its development mandate.


past five years, the EIB has lent 5.66 billion euros to banks French, Dutch and English were most involved in tax havens (4), while 210 million went to African funds using tax havens in their investment strategies. In addition, major infrastructure projects such as the West African Gas Pipeline in Nigeria (5), Tenke Fungurume mine in Democratic Republic of Congo (6) or the Mopani mine in Zambia (7) are related to Bermuda or the Virgin Islands, known tax havens. Anne-Sophie

Simpere Friends of the Earth, said: "Our study shows that many projects financed by the EIB involve tax havens and multinational using offshore centers. Yet the investment policies of the Bank are decided by its Board of Directors, composed of Member States of the EU whose makers enchaînent declarations against tax havens. How can they claim to fight against these practices while at the same time, they overwhelmingly endorse the public with the bank of the European Union? "Desislava Stoyanova, Coordinator of Counter Balance, said:" This situation is unacceptable from a public institution. And in particular the EIB, including gaps in transparency and accountability are well known, whereas they are two crucial aspects in the fight against tax havens. "

The report recalls that the use of tax havens is a hindrance to development, as shown by numerous studies, including the recent Norwegian government report on the subject (8). Anne-Sophie Simpere concludes: "The Norwegian Government has proposed a series of measures to ensure that the Investment Fund does not contribute to tax havens. European states will they stay behind, leaving their bank to continue to fund development projects in dubious financial centers in the opacity? "Friends of the Earth and Counter Balance asking the EIB and the European states not to support projects related to tax havens and ensuring full transparency of the EIB loans to financial intermediaries, to ensure that these flows do not contribute to fuel tax evasion .

Press contact: Caroline Prak 01 48 51 18 96 / 06 86 41 53 43

Notes:
(1) www.counterbalance-eib.org
(2) www.eurodad.org
(3) Report downloadable here (English): http://www.amisdelaterre.org/La-Banque-europeenne-d, 4372.html
(4) It is the Barclays Bank, Royal Bank of Scotland, BNP Paribas, Societe Generale and ING.
(5) The West African Gas Pipeline Consortium Company Limited (WAGPCo) is registered in Bermuda. The EIB has provided EUR 75 million loan to Ghana for the implementation of this project.
(6) Tenke Holdings Ltd. / Lundin Holding, registered in Bermuda, is part owner of the proposed mining of copper and cobalt Tenke Fungurume in the Democratic Republic of Congo for which the EIB has conditionally approved a loan of 100 million in 2007.
(7) Mopani Copper Mines Plc (Mopani Copper Mines), which has received loan of EUR 48 million from the EIB, is majority owned by Carlisa Investments Corporation, located in the BVI.
(8) See Commission on Capital Flight from Developing Countries, Tax Haven and Development, Summary of the Preliminary Study , June 2009, page 4: "Illegal capital flight corresponds to ten times Roughly The Financial Assistance Given to Developing Countries."

License Plate Covers Legality In Alberta

Maylis Labusquiere: "For users of tax havens to justify"

Maylis Labusquiere in charge of advocacy at Oxfam France - Agir ici, participated on 29 last, the symposium "havens and legal hell: justice or chaos" held in the Assembly by the national platform tax havens and Mariama Keita Site Information havens and judicial . Recalling the responsibility of companies in the fiscal hemorrhage strike public budgets in the South and jeopardizes their development, it stresses the need to deal primarily with the use of tax havens that are multinationals.

How Long Will A Pinot Noir Last

Switzerland she really killed her bank secrecy? The Tour de France

Despite statements from world leaders on the end of bank secrecy, the path to transparency is still very long. Expansion examines the case of Switzerland, which has pledged to apply the OECD standards in this area. First obstacle course: legislative procedures in the case of Switzerland until the referendum to require that the Confederation ratified new tax treaties or new treaties for the exchange of tax information. Even if they eventually come into force, there is no guarantee that the Swiss tax authorities accept in all cases of fraud to disclose information in accordance with the criteria of the OECD model for exchange of information on demand. In case of divergence with the requesting State on the conditions for the lifting of bank secrecy, it is likely that the Court will at the Swiss Supreme Court, further delaying the process ...


The Swiss Confederation has signed tax treaties with several countries. But nobody really knows the content of these texts. Enough to keep the blur on the announced death of Swiss banking secrecy. Our explanations.

How Switzerland will ratify the tax To be applicable, these double tax treaties should be subject to all stakeholders of the Confederation, the first of which was the financial sector. Based on their observations, recommendations and others, the Swiss government will present the bilateral agreements in Parliament. What should not happen before late August. The latter will then decide whether to submit the text to a popular referendum. Therefore remains to know where is the Swiss population on the issue of banking secrecy. The government has already announced that only the first initialed agreement would be submitted to a popular referendum, leaving some uncertainty as to what he would do in case of negative response of his fellow citizens. If the agreements are ratified despite this and eventually come into force, the Swiss judge who will be the end of the story or not allowing the lifting of bank secrecy. Another problem, the OECD Convention does not provide for sanctions against states. Only possibility for a state that considers itself cheated, terminate the tax treaty in force.

Banking secrecy is what?
Kind of professional secrecy, "bank secrecy" means the obligation of banks not to give information about their customers to third parties. In Switzerland there since 1939 and gives the country a significant tax attractiveness. In 2008, Swiss banks have handled nearly 4 3000 billion, ranking 3rd in the world.
But for years the controversy swells around this secrecy. With globalization, many countries saw tax evasion grow, and therefore asked the Swiss to gain access to bank accounts and transaction details of their nationals fraudsters.
A query that has always been refused by the Swiss Confederation. But the context has changed. With the scandal of Liechtenstein and the financial crisis, the pressure was around tax havens increased. And on the eve of the G20 on 13 March, Switzerland has undertaken to apply the OECD standards.

