If London’s banks lose their financial services passport, Ireland may be the biggest winner if relocation decisions are based on where these banks maintain subsidiaries. This is the thinking behind a confidential internal note prepared by Deusthe bank for its July 5 board meeting. According Deusthe, their competitors would most likely relocate their operations to… More Will London’s Bankers Give Up Their Swanky London Post-codes?
“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.
(Image:www.defenders.ca) Ireland is not a tax haven and has never been one! So says the secretary-general of the Organization for Economic Co-operation and Development (OECD), Dr Angel Gurria. Seriously??!! Dr Gurria was responding to an announcement made in Brussels that investigations into the tax systems of Ireland, the Netherlands and Luxembourg are to be carried… More Ireland Has Friends in High Places!
Asking what is a tax haven is like asking how to lose stubborn belly fat; because the answer depends on what the person you are asking, is selling. If you watch what I call ‘Fat/Fit’ TV on your local cable network, you’ll know that if you want to lose your gut there dozens of ways you can… More What is a Tax Haven? It Depends.
(New York Representative Charles B. Rangel, Member of the US Ways and Means Committee) Yesterday, as part of their continuing work on comprehensive US tax reform, the Ways and Means Committee of the US Congress convened a hearing on the use of tax havens by U.S. and foreign multinational corporations to avoid tax; shift profits outside the… More 5 Point Summary of OECD’s Testimony at Yesterday’s US Congress Hearing on Tax Havens.
..and frankly there is nothing wrong with that. Forgetting for the moment, and yes I know it is near impossible, strictly speaking, if according to the research findings of Professor James Stewart, from Dublin’s Trinity college, companies in Ireland paid tax of 4.2% on more than $100bn of net profits in 2008, that, I am… More Ireland Admit It…You Are a Tax Haven.
President Obama used ‘corporate inversions’ as the poster child for his Presidential campaign promising to outlaw the practice and in the process gave a number of legitimate Caribbean Offshore Financial Centres (OFCs) a lot of unnecessary grief. Branded as immoral and unpatriotic, his proposals to prevent companies who purport to move their corporate headquarters offshore from claiming… More US Corporate Inversions: Alive and Well in Ireland.