asterisk2a + offshore   66

Windfarm industry urges UK to lift onshore subsidies ban | Environment | The Guardian
Ministers have been urged to drop their block on subsidies for onshore windfarms, as industry figures showed that nearly 800 renewable projects are ready to plug much of the power gap left by the abandonment of the Wylfa nuclear project.

Hitachi dropped plans for the nuclear plant in Wales this week, raising questions over what would replace it and leading the business secretary, Greg Clark, to admit that renewable energy sources are more competitively priced than nuclear.
nuclear  renewable  UK  energy  policy  wind  onshore  offshore  infrastructure  investment  Brexit 
28 days ago by asterisk2a
British overseas territories in talks to keep tax haven secrecy | World news | The Guardian
Leaders of British overseas territories are to hold two days of showdown talks with ministers in an attempt to reverse the UK government’s decision to end secrecy for offshore tax havens.

British Virgin Islands (BVI), Bermuda, Cayman Islands and Turks and Caicos Islands,

An unexpected vote by MPs at the beginning of May to impose public registers of share ownership in all the BOTs has triggered angry resistance including street protests, boycotts of the Queen’s birthday celebrations, and even demands for constitutional separation.
UK  Tories  tax  evasion  Great  Britain  offshore  avoidance  taxevasion  taxavoidance  HMRC  Europe  heaven  British  Virgin  Islands  Bermuda  Cayman 
june 2018 by asterisk2a
Firms on Caribbean island chain own 23,000 UK properties - BBC News
A quarter of property in England and Wales owned by overseas firms is held by entities registered in the British Virgin Islands, BBC analysis has found.
UK  tax  evasion  avoidance  offshore  Kapital  neoliberal  neoliberalism  capitalism  globalisation  globalization  money  laundering  white-collar  crime 
february 2018 by asterisk2a
Facebook to stop routing ad revenue via Ireland amid pressure over taxes | Technology | The Guardian
Company says it will book advertising revenue in countries where it is earned instead of through Dublin headquarters
Facebook  Ireland  Netherlands  tax  evasion  avoidance  offshore  haven  Google  Amazon  Luxembourg  European  Union 
december 2017 by asterisk2a
First tax havens blacklist published by EU - BBC News
There is no Ireland nor Netherlands in it. //&! https://www.theguardian.com/business/2017/dec/05/is-the-eu-tax-haven-blacklist-a-whitewash - Is the EU tax haven blacklist a whitewash? At first glance Brussels seems to have let off the worst offshore offenders but look at the accompanying greylist and it appears the EU means business &! https://www.theguardian.com/commentisfree/2017/dec/07/eu-tax-haven-blacklist-whitewash-west-imperialism-tackle-avoidance
EU  tax  evasion  avoidance  European  Union  offshore  haven  UK 
december 2017 by asterisk2a
Where did all the money go? - BBC News
Paul Manafort money laundering and tax evasion = "Conspiracy against the United States" to evade tax is not very patriotic.
money  laundering  Paul  Manafort  DonaldTrump  Donald  Trump  tax  evasion  avoidance  offshore 
october 2017 by asterisk2a
Amazon and Apple caught in latest EU tax crackdown - BBC News
Amazon has been ordered to repay €250m (£221m; $293m) in back taxes after the European Commission said it had been given an unfair tax deal in Luxembourg.
The Commission also plans to take Ireland to court over its failure to collect €13bn of back taxes from Apple. // https://en.wikipedia.org/wiki/Double_Irish_arrangement Double Irish w Dutch Sandwich https://en.wikipedia.org/wiki/Dutch_Sandwich
Apple  Amazon  tax  evasion  avoidance  European  Union  offshore  Luxembourg  Ireland  Dutch  Netherlands  Brexit  UK  haven 
october 2017 by asterisk2a
Homebuyers desperate to know who really owns their freehold | Money | The Guardian
[ wild wild west ] A pass-the-parcel nightmare sees freeholds sold by major housebuilders to obscure companies which demand huge sums [... eg ] a fee charged without any material services provided [...] All the leaseholders who contacted Guardian Money are united in their frustration at finding out who is really behind the money extracted from them once their freehold is sold on.
Leasehold  freehold  land  value  tax  Housing  Crisis  Generation  Rent  Generationengerechtigkeit  disposable  income  discretionary  spending  exploitation  self-regulation  profit  maximisation  neoliberal  neoliberalism  Capitalism  evasion  avoidance  UK  regulation  regulators  Legal  Aid  LegalAid  underinvestment  Austerity  Eigentum  ownership  offshore  HMRC  corruption 
july 2017 by asterisk2a
Tax evaders exposed: why the super-rich are even richer than we thought | Inequality | The Guardian
The higher one moves up the wealth distribution, the higher the probability ​​of hiding​ assets [...] More broadly, the key to successfully fighting tax evasion is to change the incentives for the providers of wealth concealment services. Over the last few years, a number of banks have pleaded guilty in the US to criminal conspiracies to defraud the Internal Revenue Service – yet they were able to keep their banking licences, and the fines they had to pay paled in comparison to their profits. A more ambitious approach would put criminal organisations out of business. If tax evasion ceases to pay, it will disappear.