What exactly these commitments?
Article 26 of the Model Tax Convention, the OECD provides a "duty to share information that is foreseeably relevant to the correct application of a tax treaty. This is called the system of information on demand, which is opposed to another system, where the exchange of information would be automatic. Clearly, if two countries sign an agreement, they are obliged to provide banking information whenever the other party so requests. But only in this case.

The OECD has classified its member states into 3 lists, white for those who comply with section 26, a gray for those who wish to comply with section 26 and a black for those who refuse any commitment on these issues tax. For the moment Switzerland is, if she wants out of the gray list, signed twelve agreements respecting bilateral Article 26, and this with any member of the organization. What she is quick to do from a few weeks until today it has reached an agreement with nine of them, including France and the United States.

What is the content of these agreements ?
Impossible to know. For as long as the agreements were not signed, but only initialed, as is the case today, their content is not intended to be unveiled. However, opinions differ on the content of these conventions, even though everyone claims to have had the hands ... Thus, the Swiss bankers say that the Swiss tax authorities will be required to disclose only "in cases where the evidence will be given a suspicion of tax fraud, identity of the person and the name of the bank" . It is in any case what was said in L'Expansion. Com Pierre Mirabaud, current president of the Association Swiss bankers. The problem is that, at the same time, Pascal Saint-Amans, head of the division for international cooperation and fiscal competition at the OECD made a contrary interpretation of these conventions ... "The only condition is that demand is not random. It will only provide the identity of a person suspected of fraud, and that's it," he maintains. What would change everything. If a simple name is enough really, so the days of secrecy are indeed numbered. Otherwise, he will be entitled to an unexpected respite.

Finally, the end of bank secrecy is so close?

Julie of the Brush

Source: L'Expansion. Com
( http://www.lexpansion.com/economie/actualite-entreprise/la-suisse-at-elle-vraiment-tue-son-secret-bancaire_189157.html )

Can You Clean Greasy Parts In A Dishwasher

havens

Funny symbolic for the Tour de France 2009! It will stop in all tax havens border of our country ... or almost! Judge for yourself! The start will be Saturday, July 4 in Monaco. On Friday, July 10, a spectacular high mountain stage will lead the riders from Barcelona to Andorra, the second arrival "paradise", where they will depart the next day to run to Saint-Girons. After a week on the classical paths, the tour will head to Switzerland, Sunday, July 19, with arrival in Verbier, where riders take a day off.

The opportunity is too good for the platform " havens and judicial " does not seize it. It brings together several NGOs, including the Earth-CCFD Solidarity, Catholic Relief Services, the National Union of Magistrates, the National Union of unified tax (SNUI), Attac ... Jean Merckaert, CCFD (Catholic Committee against Hunger and for Development ), decided to organize a "cons Tour" with activists of these organizations. The first stage will take place at the border with Monaco cycling enthusiasts dressed up ... palm trees, the day before departure. The next day during the prologue and before the start of the stage, leaflets and banners will be at the rendezvous. Other symbolic happenings are planned in Andorra and Verbier - which will join NGOs like the Swiss Berne Declaration, Alliance ... - and July 23 in Annecy. For Jean

Merckaert, this "turn against" should remind leaders of the G20 countries that are committed in London in early April, pushing tax havens to transparency and that this promise must be acted upon. The reminder is timely because the G8 leaders meet in Italy from July 6 to 8.

"We expect the G8 that drives the point and go further, also explains the CCFD. The G20 has attacked tax havens, we must also fight against the legal and banking havens. We are an association of development and our main concern is the cost that are havens for developing countries. Would have the heads of state will seize this issue. " The Norwegian government has already done, and on 18 June, the commission he appointed to study this subject delivered its report . It confirms the calculations of American academic Raymond Baker. "For him, the loss to developing countries is around 900 to 1,050,000,000,000 dollars. 3% of these are related to corruption, 30 to 33% in organized crime (trafficking in arms, drug counterfeiting ...), but the remaining two thirds are mainly due to tax evasion, "says Jean Merckaert.

Commenting on the initiatives taken by the G20 to demand more transparency on the part of paradise tax, particularly in the framework of the OECD, CCFD hope these countries do not engage only cooperate with a dozen rich countries, but also apply their commitments to transparency in all countries that request them.

The Tour de France does not stop at home, Luxembourg and the Channel Islands, to escape this time the protests of NGOs ...

SF

Source: Le Nouvel Observateur ( http://laviedesaffaires. blogs.nouvelobs.com/archive/2009/06/30/le-tour-de-france-dans-les-paradis-fiscaux.html )

Contacts and program on the site Tax Justice Network

Can't Play .undf File

The Norwegian government accuses havens hinder development in developing countries

After a year of work, the Norwegian government publishes the Commission report official who had been commissioned in June 2008 to examine the links between tax havens and development in the South.

The size of the report is the height of ambition of the Commission: over 200 pages! Composed of officials from the Norwegian government, academics but also professionals from the private sector or justice, as Eva Joly, she has conducted numerous interviews and an extensive investigative work to take stock of the impact of tax havens and international overview of institutions involved on this issue. Beyond the facts and figures compiled in this sum, two things caught our attention.

Among the long list of recommendations, the Commission recommends the obligation to require Norwegian companies to transparency standards to report their activities on a country by country, a principle which we call the application through the International Accounting Standards as part of the campaign Holdup International .

