Tax haven USA wants to dry up other tax havens (tags)
Two US states lure with particularly lax laws for companies. Constructions such as mailbox companies, which help to conceal the true owners of companies, are flourishing. The American government can certainly be accused of double standards in this matter:
State pays Corona aid to tax tricksters (tags)
Thousands of companies want help from the state during the Corona crisis. The state of their tax morale is not under scrutiny. In the US, billionaires gained an additional $308 billion from 1990 to 2020 while their tax obligations decreased 79%.
New Senate Bill Combats Shell Companies United Nations Debates Tax Havens (tags)
Washington DC - A bipartisan group of Senators introduced the "Improving Laundering Laws and Increasing Comprehensive Information Tracking of Criminal Activity in Shell Holdings (ILLICIT CASH) Act" to stop the creation of shell corporations in the United States.
The Struggle against Aggressive Tax Avoidance (tags)
Experts estimate a fifth of world wealth is hidden from the tax authorities of states and considerable parts of international corporate profits are not taxed. Google and Amazon parked billions in shadow financial centers. Tax avoidance makes a functioning state impossible
The Driving Force of Global Inequality (tags)
Behind closed doors, a powerful industry has developed worldwide since the 1980s: tax avoidance. Taxes that are avoided must be compensated by higher taxation of households with lower incomes.
Five myths about tax havens (tags)
When tax havens assist kleptocratic elites in hiding their cash with impunity, they don’t guard against corruption and despotism — they help perpetuate them. Tax havens provide an escape route from laws that is available only to a rich minority that can afford to use it...
Tax Havens: Threat for Public Budgets (tags)
The common good is abused. The struggle against tax havens is a struggle for the rule of law and democracy. Apple, Google, Amazon, Boeing and GE shift tens of billions to tax havens. According to a 2013 article, one building in Delaware has 285,000 mailbox firms.
Tax Flight, Tax Avoidance and the Contribution of the Rich to Society (tags)
Multinational businesses cause the greatest losses through tax flight and tax avoidance. Between $21 and $32 trillion are invested in tax havens. Tax flight is a problem for democracy. Without tax revenues, politics renounces on creative possibilities.
Offshore Shell Games 2014, 56 pp (tags)
Ugland House is a modest five-story office building in the Cayman Islands, yet it is the registered address for 18,857 companies. The Cayman Islands, like many other offshore tax havens, levies no income taxes on companies incorporated there.
Representatives Doggett and DeLauro Introduce Legislation to End Sequestration and Corpora (tags)
Rep Doggett introduced a replacement to the sequester today which would make it harder for corporations to use tax havens.
It’s not only jobs that are off-shored; the profits are as well (tags)
Trillions of dollars are hidden in secretive tax havens untaxed while austerity is imposed and jobs are lost.
The Tax System is Out of Control (tags)
Citi-group and Bank of America operate many branch offices in tax havens. The use of tax havens deprives the state of $100 billion annually. "These tax havens accelerate the transfer of assets from local communities and the global South to the bank accounts of the richest..."
Video: Tax Havens and the Men Who Stole the World (tags)
The financial crisis mutates into a worldwide economic crisis. Corporate fraud, regulatory failure and expansion of the financial sector lead to atrophy of public spirit. Harry Hopkins and FDR created 4 million jobs in 2 months. Work must be redefined and shared.
Trillions down the drain (tags)
The truth will make some of us free. Savvy businessmen with their financial productions and financial innovations brought the world economy to the brink of collapse. Closing tax havens and shadow banking, redistribution from top to bottom and food security would help restore trust.
Greed, the Corrupt System and Shadow Banking (tags)
A sudden change of thought patterns has occurred. For thirty years, the dogmas were in effect: trust in the self-healing powers of the market, the sleek state is the best of all possible states and economic policy will be unnecessary if the central banks fights inflation.
Attac Catalogue for Democratizing the Financial Markets (tags)
The financial industry contributed over $5 billion in the last year in campaign gifts and lobbying to ensure that Wall Street oligarchs have their way in the media and congress. Attac is a global justice network committed to shriveling the financial markets.