UK  tax  evasion  avoidance  taxation  corporate  welfare  asset  capital  Thomas  Piketty  lobby  Delaware  USA  Luxembourg  Ireland  offshore  banking  money  laundering  Super  Rich  1%  Plutocracy  Oligarchy  revolving  door  KPMG  PanamaPapers  Switzerland  moral  ethics  crime  White-collar  HMRC  Austerity  gini  coefficient  inequality  social  mobility  income  poverty  trap  state  Meritocracy  Meritocratic 
june 2017 by asterisk2a
The new robot revolution will take the boss's job, not the gardener's | Business | The Guardian
Advances in artificial intelligence mean a second wave of change is approaching – and it is not the low-paid service sector where jobs are most at risk // Studies have shown that technological change rather than trade has been responsible for the vast majority of the jobs lost in manufacturing in the developed world. Put simply, machines have replaced humans. Robots have taken over factories. // https://twitter.com/ianbremmer/status/822930363827757056 20/80 split. - Technology—not int'l trade—accounts for 85% of the lost manufacturing jobs in the US. Feels like it's worth the reminder. &! https://www.theatlantic.com/business/archive/2014/01/the-dark-side-of-globalization-why-seattles-1999-protesters-were-right/282831/
AI  automation  Robotics  self-driving  cars  autonomous  vehicles  squeezed  middle  class  USA  UK  technological  unemployment  UBI  Universal  Basic  Income  Grundeinkommen  economic  history  education  policy  creativity  Richard  David  Precht  Alain  de  Botton  globalisation  globalization  offshore  outsourcing  contractor  contract  zero  hour  part-time  workers  union  trade  rights  Self-Employment  gig  economy  wage  growth  neoliberalism  crony  capitalism  tax  evasion  avoidance  Competition  corporatism  monopoly  oligopol  oligopoly  1%  10%  Super  Rich  Plutocracy  Oligarchy  welfare  state  redistribution  distribution  Precariat  working  poor  downward  mobility  social  poverty  trap  Austerity  underinvestment  underemployed  underemployment 
january 2017 by asterisk2a
Brexit: Boris Johnson warns against 'punishment beatings' - BBC News
And HSBC announced it was preparing to move 1,000 staff from London to Paris when the UK leaves the EU. [...] Guy Verhofstadt said there was 'no way' the UK could pick and choose aspects of the EU [...] German Chancellor Angela Merkel said: "The be-all and end-all is that Europe does not let itself be divided, and we will ensure that with very intensive contacts.'' EU governments would consult their business sectors, she added, and she was "not worried that we will not stick together". [...] The Financial Times praises the prime minister's "bold vision" but warns that the road ahead will be perilous. [...] At Prime Minister's Questions, Mr Corbyn urged Mrs May to "stop her threat of a bargain basement Brexit, a low-paid tax haven on the shores of Europe".
He added: "It won't necessarily damage the EU but it would certainly damage this country." [...] Mrs May told MPs: "What I set out yesterday was a plan for a global Britain, bringing prosperity to this country and jobs to people and spreading economic growth across this country." [...] "not just nasty but also blind to reality".
Brexit  European  Union  Theresa  May  Jeremy  Corbyn  Liberal  Democrats  Nick  Clegg  Labour  tax  haven  offshore  evasion  avoidance  regulation  self-regulation  deregulation  welfare  state  DWP  Austerity  neoliberalism  crony  capitalism  nasty  party  Tories  Conservative  indyref2 
january 2017 by asterisk2a
A UK trade deal with Trump? Be careful what you wish for | Politics | The Guardian
Health
A big fear during the TTIP negotiations was that US insurers and health providers would undermine the NHS by pressing for open access to the UK “market” in medical care. “A rushed trade deal with Trump may give ministers cover for their dangerous Brexit strategy but it will not hide the risk that this could be a Trojan horse for NHS privatisation,” warned the shadow health secretary, Jonathan Ashworth on Monday.
NHS  Brexit  TTIP  Privatisation  Regulation  self-regulation  CETA  neoliberalism  crony  capitalism  trade  deal  Austerity  taxation  tax  haven  offshore 
january 2017 by asterisk2a
Firms poised to take advantage of NHS shake-up 'avoid tax on their profits' | Politics | The Guardian
https://corporatewatch.org/news/2012/mar/16/unhealthy-business-major-healthcare-companies-use-tax-havens-avoid-millions-uk-tax // Spire Healthcare, Care UK, Circle Health, Ramsay Health Care, General Healthcare Group, // Spire, Care UK, General Healthcare Group and Ramsay** are all carrying significant levels of debt after their owners financed their acquisitions through borrowing. The interest being paid to banks and bondholders – which is far higher than the government would be paying for equivalent sums - is also serving to reduce taxable profits.
NHS  tax  avoidance  evasion  UK  HMRC  offshore  haven  Privatisation  nasty  party  Conservative  Tories  1%  10%  20%  Plutocracy  Super  Rich 
january 2017 by asterisk2a
Netherlands 'will block UK-EU deal without tax avoidance measures' | Politics | The Guardian
The Netherlands will block any EU trade deal with the UK unless it signs up to tough tax avoidance regulations preventing it from becoming an attractive offshore haven for multinationals and the rich, the deputy prime minister of the country has said.
Brexit  UK  offshore  tax  evasion  avoidance  HMRC  European  Union  taxation  George  Osborne  David  Cameron  Theresa  May  Philip  Hammond  Austerity  Tories  Conservative  Party  nondom  nasty  Ireland 
january 2017 by asterisk2a
Oh for the 1960s! People earned less but could afford more | Money | The Guardian
[ fetish of GDP ] Economic growth since the 1960s has been real, but the link between growth and personal prosperity has broken down, probably since the 1990s. We can carry on pushing for increases in GDP, but it’s meaningless unless it translates into a recovery in living standards. If any government really wants to help the left-behinds, then cutting house prices and rents must be their first priority.
GDP  wage  growth  income  distribution  economic  history  profit  maximisation  capitalism  crony  oligopoly  monopoly  Platform  Self-Employment  Productivity  squeezed  middle  class  working  poor  globalisation  Competition  liberal  reform  competitiveness  disposable  discretionary  spending  investment  creditcard  credit  GFC  recovery  Austerity  secular  stagnation  taxation  1%  Super  Rich  Plutocracy  10%  20%  bank  bailout  Privatisation  outsourcing  offshore  banking  tax  evasion  avoidance  child 
december 2016 by asterisk2a
McDonald's move will test the type of post-Brexit economy Theresa May wants - BBC News
some betting on the possibility, UK turning into a tax safe haven // The McDonald's announcement - which may not actually mean much in job terms - is part of a wider bet on the shape of the UK economy after the departure from the EU.
Brexit  Ireland  tax  evasion  avoidance  safe  haven  offshore  banking  corporate  rate  taxation 
december 2016 by asterisk2a
IMF urges more spending to boost growth
Fund’s steering committee calls for more forceful stimulus and warns monetary policy alone is not enough //&! http://www.theguardian.com/business/imf //&! bit.ly/1V9pfhD - IMF chief: regulators long 'alarmed' over Panama's handling of taxation. Christine Lagarde responds to Panama Papers revelations, noting that authorities were concerned but did not take ‘expected’ action.