More generally, the Commission had emphasized the role that tax havens in the denaturation of the principle that a business must be taxed in their country of residence, a source of injustice for the South in which the multinationals relocate many of their activities while they repatriate most of their profits to the North.

Worse by registering in tax havens where they have no real activity, thus definitively breaking the multinationals the principle of redistribution of wealth in the territory where they were created.

This report is full of serious thoughts and recommendations for governments wishing to act more effectively to stop the bleeding tax in South and North ...

Maylis Labusquiere (Oxfam France - Agir ici)

Read: In tax havens, 20% of deposits come from developing countries , Le Monde, June 29, 2009

Walmart Motor Oil 2010

In tax havens, 20% of deposits come from developing countries

It is commonly accepted that 10 000 to 12 000 billion (7 130-8 555 billion euros) in annual average pass by the various tax havens around the world.
These illegal flows are not only rich countries. A good part of them comes from developing countries (DCs). How? That is the question. To quantify this, the Norwegian government has commissioned a report by a commission experts chaired by Professor Guttorm Schelderup, economist, and that Eva Joly, a former magistrate, was a part. After several months of work, a report entitled "Tax havens and Development was delivered in mid-June to Erik Solheim, Minister of the Environment and International Development of Norway ( our analysis).

The result is instructive. Norwegian economists estimate that about 20% of deposits in tax havens from developing countries, is "a sum of between 2 200 and 2 400 billion, thirty times what developing countries receive form of aid.

If we are to believe the report, tax evasion in developing countries accounted for the year 2006 a sum of between 641 and 979 billion dollars. By comparison, net capital inflows into these countries reached in 2006, according to the World Bank, 571 billion. "Even the lowest estimates lead to the fact that illegal capital outflows exceed the inflows," the report said. The evasion of the developing countries is also about 10 times the amount of aid provided by rich countries and about 6% to 8.7% of gross domestic product (GDP) of these countries. By comparison, income tax countries the poorest 13% of their GDP.

All these illegal flows do not result in tax havens. But, and this is one of the key points of the report, the offshore centers contribute to the "gangsterization" political systems in the POS. Tax havens "and promote corruption and scams carried out by politicians on development aid, natural resources and public money." Worse, the report adds that the examples are not lacking "deliberate destruction of institutions to prevent illegal exit of capital, lobbying against officers so they neglect their duties without mentioning the assassination of officials. "The report cites the example of the Philippines, Indonesia and Malaysia where local politicians have deliberately torpedoed the role of local agencies for environmental protection in order to allow an intensive exploitation of tropical forests. kickbacks paid to this end have almost inevitably ended up in tax havens.

These criminal practices facilitated by the existence of tax havens with little incentives to poor countries Investing for a better administrative efficiency. "The likelihood of discovering an economic crime is lower in developing countries, "the report said adding that the existence of tax havens is an encouragement to criminal behavior."

The Norwegian report point with particular severity the responsibility of multinationals in the weakening tax POS. The so-called policy of "transfer pricing", namely the various techniques to manipulate the price of intra - or even trade with other companies - in order to transfer profits in zero tax jurisdictions, plays a role factor in the weakening taxes for all countries. Accounting practices of multinational Norwegian and would generate a tax loss of 30% for Norway's budget. Among its recommendations

priority Schelderup Professor calls for improved rules on transfer pricing and changes in tax treaties to which the actual activities of a company determines its tax domicile.

Yves Mamou

Source: Le Monde ( http://www.lemonde.fr/la-crise-financiere/article/2009/06/29/dans-les-paradis-fiscaux-20-des- deposits-from-the-country-by-way-of-developpement_1212997_1101386.html )

Russianbare Brazil Images

Banking Secrets: bankers begin to naked!

Friends of the Earth throw with five other members of the international network NGO BankTrack [1], the website "bank secrecy" ( www.secretsbancaires.fr ), which reveals the controversial investments for large European banks which include three French BNP Paribas, Societe Generale and Credit Agricole. On that occasion, Friends of the Earth have conducted an "operation transparency" in Paris to demand the establishment of accountable and transparent policies for all risk areas and for all banking activities.

order to expose banking secrets and expose the opacity that surrounds them, activists from Friends of the Earth have conducted an "operation transparency" in a parody of a striptease bankers outside the headquarters of BNP Paribas in Paris, while similar operations were place simultaneously in other major European capitals. Laid bare, what secrets hidden under his banker polish? Nothing less than a sad sign showing a controversial ... and a unique address: www.secretsbancaires.fr presents a world map of investments harmful for European banks.

Indeed, "Banking Secrets "Reveals the 13 major investment banks in Europe [2] which, despite the financial crisis continue to fund controversial projects in quite opaque, with serious implications for local populations. "The study conducted within the network BankTrack unveils financial links between the major European banks and companies blacklisted supporting dictators and causing irreparable environmental damage or producing indiscriminate weapons such as cluster munitions. The 13 banks surveyed have thus granted 11.4 billion euros in loans and organized and issued shares and obligations for a total of 10.5 billion euros. In addition, they hold or manage for third parties 17.7 billion euros in the same companies, a total commitment of over 40 billion euros over the last 4 years "denounces Yann Louvel, Campaigner Finance Private Friends of the Earth.

"This type of controversial investments can no longer be tolerated. Banks must take into consideration relevant international environmental and social issues in all their funding decisions and investment. We require responsible practices: no money for dictators, environmental destruction, the controversial weapons and violation of human rights, "demand Sebastien Godinot, campaigns coordinator for Friends of the Earth. "We blame the three French banks including BNP Paribas, Societe Generale and Credit Agricole, which is found involved in the most controversial projects! .

