Tax havens and corruption: Lebedev and TJN in the NYT

   1   0 Blog, Corruption, Enablers and intermediaries, Human Rights, Secrecy

LebedevFrom Alexander Lebedev in the New York Times:

“According to the Tax Justice Network, an independent group promoting efforts to curb tax avoidance, crooked business people, working with corrupt officials, have embezzled $30 trillion over the last 15 years — or half of the world’s annual gross domestic product.”

It’s a great article overall, and we’re delighted to be quoted. We would, however, quibble here with the word ’embezzled’ – at least if it’s being used in the traditional sense of the term. Our research shows that up to $32 trillion is sitting, untaxed or hardly untaxed, offshore. This money is substantially not, in the traditional sense of the term, ’embezzled’ – though if you were to take a very broad meaning of that word, one could certainly take a view that this is what we are talking about.

In fact, we have a strong view that the offshore system is corrupting the global economy, and that it is high time to bring corruption more closely into the debate about tax havens.

Read about the links between offshore and corruption here.

Lebedev, a former KGB officer and Russian oligarch, who owns newspapers in the UK, will certainly know of what he speaks. Among many other things:

“Many of the perpetrators of these scams have been able to move abroad, where they draw upon the expertise of what I term the “financial services oligarchy” of international banks, law firms and accountants to ensure they can continue to live off the proceeds of their crimes. Some, like Andrei Borodin, former chief executive of Bank of Moscow, have been granted political asylum (Mr. Borodin, in Britain).”

Now read on.


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 →

One thought on “Tax havens and corruption: Lebedev and TJN in the NYT

  1. mike says:

    LEBEDEV TAX OVER ‘INDEPENDENT’THEN HIS PAPER SUPPORTS THE PARTY LEAST LIKELY TO CURB TAX AVOIDANCE AND EVASION TURNS FROM AN INDEPENDENT PAPER TO ONE THAT SUPPORTS THE TORIES

Leave a Reply

Your email address will not be published.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

Back to Top