secular  stagnation  Panama  Papers  tax  evasion  tax  amnesty  tax  avoidance  corporate  tax  rate  labour  market  job  market  Service  Sector  Jobs  income  tax  receipts  budget2016  George  Osborne  David  Cameron  general  election  2015  general  election  2020  election  campaign  promises  Party  Funding  Richard  Koo  Confidence  Fairy  austerity  underinvestment  Generationengerechtigkeit  triple-lock  pension  fairness  Generation  Rent  Housing  Crisis  property  bubble  USA  UK  reflation  reflate  fiscal  policy  Pact  Schuldenbremse  Angela  Merkel  Wolfgang  Schäuble  GFC  sovereign  debt  banking  bank  bailout  job  creation  squeezed  middle  class  working  poor  disposable  income  discretionary  spending  IMF  OECD  credit  bubble  China  BRIC  recovery  Germany  economic  history  2016  Niall  Ferguson  budget  deficit  offshore  banking  investment  banking  TBTF  self-regulation  Greed  crony  capitalism  shareholder  capitalism  globalisation  globalization  global  economy  Oil  price  commodity  prices  ChristineLagarde  inequality  Gini  coefficient  income  mobility  social  mobility  low  pay  low  income  tax  credit  child  poverty  food  poverty  health  care  cost  health  care  demand  western  world  European  Union  Brussels  Brexit  Grexit  sick  population  health  economic  Union  Union  investment  policy  fiscal  me 
april 2016 by asterisk2a
Ed Miliband says Panama Papers show ‘wealth does not trickle down’
'Since Reagan and Thatcher, the basic view has been, ‘Be nice to the super-rich and their wealth will trickle down.’ [...] In an interview with the Observer, he said he understood why David Cameron defended his father after the Panama revelations were leaked. “But for 30 years, since Reagan and Thatcher, the basic view has been, ‘Be nice to the super-rich and their wealth will trickle down.’ That is the big lesson of Panama for me. It doesn’t trickle down; it gets stashed.” The former Labour leader is helping to promote a new low-budget documentary, the Divide, which explores the wealth gap through seven families striving for a better life in Britain and the United States.
Panama  Papers  trickle-down  economics  trickle-down  effect  trickle-down  theory  tax  evasion  tax  amnesty  tax  avoidance  offshore  banking  shell  company  Super  Rich  1%  plutocracy  oligarchy  conglomerate  multinational  crony  capitalism  shareholder  capitalism 
april 2016 by asterisk2a
Gerald Celente On Soros & The Panama Papers & Why A Hillary Clinton Presidency Means War
Why do they not publish all the name that use the services and avoid taxes legally through tax loopholes?!?! All the sudden it is PRIVATE DATA! national accounts of a county economically damaged by tax evasion and avoidance is all the sudden PRIVATE DATA. A PRIVATE MATTER. Who's names did they publish? Russia, China, ... Iceland and a non-incriminating account of David Cameron. It stinks! Doesn't pass the sniff test. //&! Full Show: Soros And CIA Behind Panama Papers - 04/05/16 - The Alex Jones Channel - youtu.be/qNKAt3DxZXo [...] min 1:09:00 - John McAfee "smear enemies [...] we know who you are, we can black mail you" west keeps it's powder dry! //&! zerohedge.com/news/2016-03-28/top-german-journalist-admits-mainstream-media-completely-fake-we-all-lie-cia >> police infiltrated Greenpeace and other activist groups because they are deemed terrorists, duh. What stops them to go even further, nowadays?
Panama  Papers  Iceland  western  world  Putin  vladimirputin  journalism  journalismus  journalist  democracy  Lügenpresse  trust  No  Representation  Whistleblower  Wikileaks  Platfom  transparancy  transparency  accountability  propaganda  Positioning  conglomerate  multinational  offshore  banking  GFC  budget  deficit  austerity  squeezed  middle  class  working  poor  Precariat  refugee  crisis  media  conglomerate  Polarisation  populism  smoke  screen  smoke  mirror  deceit  neoliberal  neoliberalism  neoconservatism  neoconservatives  Super  Rich  1%  plutocracy  oligarchy  Hegemony  CIA  NSA  China  Russia  fake  grassroots  activism  activist  grassroots  Wikipedia  Food  Politics  PR  shareholder  capitalism  Greed  crony  capitalism  capitalism  Career  Politicians  corruption  bribery  ethics  moral  beliefs  status  quo  governance  mainstream  media 
april 2016 by asterisk2a
A tax inspector calls
That's why the unsnappily-titled Joint International Tax Shelter Information and Collaboration network (JITSIC) is gathered in Paris, under the umbrella of the (cumbersomely-monickered) Organisation for Economic Co-operation and Development (OECD).
This so-called 'rich countries club' has been given the task of pursuing the erosion of countries tax bases by multi-national corporations. That much has been agreed by the G7 developed nations group, and the wider G20.
And in researching this, the OECD has come up with some fairly startling findings about the extent to which multi-nationals game the system. [...] As I noted before, they reckon that between $100bn and $240bn of corporate tax goes unpaid because of these accounting practices
Panama  Papers  HMRC  tax  amnesty  tax  avoidance  tax  evasion  IMF  OECD  multinational  conglomerate  offshore  banking  budget  deficit  shareholder  capitalism  crony  capitalism  capitalism  in  crisis  capitalism  austerity  squeezed  middle  class  working  poor  G8  G20 
april 2016 by asterisk2a
Is Stephen Crabb the man to tackle this age of extreme inequality?
The Panama Papers will lead to the dynamiting of Tory credibility, but new work and pensions secretary, Stephen Crabb, is unlikely to prove the saviour of his party’s reputation. [...] Last autumn’s U-turn over cuts to working tax credits was a smoke screen. The axe will fall, only not everywhere, not just yet. From this week, existing universal credit claimants will lose up to £220 a month as the work allowance is pared back faster than the national living wage increases to replace it. [...] Short of taking a vow of poverty and retreating like Charles V to a monastery, there is nothing he can say now that will change the perception that he is at the head of a party that has a fundamental personal interest in preserving the advantages of the 1%.
Stephen  Crabb  nasty  party  tax  credit  Universal  Iain  Duncan  Smith  welfare  reform  welfare  state  poverty  trap  poverty  child  poverty  social  safety  net  sanctions  JSA  ESA  PIP  Disabled  vulnerable  mental  health  austerity  George  Osborne  David  Cameron  Tories  Conservative  Positioning  PR  spin  doctor  manufactured  consent  snap  judgement  prejudice  triple-lock  pension  Generationengerechtigkeit  fairness  bank  bailout  budget  deficit  aggregate  demand  Budget2016  budget2015  general  election  2015  election  campaign  promises  Funding  constituency  Super  Rich  oligarchy  plutocracy  Confidence  Fairy  1%  democracy  food  poverty  fuel  poverty  tax  evasion  tax  amnesty  tax  avoidance  Panama  Papers  offshore  banking  tax  loopoles  lobby  No  Representation  Career  Politicians  Gini  coefficient  inequality  social  mobility  income  mobility  deprivation  crony  capitalism  shareholder  capitalism  corporate  welfare  HMRC  revolving  door  corporate  tax  rate  capital  gains  tax  DLA  Independent  Living  Fund  Holyrood 
april 2016 by asterisk2a
What the Panama Papers Tells Us About Global Capitalism
never seen David Cameron red-faced, so much! [...] sold in 2010!? And what was before that time? The time he was a MP!? [...] we are not all in this together, for sure! // book the hidden wealth of nations. - 7-8trn tax evasion and avoidance - not taxed. //&! Rumble - Just like FDR - Bernie Welcomes the GE CEO Hatred... - youtu.be/jT7NIoDS1gw - taking advantage of the tax laws THEY MADE.
