The February Taxcast: Bahamas and more

   0   0 Blog

In the February 2014 Taxcast: Are European tax havens getting ‘illegal state subsidies’? The European Union’s Competition Commissioner thinks they may be. Are the world’s tax havens really going to become more transparent? We analyse the OECD’s automatic information exchange proposal, warts and all. And the tax haven of the Bahamas is broke – the government’s solution? Tax the poor! We look at the Bahamian campaign against a Value Added Tax (VAT) and their demands for a freedom of information act.

We will quote at length Deran Thompson of Citizens for a Better Bahamas:

“The cost of living will go up drastically if VAT were introduced in the national assembly
. . . .
The information that has come out now is that the financial industry: it is going to be exempt; there is a large possibility that they will not have to pay VAT – and that they will not be charging their clients VAT. That would be incredible to us.

You are looking for all these millions of dollars to get our deficits and debt lowered, but you are going to exempt or zero-rate the entire financial industry! The question becomes now: who is going have to to cover that lost revenue that you would have gotten from the financial industry?
. . .
We see all the tax breaks they get, we see all the concessions they get, and the massive amounts of profits that they make: we ask ourselves the question as the every day citizens of this country – how is it that these corporations are making so much money but at the same time getting such concessions – then on top of that not paying their share?’

The Taxcast also features Nick Shaxson of the Tax Justice Network and author of the book ‘Treasure Islands’; tax justice campaigner Richard Murphy, Deran Thompson of Citizens for a Better Bahamas; concerned Bahamian Scott Griffin, and a protest track ‘No VAT Tax’ by Mr J. (Full video and track available here )

Youtube link here.

Libsyn url here.


Related Posts

The Offshore Wrapper: the Panama Papers, one year on

Photos from the Protest outside PwC 1 Embankment Place, part of the Global week of action for tax justiceWelcome to the Offshore Wrapper – your weekly update from TJN.  Happy Paniversary! This week it’s been one year since the Panama Papers were leaked, and a number of organisations around the world have been marking the occasion though the global week of action for tax justice. In London, activists from the TJN and the […]

READ MORE →

Protesting PwC: Professionals Without Conscience

Photos from the Protest outside PwC 1 Embankment Place, part of the Global week of action for tax justiceThis week is the global week of action for tax justice and on Wednesday 5th April activists from the Tax Justice Network and Methodists for Tax Justice held a protest outside the London offices of Price Waterhouse Coopers. The global week of action for tax justice is happening one year after the release of the […]

READ MORE →

Germany moves forward on corporate transparency

ReichstagThe Bundesrat has today voted to recommend implementing a public register of the beneficial ownership of companies and trusts.  Great news from Germany, as the country takes an important step forward towards corporate transparency.

READ MORE →

New estimates reveal the extent of tax avoidance by multinationals

Price Waterhouse CoopersNew figures published today by the Tax Justice Network provide a country-level breakdown of the estimated tax losses to profit shifting by multinational companies. Applying a methodology developed by researchers at the International Monetary Fund to an improved dataset, the results indicate global losses of around $500 billion a year. The figures appear in a […]

READ MORE →

Banking Secrecy in China, its related territories and Taiwan

Hong Kong from Sky 100Foreword. The Tax Justice Network is a non partisan network of experts working towards transparency, so we do not take any position about countries’ territorial and political claims. However, we do expect countries with a de jure (legal) or de facto (in practice) influence over other territories, to take responsibility for their power. We point […]

READ MORE →

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top