Speaking this week at the Federal Reserve Bank of New York, IMF Chief Christine LaGarde, shone a light on the breakdown in global banking relationships, warning that that de-risking is not a localised problem because of its potential to create systemic risks in the global financial system.In their June report the IMF warned that the… More LaGarde: FinTech, Like BlockChain, Possible Solution for De-Risking.
(Christine Legarde (Managing Director , IMF) In the shadow of the Panama Papers the EU has reached agreement on the sharing of beneficial ownership information related to trusts and companies. Following UK Prime Minister, David Cameron’s commitment at the end of the G8 Summit in 2008 to create a UK beneficial ownership register that would be ‘public’;… More Lukewarm Response to EU Beneficial Ownership Register Agreement.
“PM Cameron also ruled out blacklisting countries on the basis that they were zero- or very low-tax jurisdictions.” “Asked about blacklisting tax havens, the PM said: “We’re happy to support blacklists but we don’t think we should draw up a blacklist solely on the basis of a territory raising a low tax rate – we don’t… More Why For My Money, UK PM Cameron is the World’s Top International Tax Diplomat.
The Q&A with me on Page 9 which covers the issues which have been brought into sharp focus by the theft of the ‘Panama Papers’ is set out below: IFC: As more IFCs sign up to FATCA & the OECD’s Automatic Exchange of Information Standard, do you see a fundamental shift in policy happening in the… More The Movement of Wealth, Transparency, the Right to Privacy…and More
US President Obama and Russian President Putin share a coffee. Amid the revelations by Russian President Vladimir Putin about the financiers of global terror, the Group of Twenty spared some time to agree the way forward in the area of international tax diplomacy. Here is what they agreed: 1.To reach a globally fair and modern… More The G-20 Antalya Summit and BEPS.
IMF Managing Director, Christine Lagarde If you’re more than a bit surprised to read about the IMF’s new found interest in the global debate on tax evasion, aggressive tax planning, fair taxation and excessive profits shifting, that probably means you haven’t read this. This month’s new public consultation launched by the IMF on March 3,… More The IMF Wants Your Views on Tax Evasion.
(IMF Chief Christine Lagarde) Speaking at the end of the G20’s first meeting of 2014, Christine Lagarde, former French Finance Minister and now IMF chief backed OECD plans which would allow countries to ignore inter-company contracts aimed at channelling profits into tax havens. She acknowledged that “governments have to invent new concepts just as quickly and as… More IMF Chief Wants Radical Rethink of International Tax Arrangements