Panama  Papers  David  Cameron  George  Osborne  tax  evasion  tax  amnesty  tax  avoidance  Super  Rich  Toff  Privileged  Establishment  Westminster  Whitehall  expense  scandal  No  Representation  Career  Politicians  1%  legal  loopholes  plutocracy  oligarchy  Tories  nasty  party  Richard  Wolff  Conservative  shell  company  offshore  banking  tax  loopoles  budget  deficit  austerity  fairness  Generationengerechtigkeit  neoliberal  neoliberalism  accounting  scandal  corporate  scandal  white-collar  crime  trickle-down  economics  free  market  corporate  tax  rate  Budget2016  self-regulation  underinvestment  squeezed  middle  class  working  poor  Gini  coefficient  child  poverty  corruption  bribery  money  laundering  UK  USA  Bahamas  CaymanIslands  income  distribution  tax  credit  Disabled  vulnerable  babyboomers  triple-lock  pension  DWP  capital  gains  tax  income  tax  receipts  secular  stagnation  western  world  social  mobility  income  mobility  trust  low  pay  shareholder  capitalism  crony  capitalism  low  income  Service  Sector  Jobs  Universal  Basic  class  warfare  disposable  income  discretionary  spending  credit  bubble  economic  history  Gesellschaft  Wertegesellschaft  materialism  consumerism  status  anxiety  pay 
april 2016 by asterisk2a
Im Zweifel links: Nimm, was du kriegen kannst!
Der globale Kapitalismus macht die ganze Welt zum Spielplatz der Reichen. Die Panama Papers erinnern daran: Nicht die Flüchtlinge sind unser Problem - sondern die Steuerflüchtlinge. //&! Die Mensch-Maschine: Leak ist Pop! Die Inszenierung übertrumpft die Inhalte: Die Panama Papers zeigen, wie sich die Bedeutung von Leaks verändert hat. Jeder liest darin, was er eh schon immer geglaubt hat. - bit.ly/25MV0AF //&! Briefkastenfirmen zerstören die Marktwirtschaft - bit.ly/1q2Vt0S //&! taz.de/!5289286/ //&! Die Panama Papers und das „Lügenpresse“-Dilemma - bit.ly/1VbfejK //&! bit.ly/1N6I1ya - kapitalistische Medienlogik //&! bit.ly/1SGNSfA - NO NYT //&! bit.ly/1PQor9j //&! cynycism wrong reaction - bit.ly/1SnKVjC
Panama  Papers  1%  Super  Rich  oligarchy  plutocracy  tax  evasion  tax  amnesty  tax  avoidance  austerity  budget  deficit  accounting  scandal  corporate  scandal  shareholder  capitalism  crony  capitalism  bank  bailout  Whistleblower  leak  Soziale  Marktwirtschaft  income  distribution  inequality  Gini  coefficient  meritocracy  meritocratic  American  Dream  money  laundering  Lügenpresse  trust  Career  Politicians  No  Representation  revolving  door  Wikileaks  investigative  journalism  journalism  offshore  banking  Schwarzgeld  Schwarze  Kassen  corruption  bribery  legal  loopholes  lobby  revolving  door  Party  Funding  campaign  finance  NYT  neoliberal  trickle-down  economics  neoliberalism  free  market  self-regulation 
april 2016 by asterisk2a
Tory party’s civil war | FT Comment
[ we are all in this together ] Lionel Barber, FT editor, and Janan Ganesh, political commentator, discuss the turmoil within the UK’s Conservative party, including the resignation of a cabinet minister following the government’s Budget. //&! Cameron’s Panama profits - https://youtu.be/jOm-24n16ik - skill full worded statements, No 10 was under lock-down.
George  Osborne  Budget2016  David  Cameron  PIP  Brexit  Tories  Conservative  Party  nasty  fairness  Panama  Papers  tax  evasion  tax  avoidance  tax  cut  corporate  tax  rate  austerity  Generationengerechtigkeit  babyboomers  triple-lock  pension  Generation  Rent  secular  stagnation  Richard  Koo  Niall  Ferguson  IMF  OECD  European  Union  Brussels  No  Representation  Career  Politicians  Toff  Privileged  Establishment  Super  Rich  1%  plutocracy  oligarchy  offshore  banking  PR  spin  doctor  Positioning 
april 2016 by asterisk2a
Why Everyone Must Get Ready For The 4th Industrial Revolution
For example, as automation increases, computers and machines will replace workers across a vast spectrum of industries, from drivers to accountants and estate agents to insurance agents. By one estimate, as many as 47 percent of U.S. jobs are at risk from automation. Many experts suggest that the fourth industrial revolution will benefit the rich much more than the poor, especially as low-skill, low-wage jobs disappear in favor of automation.

But this isn’t new. Historically, industrial revolutions have always begun with greater inequality followed by periods of political and institutional change. The industrial revolution that began at the beginning of the 19th century originally led to a huge polarization of wealth and power, before being followed by nearly 100 years of change including the spread of democracy, trade unions, progressive taxation and the development of social safety nets.