Yann Louvel continues: "The bankers have an incentive to act as financial and legal risks are rising in risk projects. In addition, banks are a big lever and can contribute to the necessary changes. They must why adopt stringent and transparent sectoral policies, applying to all their activities for all sectors at risk ".

If www.secretsbancaires.fr with this project, profiles of banks and financial links between enterprises and banks, it also invites the public to send an electronic card with bank CEOs to ask targeted to change their practices. The public is also invited to choose an ethical bank, such as Nef in France, including Friends of the Earth have been partners since 2008.

Notes:

[1] Campagna per la Riforma della Banca Mundial (Italy), Vlaaderen Netwerk (Belgium), Platform (UK) SETEM (Spain), Urgewald (Germany).

[2] The 13 European banks studied are: Santander, Barclays, BBVA, BNP Paribas, Citibank, Credit Agricole, Deutsche Bank, ING, Intesa Sanpaulo, HSBC, RBS, Societe Generale and UniCredit.

+ photos of the action are available online on Flickr: click here!

Bresaola Making Recipe For Making Bresaola?

Francis Aubert: "We must now tackle the shell companies and trusts

For the first time a French government representative speaks publicly the need to fight against the trusts, the legal mechanisms used to hide behind fictitious money in tax havens legally. He joins one of the demands of the campaign Hold-up: making the fight against tax havens is not limited to demand the lifting of bank secrecy. François d'Aubert goes even further: it also requires more transparency on the nature of activities that banks maintain in tax havens. In our press release published yesterday, we had asked France to bring these two topics at the Conference Berlin, which was held June 23 The debate was launched on users havens.

INTERVIEW - François d'Aubert is charged with a monitoring mission at Bercy on tax havens.

LE FIGARO. - Tuesday, ministers of the Budget can be found at the initiative of Paris and Berlin to take stock of progress in the fight against tax havens. Where are we?

François d'Aubert. - This is progressing well and quickly. There is a strong willingness on the part of States to comply with OECD standards. This commitment will result in the two months since signing numerous bilateral tax treaties with the territories of the gray list. Please note that membership came from countries far very reluctant, like Luxembourg and Switzerland. The authorities refused to provide any information unless proven fraud or money laundering, will meet tomorrow to claims based. The failure of France to have signed new agreements with Switzerland and Luxembourg is a milestone. With the Channel Islands, Belgium and Singapore, Switzerland and Luxembourg focus the bulk of the tax evasion of French origin.

Why Switzerland, so attached to its sacrosanct banking secrecy, she capitulated? Under pressure G20?
crisis leads to a requirement of regulation and moral circumstances surrounding the fight against tax havens, no state can remain indifferent to the overall pressure on pain of isolation and reputation tarnished. Offshore centers, tax havens and other jurisdictions are deregulated in the crosshairs of public opinion because they concentrate financial opacity and complexity. They are at the foot of the wall. They should respond positively to the pressure of the G20. The personal commitment of President Obama, the momentum generated by President Sarkozy and German Chancellor Merkel weighed. The business of UBS and Liechtenstein too.

The question of trusts and other sophisticated structures is currently ignored. Is this the next step?
Once ratified, these agreements must be implemented and used effectively. At the same time, we must tackle the shell companies, trusts and other offshore centers specialties whose opacity facilitates both fraud and money laundering that the ultra-sophisticated arrangements. For trusts, it will take at least the identity of the recipient is still accessible as an essential condition to be credible in terms of transparency. But this means taking into account additional criteria by consensus, an assessment of each country and the continuous updating of blacklists.

President Nicolas Sarkozy has asked banks to be more transparent. Do they play the game?
The demand for transparency is especially strong for the banks but also for groups who use tax havens. Today it is quite inadequate for these subsidiaries housed in non-cooperative jurisdictions. Of course banks have to provide relevant information to their customers, their employees, their shareholders on their offshore subsidiaries, by country and profession. The French parliament has to vote elsewhere accurate reporting obligations.

Tuesday's meeting will cover such possible sanctions. Do you have any leads?
the last G20, it was decided that sanctions and cons-concerted measures should be taken. Proposals are put forward which would aim at the same time discourage companies and banks to establish themselves and to limit capital flows. Tax benefits could be suspended, for example, deductions for expenses on activities in these territories. Alternatively, increase the rate of withholding under the Directive European savings.

Bercy opened a window for the repentant tax. Are there any concrete results?
Tax avoidance will become increasingly risky and many people realize. The new system is proceeding smoothly. Services Department received thirty inquiries a day and some negotiations are already underway.

Interview by Anne Cheyvialle for Le Figaro

(Source Le Figaro: http://www.lefigaro.fr/impots/2009/06/22/05003-20090622ARTFIG00320-francois-d- Aubert-it-is-now-s-attack-to-FVC-and-for-trust-.php )

How Fast Does A Dune Buggy Go

French banks pushed for transparency

Now the banks find themselves obliged by law to report their activities in tax havens ... The financial crisis has indeed revealed the importance of these activities in those jurisdictions where financial speculation or other lending activities are not constrained by the same rules as in other countries. Alternatives Economiques announced in March that the BNP Paribas for example had 189 subsidiaries in tax havens including not less than 27 only for the Cayman Islands: is it really to conquer the market for these small islands?

After long game of hide and seek with the government who supports them financially, it is ultimately driven by the Parliament that French banks will be required to more transparency. The amendment slipped into the bill to merge the Banque Populaire and Caisse d'Epargne is however not very accurate, except that they should explain the nature of their activities in tax havens in the Annex their annual reports every year. It is the ministerial order to determine the exact scope final information they should provide ... to be continued on the long road to transparency. France has still not forbidden, as is already the UK, the application of this principle of reporting by country multinationals.


