Global Issues News Headlines for “Tax Avoidance and Tax Havens; Undermining Democracy”

AFRICA: Emerging Trend Towards Establishing Offshore Tax Havens

2011-08-17T10:48:00-07:00

As several African governments examine the possibility of setting up their own 'offshore' financial centres, the trade name for tax havens, campaigners are calling for transparency and fair tax regimes.

Read the full story, “AFRICA: Emerging Trend Towards Establishing Offshore Tax Havens”, on globalissues.org →

Middle East Fast Bleeding Money

2011-01-21T00:00:00-08:00

Middle East countries have seen the largest increase of illicit outflows of funds to richer nations, depriving the developing nations of much needed development money, a new international report shows.

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COLOMBIA: Drug Trade's Hold on Football Persists

2010-06-22T00:00:00-07:00

Football, the most popular sport in Colombia, has been subject to heavy pressures from drug trafficking since the mid-1970s. A new study shows that the illicit trade continues to tarnish the upper echelons of this sport.

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FINANCE: Ecuador Wants Off the Money-Laundering List

2010-05-20T00:00:00-07:00

'It sounds incredible, but it's just a matter of a letter that wasn't turned in on time,' Ecuador's attorney general said in regards to the Financial Action Task Force decision to qualify the country as 'posing a risk to the international financial system.'

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EUROPE: Tax Evasion Rampant Despite Treaties With Tax Havens

2010-02-23T00:00:00-08:00

New cases of tax evasion in several European countries are showing the limits of the informal agreements reached between the Organisation for Economic Cooperation and Development (OECD) and tax havens such as Switzerland, Luxembourg and Liechtenstein.

Read the full story, “EUROPE: Tax Evasion Rampant Despite Treaties With Tax Havens”, on globalissues.org →

ECONOMY: Government Failures Feeding Next Financial Bubble

2009-11-24T00:00:00-08:00

Numerous failures by industrialised countries’ governments and central banks in managing the financial crisis are feeding the next bubble, which most likely will again provoke economic woes such as recession, unemployment, and poverty, according to economists and analysts.

Read the full story, “ECONOMY: Government Failures Feeding Next Financial Bubble”, on globalissues.org →

Q&A: 'Political Elites Ensure Continuing Flight of Dirty Money'

2009-09-16T00:00:00-07:00

Illegal capital flight in the form of corrupt, criminal and illicit commercial proceeds out of developing economies could be as high as one trillion dollars a year. Not only does it dwarf the 50 billion dollars in development assistance that rich countries disburse annually but it is largely facilitated by the western financial system of tax havens and secrecy jurisdictions.

Read the full story, “Q&A: 'Political Elites Ensure Continuing Flight of Dirty Money'”, on globalissues.org →

LATIN AMERICA: Investigative Journalists Show Their Mettle

2009-08-24T00:00:00-07:00

'One way of ensuring the future of journalism is to improve content quality, and this means investigating what is deliberately hidden, like corruption,' said Gerardo Reyes, a reporter for the Miami newspaper El Nuevo Herald, on a visit to the Peruvian capital.

Read the full story, “LATIN AMERICA: Investigative Journalists Show Their Mettle”, on globalissues.org →

VENEZUELA: Drug Trafficking Getting Worse, Says U.S. Report

2009-07-20T00:00:00-07:00

Governmental corruption and the refusal to cooperate with U.S. counter-drug efforts are worsening a ballooning drug trafficking problem in Venezuela, according to a new report by the investigative office of the U.S. Congress.

Read the full story, “VENEZUELA: Drug Trafficking Getting Worse, Says U.S. Report”, on globalissues.org →

Q&A: Tax Havens, Bank Secrecy, and Tricks

2009-07-14T00:00:00-07:00

At a recent conference in Miami organised by Offshore Alert, a specialised media organisation focused on financial crime, IPS correspondent Lucy Komisar sat down with veteran investigator Bob Roach to discuss the hurdles facing regulators trying to crack down on tax havens, which cost the U.S. alone an estimated 100 billion dollars annually.

Read the full story, “Q&A: Tax Havens, Bank Secrecy, and Tricks”, on globalissues.org →