Mobile  Creative  Mobile  Creatives  augmented  intelligence  artificial  intelligence  AI  Robotics  automation  destruction  creativity  book  social  safety  net  welfare  state  tax  credit  working  poor  Precariat  low  pay  low  income  Universal  Basic  income  tax  receipts  job  creation  Service  Sector  Jobs  precarious  work  precarious  employment  Contractor  part-time  Zero  Hour  Contract  self-employment  tax  evasion  profit  maximisation  profit  maximization  shareholder  capitalism  shareholder  value  Wall  Street  M&A  Autonomous  Cars  Google  Car  Uber  public  transport  public  transportation  corporate  tax  rate  tax  amnesty  tax  avoidance  Panama  Papers  offshore  banking  Super  Rich  1%  plutocracy  oligarchy  Soziale  Marktwirtschaft  skills  gap  skills  economy  skill  mismatch  skill-biased  technological  change  skill  gap  skills  mismatch  skills  shortage  skills  missmatch  skill  investment  education  policy  winner  take  all  business  model  R&D  R&D  underinvestment  austerity  Generationengerechtigkeit  fairness  democracy  secular  stagnation  western  world  job  market  labour  market  poverty  trap  economic  history  UK  USA  Europe  Germany 
april 2016 by asterisk2a
Obama calls for international tax reform amid Panama Papers revelations
"a lot of it is legal" ... they are not poorly designed the laws have been designed by the revolving door of corporate lawyers and lobbyists. // We are not all in this together.
austerity  tax  evasion  tax  amnesty  tax  avoidance  Panama  Papers  G20  G8  tax  loopoles  lobby  revolving  door  Career  Politicians  Party  Funding  barackobama  George  Osborne  IRS  HMRC  white-collar  crime  corporate  governance  accounting  scandal  corporate  scandal  offshore  banking  income  tax  receipts  corporate  tax  rate  fairness  Super  Rich  1%  oligarchy  plutocracy  nasty  Tories  Conservative  Party  Google  Inc.  Westminster  Toff  Privileged  Establishment  No  Representation  democracy  squeezed  middle  class  poverty  trap  Precariat  disenfranchise  disenfranchised 
april 2016 by asterisk2a
Panama Papers (BBC)
links to 72 current or former heads of state [...] dictators looting their own countries [...] helped clients launder money, dodge sanctions & evade tax. [...] never been accused or charged with criminal wrong-doing [...] company is a corporate screen established principally to protect the identity and confidentiality of the ultimate beneficial owner of the company. [...] + Icelandic Prime Minister //&! bbc.in/232EEVN &! How To Insight - bbc.in/1M8Xi6N &! The Guardian - bit.ly/232F3Hz &! Reddit - redd.it/4d8rta &! panamapapers.sueddeutsche.de & live ticker tuesday - bbc.in/23cAl6M &! bbc.in/1TyCuXT - Panama is British Territory as is Cayman Islands et al. //&! Change the rules and close the loopholes! Duh. No need to ask others to stop doing business or change their rules!
Panama  Papers  tax  amnesty  tax  avoidance  tax  evasion  money  laundering  offshore  banking  white-collar  crime  white-collar  fraud  tax  loopoles  HMRC  shareholder  capitalism  shareholder  value  profit  maximisation  profit  maximization  Wall  Street  No  Representation  Career  Politicians  Whistleblower  corruption  bribery  investment  banking  revolving  door  lobby  Greed  GFC  Super  Rich  1%  plutocracy  oligarchy  austerity  budget  deficit  George  Osborne  double  standard  governance  transparancy  accountability  transparency  sanctions 
april 2016 by asterisk2a
Robert Reich on recent development - Tax Amnesty
[ shareholder capitalism ] 2.1trn $$$ parked in offshore banking for USA alone. ... USA x times bigger. ... UK estimate of up to 20bn a year of tax evasion and avoidance. // special deal of 10% tax on repatriation of offshore funds. // this is extortion // no Principles. you either pay your taxes or you are not allowed to do business in this country. // and it is not only cash it is also property and other assets ... companies will undervalue/price their value. not to market rate. see india's tax amnesty and that loophole people and companies exploited - bit.ly/1LjzHjk // >> tax is the price you pay for civilised and modern, western society! << //
tax  evasion  tax  avoidance  HMRC  Google  Amazon  Facebook  Microsoft  Apple  tax  amnesty  lobby  revolving  door  Career  Politicians  budget  deficit  offshore  banking  UK  USA  IRS  lobbyist  lobby  lobbying  presidential  election  2016  barackobama  presidency  austerity  TPP  TTIP  Wall  Street  profit  maximisation  shareholder  value  plutocracy  oligarchy  Super  Rich  1%  No  Representation  crony  capitalism  exploitation  white-collar  crime  shareholder  capitalism  fiduciary  responsibility  Gini  coefficient  inequality 
march 2016 by asterisk2a
BBC iPlayer - Britain's Trillion Pound Island - Inside Cayman
20bn£/year go through tax avoidance (legal through loopholes). = 20bn austerity for next 4-5 years this parliament from 2015. and was around the same from 2010 as Tories came to power forming coalition with lib dems. // who can pay for the lawyer and lobbyist - to implement loopholes. // its the gov that lets make the rules, by lobbyists. // (New Labour) Gordon Brown cut corp tax in his time by 5% and Osborne will have it cut by further 10% points in his two parliament sittings as chancellor. "You can't compete with Zero." << Cayman Islands (no infrastructure and no educated people) - vs. - UK (with infrastructure and educated people, social safety net, pensions). // ultimately, tax laws have to be changed in the local country, not cayman islands.