Subjected to increasing pressure since the outbreak of the crisis, French banks will raise part of the veil on their activities in tax havens, an obligation that France would like to generalize in the next G20.

Since the vote on the Merger Act Caisse d'Epargne, Banque Populaire last week, schools French credit are legally obliged to transparency in their relationships with non-cooperative tax jurisdictions. Specifically, banks must publish an annex to their annual accounts "information" about their locations and activities in tax havens - a rare occurrence in Europe.

change is not small. Until then, they were committed to "transparency" to the banking commission, the national supervisor, but not to the public. According
an investigation of Alternatives Economiques in April, BNP Paribas, Credit Agricole and Societe Generale, the three most affected, totaling 361 offshore entities, although French banks are much less in tax havens as their counterparts, particularly British.

NGO side, the news is welcomed. "This may send a signal to the entire economic sector and have a leading role" in the fight against tax havens, welcomes Maylis Labusquiere Oxfam France, which believes that "self-regulation is not enough."

Chairman of Transparency International France, Daniel Lebegue welcomes a "symbol" that can have a "deterrent", while reiterating that "it is not to condemn the presence of banks in these territories, "which is not illegal.

This new provision reflects more generally the increased pressure of government. Friday, Budget Minister Eric Woerth has estimated that the relationship between banks in tax havens asked" clarification ". In April, President Nicolas Sarkozy himself had demanded that credit institutions are" copies "on the subject.

central points of the device, however, remain unresolved. The nature of information that banks will still unveil uncertain and must be specified by order of the Ministry of Economy. "The scope" of the information concerned "Will be decisive," said a source familiar with the matter.

The "Mr. havens" Government is ambitious

According to François d'Aubert, interministerial delegate for the fight against uncooperative jurisdictions, the law should force banks to publish their location "country by country" and not large area could include tax havens. According to him, banks should also be required to describe their activity in terms of offshore deposits, revenues, results and business (private banking, investment, retail, ...). According

Daniel Lebegue, institutions should also indicate how they control the "risks" to such territories, including the ability to see transit of dirty money.

Questioned by AFP, the French Banking Federation was unable to immediately comment. "The banks fear that such a requirement would create problems of competitiveness" relative to their competitors, says Mr d'Aubert.
Meanwhile, the government hopes to extend this obligation of transparency to all the G20 at the upcoming summit in late September. "We are currently to submit proposals to our partners, "says one at Bercy.

Source: The Point ( http://www.lepoint.fr/actualites-economie/2009-06-16/paradis-fiscaux-les -banques-francaises-poussees-a-la-transparence/916/0/352947 )

Guys Pissinng In Underwears

Fight Capital Flight

few months ago, the European network Eurodad, launched a campaign to raise public awareness about the tax evasion. Titled "Fight Capital Flight", and illustrated with clever visuals, it highlights the catastrophic impact of capital flight has on development in poor countries.

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Interview Eva Joly, MEP Europe Ecology

the occasion of a trip to campaign in support Michele Rivasi, then candidate Europe ecology in the Southeast, Eva Joly denounced the scandal of tax havens near one of the best known of them: Monaco.

tax haven, social hell! Eva Joly
sent EuropeEcologie . - The news of the moment on video.

Eva Joly, and all candidates in Europe have signed the ecology " Declaration of Commitment " containing five proposals for regulating the campaign Holdup .

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havens, the great escape. A film by Frederick Brunnquell

The world has never received so much wealth. The sale of luxury goods has broken all records, the number of billionaires grew ever ... Yet, public deficits and accumulate dangerously widening. But where is the money of our states? Is a citizen that I am asked the question and I investigated for this movie. I discovered that he escaped to the small country without taxes: tax havens. At the globalization of the economy, they are home to more than 11,000 billion.

To tell, I did make an object that represents the tax haven: a snow-ball with two palms and a flag with above a dollar.

Sequence after sequence, it reveals the circumstances, causes, but especially unworthy smile! I offer the singer Bono Lakshmi Mittal at ... To all those billionaires who do not pay taxes, their counsel, the major accounting firms that organize the assembly of tax evasion.

Brunnquell Frederick, director of "tax havens, the great escape"

Tax Havens, The Great Escape Part 1
sent williwauller . - The international news video.

The film takes us to Africa, the Caribbean, London, Washington to Jersey. To show that big business could not care less of the destination of the money provided it is exempt from taxes. The film finally reveals that the traditional capitalist economy brand now not in favor of offshore finance. Each year, the world, tens of thousands of billions of dollars lost to tax havens to evade taxes.

The UN needs $ 50 billion over 5 years to eradicate poverty worldwide. She did not find them. 50 billion is only 0.5% of private deposits deposited in tax havens.

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$ 50 000 per second ... 3000 ... $ 0000 per minute 1.728 billion U.S. dollars a day ...

$ 50 000 per second
sent in-the-prairie . - Watch the latest videos of news.

To do away with tax havens, sign the open letter to Nicolas Sarkozy and PILGRIM, PEACE AND JUSTICE, LAND, SECURED, Catholic Relief Services and the Faith and Justice Network. Sign here: http://petition.blog.pelerin.info/

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Permit escape, the film directed by ATTAC Vania Jaikin

This film offers a vision that is both entertaining and insightful a theme - oh so important these days! The director says taxation through fun animations in a new and accessible tou-te-s. Several fascinating interviews (such as Sébastien Guex, Uni Lausanne Gerold Bührer economiesuisse, Fulvio Pelli, PRD; Andreas Missbach, DB and Attac activists) are very rewarding, both for the specialist than for the novice in this area .

