(Photo: Guardian ) The G20 Leaders Summit took place from September 4-5 in Hangzhou, China. Here is what they agreed on international tax reform. 19. We will continue our support for international tax cooperation to achieve a globally fair and modern international tax system and to foster growth, including advancing on-going cooperation on base erosion … More The Tax-Related Aspects of the G20 Leaders’ Communique Hangzhou Summit
FRANHENDY ATTORNEYS WEEKLY REPORT TAX Is Africa now being carved up by a complicated web of offshore accounts, tax havens and tricky paper trails? New research seems to suggest this is exactly what’s going on. Offshore companies connected to 44 of Africa’s 54 countries disturbingly appear in the Panama Papers leak. Over 1,400 companies in the … More What You May Have Missed This Week…
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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