Published on March 11, 2014
Illicit capital flight and tax havens Attacs landsmøte, 2. mars 2014 Sigrid Klæboe Jacobsen
About us Tax Justice Network A network of researchers, tax professionals, politicians, journalists, aid organisations, youth organisations Part of a the Global Alliance for Tax Justice - 280 organisations world wide
Illicit capital flight from developing countries $700 bn Crime $30 bnCorruption Commercial activity Source: Global Financial Integrity $331 bn
Marta Luttgrodt Local impact
Financial Secrecy Index
217.000 companies 1209 Orange Street, Delaware, USA
Methods to dodge tax Transfer pricing Trusts «Check the box»
Kilde: «Piping Profits» – Publish What You Pay
Investments through tax havens 50% Business investments to developing countries passing through tax havens
«The secret to success is to own nothing, but control everything» - Nelson Rockefeller, former vice president of the USA «I own nothing» - John Fredriksen, Norways richest man
Measures for more transparency Open companies Country-by-country reporting Open countries Automatic exchange of information Open ownerships Beneficial ownership registries
«Nevertheless, the best of intentions may not mix well with national and global tax systems that are increasingly outdated. An overhaul is needed. The place to start is with a robust and frank assessment of whether current tax systems are still fit for purpose. And the simple answer is that they aren’t, because they were created for a world very different from today’s.» “The world has moved on. Tax systems need to do the same – and soon.» PwC, Global Annual Review 2013
New research needed
Kilder på nett Piping profits Ti av verdens største olje- og utvinningsselskaper eier over 6000 datterselskaper. Over en tredjedel av datterselskapene er i skatteparadis. Tre norske selskaper er vurdert. Søkbar database: http://www.publishwhatyoupay.no/en/piping-profits Offshore leaks: http://www.icij.org/offshore Financial Secrecy Index Hvert enkelt land vurdert etter 16 faktorer av hemmelighold. Landrapporter til 82 ulike land. http://www.financialsecrecyindex.com/introduction/fsi-2013- results Nøkkeltall – www.taxjustice.no Nøkkeltall med referanser http://taxjustice.no/ressurser/tall
New «app»: moneytrail.no Thank you for your time! Sigrid Klæboe Jacobsen Director Tlf. + 47 46861189 firstname.lastname@example.org www.taxjustice.no
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Capital Flight, Illicit Flows. Capital flight is hard to define precisely. ... which are foundational for our understanding of what tax havens or secrecy ...
Capital Flight and Tax Havens: Impact on Investment and ... of capital flight and tax havens for ... and concealment of illicit capital.
Tax Havens and Capital Flight ... Comment on Léonce Ndikumana’s “Capital Flight and Tax Havens: ... The impact of illicit capital flight on ...
Capital flight, in economics, occurs ... Tax exporting; Capital strike; Illicit financial flows; References ^ Shafik Hebous (2011) "Money at the Docks of ...
Tackling Dirty Money: Illicit Capital Flight and Tax Evasion ... based in tax havens, encourage and facilitate the capital flight process and tax
... government-appointed commission proposes a number of measures to reduce the adverse effects of tax havens. The Commission on Capital Flight from ...
Capital Flight and its impact ... referred to as illicit capital flight, ... Tax havens are jurisdictions that use secrecy and low tax rates as a ...
... in offshore and onshore tax havens, ... capital flight and measures to curb the illicit ... try to prevent capital flight and resulting tax ...
The Financial Secrecy Index ranks jurisdictions according to ... tax havens or secrecy jurisdictions, and illicit financial flows or capital flight. ...