ATTAC Other videos are here ...

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Half of French MEPs support our claims!

After the election, a large work camp opens for the French deputies elected to Parliament: the regulation of multinationals. Of the 72 MPs who were elected Sunday, June 7 by the French, 35 of them signed the "Declaration commitment " containing the five proposals for regulating the campaign Holdup .

Beyond Ecology elected in Europe (14 members), PS (14 members) and the Left Front (4 members) who have signed Declaration collectively, support for the campaign are all trends via modem (6 members) and UMP (29 deputies). Many members aware of the impact of multinationals in the South, through the mobilization of our networks over the past three months.

Oxfam France - Agir ici ensure that those MEPs with their European counterparts build broad coalitions in order to regulate the activities of European companies abroad. We will continue to challenge the newly elected parliamentarians to honor their commitments to a Responsible Europe throughout the next term.

From the opening of parliament in Brussels in autumn 2009, the appointment will be many: Revision of EU Directive on taxation of savings, workshops on "social and environmental reporting" business taking place from September 2009 to March 2010 and should enable the EU to clarify its position to establish, finally, the reporting requirement for companies and penalties for failure to do so.

candidates elected to Parliament (in bold: the signers of the Declaration of Commitment ) Northwest: 10 seats Left Front - 1 seat: Jacky Henin PS - 2 seats: Gilles Pargneaux, Estelle Grelier Ecology Europe - 1 seat: Helene Flautre MoDem - 1 seat: Corinne Lepage UMP - 4 seats: Dominique Riquet Tokia Saifi, Jean-Paul Gauzes, Pascale Gruny FN - 1 seat: Marine Le Pen West: 9 seats PS - 2 seats: Bernadette Vergnaud, Stéphane Le Foll Ecology Europe - 2 seats: Yannick Jadot, Nicole Kiil-Nielsen Modem - 1 seat: Sylvie Goulard UMP - 3 Seats: Christophe Béchu, Elisabeth Morin-Chartier, Alain Cadec Libertas - 1 seat: Philippe de Villiers East: 9 seats PS - 2 seats: Catherine Trautmann, Liem Hoang-Ngoc Ecology Europe - 1 seat: Sandrine Aries Modem - 1 seat: Jean-François Kahn UMP - 4 seats: Joseph Daul, Véronique Mathieu, Arnaud Danjean Striffler FN - 1 seat: Gollnisch Southwest: 10 seats Left Front - 1 seat: Jean-Luc Melenchon PS - 2 seats: Kader Arif, Françoise Castex Ecology Europe - 2 seats: Jose Bove, Catherine Grèze Modem - 1 seat: Robert Rochefort UMP - 4 seats: Dominique Baudis, Christine Veyrac Lamassoure, Maria Theresa Sanchez-Schmidt Southeast: 13 seats Left Front - 1 Headquarters: Marie-Christine Vergiat PS - 2 seats: Vincent Peillon, Sylvie Guillaume Ecology Europe - 3 seats: Michele Rivasi, Francois Alfonsi, Malika Benarab-Attou Modem - 1 seat: Jean-Luc Bennahmias UMP - 5 seats: Francoise Grossetete , Damien Abad (New Centre), Dominique Vlasto, Gaston Franco, Nora Berra FN - 1 seat: Jean-Marie Le Pen Massif Central- center: 5 seats PS - 1 seat: Henri Weber Ecology Europe - 1 seat: Jean-Paul Besset UMP - 3 seats: Jean-Pierre Audy, Sophie Briard-Auconie (New Centre), Brice Hortefeux Ile-De-France: 13 seats Left Front - 1 seat: Patrick Hyaric PS - 2 seats: Harlem Desir, Pervenche Beres Ecology Europe - 4 seats: Daniel Cohn-Bendit, Eva Joly, Pascal Canfin, Karima Delli Modem - 1 seat: Marielle de Sarnez UMP - 5 seats: Michel Barnier, Rachida Dati, Jean-Marie Cavada (New Centre), Marielle Gallo, Philip Juvin Overseas: 3 seats left Miscellaneous - 1 seat: Elie Hoarau PS - 1 seat Patrice Tirolien UMP - 1 seat: Marie-Luce Penchard

What can European Union do?

Parliament European elected every five years, the Parliament is the only EU institution that is elected by universal suffrage. The European elections are a unique opportunity for every citizen to take part in European political debate and to hear his voice. The voting is held in eight constituencies in proportional representation in France and takes place over a single lap. The seats are distributed among the lists receiving more than 5% of the votes cast. Parliament's power has been increased in recent years by extension, in legislation, the co-decision procedure with the Council of the European Union.

The European Union is committed to actively promote sustainable development worldwide. It has the duty not to seek its economic growth at the expense of states and peoples of the South by allowing its corporations to violate the social and economic rights with impunity.

She has the opportunity to undertake actions that we recommend, since the multinationals that have the greatest influence in the world are almost all based in Europe, where well over half of tax havens.

In the absence of an international legal framework for multinational companies, a development of existing provisions may see the light and partly fill the legal vacuum in which companies now surf

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Tax Havens: Q &

What is the difference between tax evasion and tax fraud?

fraud is considered an illegal act involving civil or criminal penalties. Examples of the price manipulation of trade between subsidiaries, false billings or for individuals, the failure to report income. The escape tax is a priori in the field of what is allowed. There are, however, between the two is a gray area in which there is a range of practices of tax avoidance by companies or individuals. The difference between fraud and tax evasion will then depend on the laws.

