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Tax Emerges as Crucial Issue in Post-2015 Development Talks


World  (tags: world, usa, unitednations, UnitedNations, society, politics, 'HUMANRIGHTS!', africa, asia, conflict, corruption, ethics, europe, government, GoodNews, media )

JL
- 511 days ago - guardian.co.uk
Members of the UN high-level panel meet in Bali this week. Tax evasion is expected to feature in the discussions



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Comments

JL A. (275)
Tuesday March 26, 2013, 9:35 am
Copywritten article available at the site
 

Kit B. (277)
Tuesday March 26, 2013, 1:22 pm

Sorry, but one pay attention to who gets invited or any cut of the global pie at these NGO talks, the poor countries are always left standing with more debt and a few unfulfilled promises. Bali also has another serious problem, most their water supply is now toxic. Too much development and no planning.
 

Kit B. (277)
Tuesday March 26, 2013, 1:23 pm

*anyone paying attention* ( correction)
 

JL A. (275)
Tuesday March 26, 2013, 1:38 pm
Excellent points Kit, which makes it all the more notable that tax avoidance actually gets mentioned!You cannot currently send a star to Kit because you have done so within the last day.
 

Angelika R. (146)
Tuesday March 26, 2013, 7:48 pm
Every country must implement laws that FORCE caught and convicted tax evaders behind bars, no more fines!
 

JL A. (275)
Tuesday March 26, 2013, 8:50 pm
Sounds like an effective solution Angelika! You cannot currently send a star to Angelika because you have done so within the last day.
 

Robert O. (12)
Wednesday March 27, 2013, 8:33 pm
Thanks JL.
 

JL A. (275)
Wednesday March 27, 2013, 9:35 pm
You are welcome Robert
 

Birgit W. (144)
Thursday March 28, 2013, 1:49 pm
Noted
 

Lynn Squance (230)
Thursday March 28, 2013, 10:00 pm
"The NGO ActionAid, which has been pushing for changes in international rules that hamper tax collection in developing and developed countries, said what is needed are international tax agreements that safeguard developing countries' taxing rights, help reduce tax competition between different countries, and shed light on tax havens and the tax operations of multinational companies."

Very interesting. In a thread in Causes early this week, I made mention of the need to act on tax havens globally.

http://www.care2.com/causes/hey-corporations-its-time-to-stop-avoiding-taxes.html

Look at what is happening in Cyprus right now --- a tax haven, especially for the Russians. The total of their debt (in banking, a client's deposit account is a liability or debt) far exceeds their GDP which makes paying back that "debt" to its clients is impossible.

This is not just an American problem, but a global problem. Here is a list of sovereign and non-sovereign tax havens as noted in Wikipedia:
Bahamas
Cyprus
Liechtenstein
Luxembourg
Monaco
Panama
San Marino
Seychelles

Non-sovereign jurisdictions commonly labelled as tax havens include:
Campione d'Italia, Italy
Jebel Ali Free Zone, United Arab Emirates
Labuan, Malaysia
Curaçao (Netherlands)
Bermuda (United Kingdom)
British Virgin Islands (United Kingdom)
Cayman Islands (United Kingdom)
Jersey (United Kingdom)
Guernsey (United Kingdom)
Isle of Man (United Kingdom)
Turks and Caicos Islands (United Kingdom)
Alaska, United States
Delaware, United States
Florida, United States
Nevada, United States
Texas, United States
South Dakota, United States
United States Virgin Islands (United States)
Wyoming, United States
Washington, United States.

It is an interesting article so here's the link: http://en.wikipedia.org/wiki/Tax_havens

Personally, I think a global approach to tax havens is needed, but in the US, start by addressing those states that by definition, are tax havens.


This meeting in Bali would be an excellent place to start to identify some strategies to do away with tax havens and establish international protocols to avoid double taxation etc. This would, in my opinion create more sustainable revenue flows for all countries, and it would get rid of the hassles as is seen between Switzerland and the US.

Hopefully, with this, the incidences of tax avoidance and tax evasion would be substantially reduced. But anyone caught evading tax should be soundly thrashed --- penalties and jail time for CEOs, Board Chairs etc.
 

JL A. (275)
Friday March 29, 2013, 9:18 am
Thanks for deepening our understanding of this issue Lynn. You cannot currently send a star to Lynn because you have done so within the last day.
 
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