UK  offshore  banking  tax  avoidance  austerity  fairness  Generationengerechtigkeit  budget  deficit  Wall  Street  shareholder  value  profit  maximisation  lobbyist  lobby  Lobbying  Tories  Conservative  Party  nasty  HMRC  revolving  door  No  Representation  democracy  social  democracy  bank  bailout  GFC  crony  capitalism  capitalism  Greed  budget2015  budget2010  non-dom  Super  Rich  1%  oligarchy  plutocracy  City  of  London  poverty  income  distribution  income  redistribution  inequality  Gini  coefficient  social  mobility  income  mobility  Policy  Makers  Career  Politicians  Westminster  Council  Public  Services  Services  constituency  babyboomers  globalization  globalisation  neoliberalism  neoliberal  tax  evasion  loopholes  welfare  state  social  safety  net  corporate  tax  rate  trickle-down  economics  George  Osborne  David  Cameron  GordonBrown  Labour  Party  borderless  accounting  scandal  white-collar  crime  corporate  scandal  corporate  crime  IMF  OECD 
january 2016 by asterisk2a
Steuererhöhung: Nur für wen? - manager magazin
Cayman Islands, Ireland und Co sind aber nicht teil der G20. Duh. Und wo bitte ist beim sparen der progressive steuer satz? // Nun denkt Schäuble laut darüber nach, die Abgeltungsteuer abzuschaffen. Denn der automatische Informationsabgleich über Auslandskonten in den G20-Staaten rückt immer näher, 2017 soll es soweit sein. Der deutsche Fiskus wüsste also auch über Auslandskonten Bescheid. Erst am Donnerstag vergangener Woche beschloss der Bundestag ein entsprechendes Gesetz. Mit dabei sind mehr als 60 Staaten, darunter auch Luxemburg und die Schweiz. Bei soviel Transparenz wird Steuerhinterziehung schwierig. // Für Steuersünder werden die Verstecke weniger - bit.ly/1I6LteU
Wolfgang  Schäuble  capital  gains  tax  capital  gains  tax  evasion  tax  avoidance  offshore  banking  G20  fairness  Generationengerechtigkeit  income  distribution  income  redistribution  tax  code  inequality  Gini  coefficient  white-collar  crime  investment  banking  Career  Politicians  No  Representation  austerity  Angela  Merkel  neoliberalism  neoliberal  trickle-down  economics 
november 2015 by asterisk2a
US overtakes Caymans and Singapore as haven for assets of super-rich | Politics | The Guardian
But financial secrecy index report notes if UK and affiliated tax havens such as Jersey were treated as one, it would top the list // Netherlands plans to rein in tax avoidance during EU presidency. Dutch finance minister’s comments come after European commission criticised its tax deal with Starbucks as illegal state aid - bit.ly/1HnT8A5
tax  evasion  tax  avoidance  Career  Politicians  presidency  barackobama  George  Osborne  David  Cameron  No  Representation  corporate  scandal  fairness  Generationengerechtigkeit  crony  capitalism  capitalism  Wall  Street  shareholder  value  profit  maximisation  exploration  lobbyist  lobby  Lobbying  accounting  scandal  corporate  tax  rate  corporate  state  Gini  coefficient  inequality  income  distribution  UK  USA  corporate  media  trickle-down  economics  neoliberalism  neoliberal  secular  stagnation  Niall  Ferguson  offshore  banking 
november 2015 by asterisk2a
Hinkley Point nuclear agreement reached - BBC News
More than £30bn worth of deals between the UK and China are expected to be struck during the four-day visit. [...] 'Security concerns' The Hinkley Point project has come under fire over its cost and the delays to investment decisions and the timetable for building. The government has also been criticised for guaranteeing a price of £92.50 per megawatt hour of electricity - more than twice the current cost - for the electricity Hinkley produces. [<< death knell 4 UK consumer & heavy industry! In 10 years as other countries invested in renewables heavily, energy prices will be much higher in UK, a country which did not invest heavily in the Smart Grid & renewables when it was cheap to borrow to fund private public partnerships; 5-10 year mega projects. Bc nasty party is mercenary, not visionary. &! china is deep in renewables. why not renewables!? build smart grid] The Treasury hopes that within 10 years China will be UK second biggest trading partner. //&! Steve Hilton - bbc.in/1krBjLp
Hinkley  Point  C  foreign  investment  China  UK  AIIB  nuclear  power  energy  policy  renewable  energy  energy  price  George  Osborne  nasty  party  Tories  dogma  ideology  corporate  welfare  subsidies  subsidizing  Restrisiko  budget2015  solar  energy  green  energy  wind  energy  offshore  wind  power  David  Cameron  Conservative  Makers  lobbyist  lobby  Lobbying  Wall  Street  shareholder  value  profit  maximisation  Smart  Grid  foreign  direct  investment  foreign  relations  foreign  affairs  foreign  policy  Hegemony  austerity  recovery  sovereign  debt  crisis  trickle-down  economics  underinvestment  productive  investment  ZIRP  NIRP  QE  Richard  Koo  secular  stagnation  Niall  Ferguson  competitiveness  competitive  trade  agreement  free  trade  Steve  Hilton 
october 2015 by asterisk2a
Etsy Taps Secret Irish Tax Haven and Brags About Transparency at Home - Bloomberg Business
Artisan goods marketplace Etsy Inc., which promised to be a beacon for transparency as a public company, recently implemented a strategy that shrouds its offshore tax-cutting arrangements in secrecy. Because of a change in how its Irish subsidiary is registered, Etsy no longer needs to publicly disclose basic financial information about that unit. The classification designates the business in Ireland as an unlimited liability company -- a move that’s been used by corporations such as Google Inc. and LinkedIn Corp., enabling them to conceal how profits are shifted to zero-tax locales such as Bermuda or Isle of Man. Now, more revenue may be routed through Etsy’s Irish subsidiary. Last month, the Brooklyn, New York-based company informed users that anyone outside of the Americas will enter a terms of use agreement with Etsy Ireland, instead of the parent company. These changes may help lower tax bills, Etsy says.
Etsy  corporate  governance  corporate  culture  tax  evasion  tax  avoidance  Wall  Street  profit  maximisation  shareholder  value  crony  capitalism  capitalism  exploitation  offshore  banking  offshore 
august 2015 by asterisk2a
Forget the Verizon-AOL deal. The big wave in tech M&A is just getting started. | PandoDaily
The all-cash AOL deal may drain Verizon’s cash reserves, but consider that Verizon generated $10 billion in operating cash flows last quarter – on top of $113 billion in total debt. [W]hats another $4.4 billion in loans, especially when interest rates are as cheap as they’ve ever been? // &! S&P 500 Companies Spend Almost All Profits on Buybacks - bloom.bg/1ECu06U // &! Companies have been gobbling up their own shares at an exceptional rate. There are good reasons to worry about this [...] The companies in the S&P 500 index bought $500 billion of their own shares in 2013, close to the high reached in the bubble year of 2007, and eating up 33 cents of every dollar of cashflow. [...] [$650 billion of cash overseas] [ leading firms to skimp on long-term investment] [firms are being sensible by restraining investment in the face of economic uncertainty] - econ.st/1t90jry //