What are the criteria for defining a tax haven?

Tax havens are territories which are sovereign states or dependencies more or less independent of other countries (Jersey, Cayman Islands, Monaco, etc.). There is no consensus on their definition. The lists published by the OECD (Black, gray and then white as countries have pledged to meet OECD standards for the exchange of tax information or are already in compliance) with the G20, 2 April 2009, constitute a first welcome step to force some tax havens to relax the conditions under which they may waive their banking secrecy. The OECD approach, however, is insufficient because it does not take into account all mechanisms of opacity, such as concealing information about the beneficial owners of trusts. Similarly, it does not measure the effectiveness of judicial cooperation in tax havens very important for judges investigating cases of money laundering or embezzlement.

Which countries in Europe that need to preserve bank secrecy in tax havens?

About half of the 72 tax havens around the world are located on European territory. Luxembourg, Belgium, Austria and Switzerland guarantee registered customers in their banking secrecy protection, including in the case of a tax investigation of their country of origin. This secrecy was immovable property in those countries. In the UK, bank secrecy is not as protected but procedures for judicial and administrative cooperation are long and complex. Jersey, Guernsey or the Virgin Islands, notorious tax havens, are none other than the British Crown dependencies whose institutions are largely overlapping with those of London.

That may materially France against Andorra and Monaco?

Andorra is an independent state. But the links with France are likely to start by co-chair of this small territory which belongs to the bishop of Urgel, in Catalonia, but also the President of the French Republic. The Principality of Monaco undertakes to respect it in its constitution that its actions are consistent with the fundamental interests of the French Republic in the political, economic, security and defense. More specifically, in the context of the monetary agreement on the introduction of the euro, the Principality has to adapt its banking and financial legislation. The termination of agreements between these two territories to France would have a great effect, but above all address the use of tax havens which are available means of pressure: the French banks and multinationals.

How do I know if a company subsidiaries in tax havens?

In France, companies provide some information on the results of their activities and those of their subsidiaries in countries where they operate. Much of this information is available on the website of the national registry of commerce and corporations, which is a pay site: www.infogreffes.org . But France is an exception in the European Union. The Anglo-Saxon publication of accounts by companies that do not provide such information. Some data are available on http://www.corporatewatch.org . Finally, some companies do not hide their links with tax havens and mention on their website. magazine Alternatives Economiques has also just published a study on implementation of CAC 40 companies in tax havens ..

Why not call for the closure of tax havens?

The tax havens (PFJ) is a sovereign state. The advantages they offer in terms of financial deregulation, low taxation, ease of business formation and opacity correspond to a complex body of legislation and specific to each territory. But based on greater cooperation International, the big nations have the means of action, since half of tax havens are located on European territory or the Crown Dependencies British or the French government with regard Andorra and Monaco. Many opportunities exist and sanctions could be implemented quickly, such as the denunciation of these tax treaties that bind states to tax havens. Trying too hard to tackle tax havens, do not forget, however, those who make their fortunes: multinationals and banks. Tax havens are not used as scapegoats for diverting attention from the responsibility rich countries.

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Unite against tax havens!

In summary the slogan which was held on May 29 in the National Assembly, participants symposium havens and judicial hell: justice or chaos . Judges, journalists, researchers, NGO members, government officials: speakers come from all walks take stock on how to combat these secrecy jurisdictions with multiple crimes. Diversity in the image of what this struggle must be to be effective: plural and cross.

Differences of opinion ...

The meeting of these various actors of course highlighted many differences. The balance G20 , among others. Denis Robert, journalist and writer, calls it a "farce", supported by Bernard Bertossa, former prosecutor of Geneva, which condemns the list G20 as useless and only serve to designate scapegoats - small islands - in the face of great powers "white." Christian Chavagneux, editor of Alternatives Economiques is more optimistic: he believes in the seriousness of the commitment of countries against tax havens. He regrets that the G20 has not spoken out against abuses by multinationals, and supports the proposal to Oxfam France - Agir Ici and CCFD - Earth integral on the need for a country by country reporting ( see our recommendations ). The secrecy also created controversy: reviled by many, he finds a lawyer Bernard Bertossa which, if be its illegitimacy regarding the relationship between taxpayers and tax administration, does not advocate its total abolition, too dangerous to fundamental freedoms ...

... and unanimous findings

If stakeholders do not accord the same importance to the decisions of the last G20, all recognize that more must be far out, in the words of Eric Alt (Union of Magistrates), a "culture of submission and resignation." In this regard, François d'Aubert, a former minister and newly appointed General Delegate to the fight against tax havens, is reassuring: there will be consequences. The means, however, are lacking, be it in French, as noted by Vincent Drezet, the National Union of unified tax (SNUI), where at the international level, as the judges deplored. For if the fight against tax havens involves many sectors (banking, financial, judicial ...), it also transcends borders. Alain Deneault, Canadian philosopher and writer, testified for example the consequences for the countries in which they operate, of extractive industries in Canada.

Optimism, "undue philosophical

Regarding the concern, shared by many, to see the enthusiasm for the fight against tax havens fall as early 2000s, the journalist Liberation Nicolas Cori invites NGOs to maintain their vigilance in order to better involve the press in exposing their activities. The members present to remind them turn it is also the responsibility of journalists make the news!

The last word comes to Bernard Bertossa: "Until today, I was optimistic for two reasons. First, because it is a philosophical constraint: without that, we would not do anything! Second, because if you look back, some progress is being made: money laundering, for example, is now an offense. I will add now a third source of satisfaction: the number of speakers at this symposium, the quality of reflection and engagement that reflects! "

Piederrière Morgan and Isabelle Tallec, Oxfam France - Agir ici

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Banking Secrecy and secret ballot

believe that the European elections of June 4 to 7, sealed by the same forbearance, n 'will have no impact on the folder trapped taxation between Switzerland and the EU would be a grave mistake.

Hunting banking secrecy and tax havens is one of the few themes to electoral recipe in the twenty-seven EU countries. This is not the result of a survey, although it would be helpful on this subject, the results of an opinion poll reliable kind Eurobarometer. I wish this statement at least a dozen MEPs, all political groups, busy these days to somehow convince their constituents demobilized. Surprising indeed: the subject, high-profile, has finally been accepted from Brussels to Bucharest. Advantage: it is explained and summarized easily. Much more easily in all cases than the average European subjects whose complexity discourages ordinary citizens. Not without risk of caricature.

Those who, these days in Brussels and Berne, explain looks good confident that the storm G20 is behind us, and what happens in Strasbourg - the European parliament who no fiscal powers - counts for nothing or almost, would do well to monitor what comes out of the secret ballot. is said already, in the Belgian capital, the next European Commissioner for Taxation, ext hitherto little appreciated, will be knighted by the large country and show his toughness against uncooperative, or too slow to cooperate according to EU criteria.

It is also expected in case of rise of the extreme Left and the Greens, that the future president of the European Commission, which should be endorsed at the first meeting Parliament on July 15, must make commitments on the issue before the European parliament. So many awkward moments to come to Switzerland, whose efforts to accelerate the necessary renegotiation of double taxation agreements are likely to stumble on the schedule imposed by the G20. A further meeting of Finance ministers of the group is discussed for September. A new high level of heads of state, is planned for November. The Federal Department of Finance, who confirmed this weekend having completed two agreements without identifying the countries (Denmark and Luxembourg are discussed) more than food on the plate.

Car response may not only be to reach the number "magic" of the twelve conventions required by the OECD. It will also go into politics. It is already known, for example, that the adoption promised by Belgium of the automatic exchange of information on tax on 1 January 2010 - and the abandonment of its contiguous banking secrecy for non-residents - will be a boon for critics of all stripes Swiss practices. Preparedness is therefore essential. European elections require a reflection on the overall architecture bilateral during the 2009-2014 term.

We also know that the inauguration of the new European Parliament will be in a Swedish Presidency of the EU makes no secret of his intransigence tax. At Economic Forum in Brussels on 14 and 15 May, the official program of the Commission presented the Swedish Finance Minister Anders Borg as "iron man" determined to make his mark. Station, finally, the surprises came from other states or jurisdictions targeted by the third-greylist OECD. The skill which gave evidence for Jersey and Guernsey sign tax treaties of the number required before the G20, 2 April in London could well be emulated in other forms. The European Commission is much talk these days, with Monaco and Andorra. Which draw some of their ideas in Liechtenstein, whose government is doing its best to meet EU requirements.

Bern, rightly, will not fail to say much more than these micro-states, others must act and show "white leg" as Singapore, Hong Kong or Macao, which the least that the we can say is that they seem in no hurry. But anyway: Monaco and Andorra bleached. Liechtenstein became a "good student". The Luxembourg busy knitting alliances within the EU. It is September 2009. Switzerland'm negotiating very hard, it remains isolated. Such a scenario rimerait indeed with "danger."

Richard Werly, Time

(Source "The Times": http://www.letemps.ch/Page/Uuid/1dd8b7ec-48f1-11de-9896-a800b234788e/Secret_bancaire_et_secret_des_urnes )

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"Profits real responsibility artificial", the campaign of Friends of the Earth International

Friends of the Earth are launching a public campaign on the theme of social responsibility and environmental responsibility (CSER), entitled "Profits real responsibility artificial encadrons responsibility Multinational . The campaign asks members to strengthen the legislation "Grenelle 2", which will be voted in the fall.

The financial crisis, economic, ecological and social that is currently shaking the world, considered as the worst since 1929, is an opportunity to take the responsibilities of actors in an economic system that shows serious structural failures. Yet while the leaders of major world powers put their hands in their pockets to avoid a collapse of the global economy and the taxpayers are heavily drawn on, the activities of multinationals are still very little framed.

multinationals (particularly financial) are yet largely responsible for the crisis, which pushed to the extreme system maximizing short term profits at the expense of social justice and the environment. They have not hesitated to make this massive pressure on governments, which largely deregulated the economy and global finance to the detriment of general interest and benefit of a minority of managers and shareholders. Multinationals are also responsible for many current disasters and preparedness, particularly in the South where they enjoy legal deficiencies in conducting local activities are sometimes very heavily on polluting and detrimental to local populations.

The legislation "Grenelle 2" will soon be discussed for a vote this fall, but its first version is very lax in terms of social responsibility and environmental responsibility, despite explicit promises of a resident of Republic in autumn 2007.

Friends of the Earth launch so this new campaign asking citizens to call their MPs to strengthen the legal obligations of multinationals on three points:

• achieve environmental and social responsibility of the parent companies on their foreign subsidiaries;
• strengthen reporting their social and environmental impacts;
• improve inclusion the views of citizens in the prevention of industrial risks.

Wasse To Gwen, Campaigner CSER Friends of the Earth: "The current economic crisis and ecological highlights of blatant abuse by some Multinational ultra-powerful in recent decades, to the detriment of the people of North and South of the planet. It's time that multinationals are framed by the law wherever they operate! .

A petition is posted on the website of Friends of the Earth, which can be signed and sent directly to members: www.amisdelaterre .org / petitionrsee