M&A  Stock  buyback  productive  investment  underinvestment  GFC  bubble  asset  allocation  Wall  Street  shareholder  value  profit  maximisation  ZIRP  NIRP  QE  2015  speculative  bubbles  speculative  speculation  asset  bubble  equity  bubble  Amazon  Apple  s&p500  recovery  austerity  Western  World  secular  stagnation  hunt  for  yield  compensation  zombie  corporations  zombie  banks  dividends  offshore  Taper  fiscal  policy  monetary  policy  economic  history  long-term  view  long-term  thinking  short-term  thinking  short-term  view  compensation  package  golden  parachute  marginal  cost  economics  of  abundance  Moore's  Law  capital  expenditure  corporate  investment  uncertainty  Europe  USA  Career  Politicians  policy  folly  policy  error  PIGS  infrastructure  investment  business  investment  digital  economy  knowledge  economy  job  creation  Industrial  Revolution  2.0 
may 2015 by asterisk2a
BBC News - Lord Fink accuses Ed Miliband of climbdown over tax claims
"In an interview Lord Fink gave to the Evening Standard, in which the former Conservative Party treasurer says the definition of avoiding tax is so broad that "everyone does it"." ... Yeah right! As much as every grown man on a children's playground is a paedophile. ( http://www.bbc.co.uk/news/uk-politics-31438865 ) // Remember "we are all in this together." &! &! "HSBC Tax Dodgers - Why Are MPs In Bed With Them? Russell Brand The Trews (E255)" youtu.be/rWKqsQ-j-rw - HRMC/Inland Revenue negotiates deals with tax dodgers / - no criminal prosecution vs. benefit cheat prosecution that makes headlines across all papers. // we are not all in it together &! &! Tax inspectors failed to prosecute a wealthy tax cheat who did not submit returns or pay any tax for 24 years, documents seen by BBC Panorama show. - bbc.co.uk/news/uk-31459067 &! &! youtu.be/iAsyu3LMWQg 1 prosecution out of 1100 cases
No  Representation  UK  toff  Establishment  Privileged  tax  avoidance  Career  Politicians  Super  Rich  1%  austerity  tax  evasion  offshore  banking  class  warfare  Labour  Party  Conservative  Party  Tories  GFC  Gini  coefficient  social  mobility  income  mobility  downward  mobility  democracy  inequality  income  inequality  ethical  machine  Political  Governance  economic  history  history  general  election  2015  Inland  Revenue  HMCR  hypocrisy  fairness  George  Osborne  David  Cameron  Ed  Milliband  election  campaign  promises 
february 2015 by asterisk2a
BBC News - HSBC scandal shows 'dilly dallying' on tax crackdown
it is a case study of a much wider problem of governments not cracking down with enough urgency on dodged tax, and a useful lesson on the short arm of international law. John Christensen, executive director of Tax Justice Network, says HSBC was not alone in assisting rich clients in paying less tax. "It's one among a lot of very big players," he says. The problem for those collecting tax is one of information exchange, he says. The UK and other governments have been "dilly dallying" on this front, he adds. &! &! &! The UK's tax office has said it was prevented by an international agreement from sharing information about HSBC's possible involvement in tax evasion. - http://www.bbc.co.uk/news/business-31359962 &! Day after >> http://www.bbc.co.uk/news/uk-politics-31412434 &! http://www.theguardian.com/business/2015/feb/11/hsbc-files-show-tories-raised-over-5m-from-hsbc-swiss-account-holders &! bbc.in/1AbH2vc &! bit.ly/1zNzoVE
tax  avoidance  tax  evasion  No  Representation  Career  Politicians  Lobbying  lobbyist  lobby  revolving  door  democracy  fairness  1%  Super  Rich  exploitation  Wall  Street  profit  maximisation  shareholder  value  corporate  governance  corporate  culture  crony  capitalism  UK  USA  Switzerland  offshore  banking  TTIP  loopholes  ethical  machine  GFC  banking  crisis  trust  trustagent  confidence  toobigtofail  TBTF  too  big  to  jail 
february 2015 by asterisk2a
G20-Gipfel in Brisbane: Die wichtigsten Beschlüsse - SPIEGEL ONLINE
Wachstum: Mit einer Art Fünfjahresplan wollen die Staatenlenker die Wirtschaft ankurbeln. [...] Steuertricks: Beim Versuch, Steuerschlupflöcher für internationale Konzerne zu schließen, kommen die G20 nur langsam voran. Sie billigten zwar den ersten Teil eines Aktionsplans, mit dem Vermeidungsstrategien der Konzerne ein Riegel vorgeschoben werden soll. Ein Vorstoß von EU-Kommissionspräsident Jean-Claude Juncker, rasch einen automatischen Austausch über die Praktiken zwischen Staaten festzuschreiben, lief beim Gipfel aber ins Leere. Frühestens 2017 oder sogar erst Ende 2018 soll in den führenden Wirtschaftsnationen eine solche Vereinbarung greifen.
G20  tax  evasion  tax  avoidance  No  Representation  Career  Politicians  Lobbying  lobbyist  lobby  recovery  offshore  banking  TTIP 
november 2014 by asterisk2a
Paxman interviews economist Thomas Piketty - Newsnight - YouTube
IT IS ALL A MATTER OF DEGREE. thus you have to marry liberalism & conservatism, throw the junk out. u get liberal-conservatism. The rise of the working poor & squeezed middle class had not been good 4 economic growth & vitality. || +Thomas Piketty on Wealth, Income and Inequality >> watch?v=zytqTSh3oGw || + http://www.huffingtonpost.com/2014/05/01/thomas-piketty-cold-war_n_5247373.html || + http://www.npr.org/2014/05/11/310784652/on-income-inequality-a-french-economist-vs-an-american-capitalist << Edward Conard WRONG! || +++ What the 1% Don't Want You to Know with Paul Krugman - watch?v=QzQYA9Qjsi0 "All men are created equal" NO MORE. 'commanding heights' >> https://www.youtube.com/results?search_query=commanding+heights+documentary + market income inequality vs disposable income inequality http://bit.ly/1ollCVp ... "We live in such an ugliness in America." || Wealth Concentration is a agglomeration of Politica & Public Policy Power. || + Robert Reich >> v=q-rpkZe2OEo || v=heOVJM2JZxI
Thomas  Piketty  economic  history  inequality  income  inequality  income  mobility  social  mobility  Gini  coefficient  gender  inequality  gender  equality  equality  book  extremism  extrem  economics  ethics  moral  beliefs  trickle-down  economics  corporate  governance  governance  democracy  Politics  Career  Politicians  lobby  Lobbying  lobbyist  Political  System  accountability  transparency  income  redistribution  wealth-distribution  transferring-wealth  wealth  distribution  GDP  Super  Rich  property  rights  crony  capitalism  capitalism  working  poor  squeezed  middle  class  middle  class  josephstiglitz  Joseph  Stiglitz  paulkrugman  Paul  Krugman  Robert  Reich  disposable  income  wealth  redistribution  transfering  wealth  social  safety  net  Grundeinkommen  tax  credit  tax  free  income  Unconditional  Basic  UBE  progressive  kalte  Progression  coldprogression  history  trustagent  distrust  trust  confidence  Mobile  Creatives  Mobile  Creative  skill-biased  technological  change  skill  skills  capital  skills  knowledge  worker  White-collar  Blue-collar  taxevasion  taxavoidance  net  wealth  offshore  banking  extreme  concentration  of  wealth  happiness  happiness  index  G  Zero  G20  global  registery  of  financial  assets  corruption  job  creation  on  job  training  job  market  Patrimonialism  patrimonial  capitalism  eureka  wealth  working  inher 
may 2014 by asterisk2a
Bankgeheimnis: Luxemburg will auch Daten von Großkonzernen rausgeben - SPIEGEL ONLINE
Luxemburg macht ernst mit dem Abschied vom Steuerparadies. Das Großherzogtum sei offen dafür, auch Informationen großer Konzerne weiterzugeben, sagte der luxemburgische Finanzminister Luc Frieden der "Financial Times". Die Ankündigung hat es in sich. Denn bislang hatte Luxemburg nur eingewilligt, ab 2015 Informationen zu Zinserträgen von EU-Bürgern an die jeweiligen Heimatbehörden mitzuteilen, damit die Zinserträge "nach den Rechtsvorschriften letzterer Mitgliedstaaten effektiv besteuert werden". Ausländische Firmen, die ihren Sitz in Luxemburg haben, sollten von der Lockerung des Bankgeheimnisses nicht betroffen sein. Nun könnte auch diese Bastion fallen.
offshore  banking  Luxembourg  taxevasion 
april 2013 by asterisk2a
Neue Steuer CD löst bundesweite Razzien aus - SPIEGEL ONLINE
tax evasion becomes less tasty. except you are a fortune 500 company and funnel your money through a dozen of mailbox companies. UK and Germany have deals with Switzerland. More to come.
offshore  banking  CaymanIslands  Cyprus  UK  Germany  taxevasion  Switzerland 
april 2013 by asterisk2a
Cyprus Suspends Probe Into Who Withdrew Money Early | Zero Hedge
In a day full of stunners, we next get news from Cyprus, where a few weeks after the start of the "investigation" into who pulled their cash out of the country's doomed banking system in advance of the confiscation news on March 16 (and where even the current president was implicated in transferring over €20 milion in family money to London) the parliamentary committee tasked with tracking down the leaks, has suspended its probe. >> + http://www.zerohedge.com/news/2013-04-10/here-we-go-cyprus-sell-%E2%82%AC400-million-gold-finance-part-its-bailout http://www.zerohedge.com/news/2013-04-10/europe-extends-confiscatory-non-template-template-interbank-deposits >> + in reality plans continue to push ahead to indeed 'legalize' bail-in template from Cyprus
Politics  deposit  haircut  capital  controls  Europe  haircut  accountability  European  Commission  transparency  Troika  banking  crisis  ECB  Cyprus  bankrun  deposit  levy  bank  crisis  trust  economic  history  PIGS  confidence  Laiki  sovereign  debt  crisis  trustagent  bail-in  offshore  banking  austerity  capital  flight  PIIGS  corruption  of  Cyprus  IMF 
april 2013 by asterisk2a
Steuerparadies: Zypern ist überall - YouTube
- Europe got half a dozen low tax countries, which people with money and corporations use. Europe is one big mess. Tax policy across Europe is one.
Politics  economic  history  Europe  Laiki  Bank  taxevasion  Policy  Error  bail-in  offshore  banking  Troika  banking  crisis  Cyprus  political  folly  Bank  of  Cyprus  crisis  folly 
april 2013 by asterisk2a
Audioboo / What are the implications of the Cyprus deal?
http://www.zerohedge.com/news/2013-03-25/think-tank-cyprus-saved-what-cost Laiki bank will be fully resolved – it will be split into a good bank and bad bank. The good bank will merge with the Bank of Cyprus (which will also take on Laiki’s circa €8bn Emergency Liquidity Assistance – a last-resort funding system outside the usual ECB operations). The bad bank will be wound down over time with all uninsured depositors (over €100,000) taking significant losses (no percentage yet but some could lose all their money above the threshold). >> Germany has made it clear that it is no longer willing to foot the bill for extensive bailouts without the recipient country taking a share of the burden and making some radical changes.
angelamerkel  Wolfgang  Schäuble  Europe  unintended  consequences  taxevasion  European  Commission  Laiki  Bank  sovereign  debt  crisis  bail-in  offshore  banking  Troika  ELA  banking  crisis  ECB  Cyprus  crisis  Bank  of  Cyprus  Germany  democracy  bailout  IMF 
march 2013 by asterisk2a
Over The Past 4 Years News Corp Generated $10.4 Billion In Profits And Received $4.8 Billion In "Taxes" From The IRS | zero hedge
News Corp, which after generating $10.4 billion in profits over the past 4 years, and which would have been expected to pay the IRS $3.6 billion at the statutory corporate tax rate, instead received $4.6 billion back from Uncle Sam. Bottom line: Murdoch's corporation had a cash paid tax rate of -46% between 2007 and 2010. The culrpit: two little somethings called Deferred Tax Assets and Net Operating Loss Carry-forwards.
IRS tax loopholes as deferred tax assets and NOL carryforward? Not entirely.
+ Hundreds of Offshore Accounts.

News Corp. has 152 subsidiaries in tax havens, including 62 in the British Virgin Islands and 33 in the Caymans. only Citigroup and Morgan Stanley have more tax haven subsidiaries than News Corp., a 2009 U.S. Government Accountability Office study found.

However, in the interest of objectivity, News Corp. is merely one of many corporate transgressors who take full advantage of the massive loopholes in America's tax code.
USA  taxation  taxevasion  corporate  tax  newscorp  rupertmurdoch  offshore  IRS  barackobama  presidency  2011  fraud 
july 2011 by asterisk2a
UK Treasury unveils avoidance reforms
tax rate for offshore financing operations will be cut to 5.75 per cent on profits from intra-group financing by 2014, or possibly even exempted altogether.

FT verdict This consultation is the culmination of four years of intense lobbying by business and represents a big shift towards a more business-friendly tax system. But the policy change has been the result of painstaking deliberations under both Labour and coalition governments. The changes are justified because they reflect the reality of the international character of multinationals and intensifying tax competition from smaller states.

What do critics say? The government has caved in to big business by announcing a big relaxation of their anti-avoidance rules.

What do supporters say? The new rules will form a cornerstone of the government’s ambition to have the most competitive tax system in the G20.
uk  budget  2011  taxation  corporate  corporation  offshore  tax 
june 2011 by asterisk2a

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