According to Mediapart the French government is under fire, again, this time over its decision to remove both Bermuda and Jersey from its blacklist of uncooperative tax havens. Senior members of the government, including foreign affairs minister Laurent Fabius, are reported to be opposed to their removal. Mediapart reports that Fabius has advised finance minister Pierre Moscovici that these removals are “not politically opportune.”
Internet companies are running rings around our governments, free-riding on the backs of ordinary taxpayers and reaping large fortunes for relatively small numbers of well-connected insiders, some of them rich enough to buy entire global newspapers with their pocket change, and thus potentially influence us all.
Written for TJN by someone with long experience of the Bahamas.
The Bahamas is a stunningly beautiful archipelago of more than 700 islands, cays and islets, a proud nation populated with vibrant, passionate, good-hearted people. The economy of this small island state, ranked at 35th position on the 2013 Financial Secrecy Index and assessed towards the top end of the secrecy scale, is heavily reliant on the offshore financial services industry; the Bahamas is in the throes of the Finance Curse, as a captured state.
Our new website will bring you a weekly round-up of tax justice news: our personal selection from a wide array of stories about tax justice, A Week in Tax Justice will be sent out to all TJN subscribers and will soon also be available on our App, which we’ll be bringing out in the next month or so.
Here is the inaugural public edition of A Week in Tax Justice. Enjoy!
Welcome to the new Tax Justice Network website, with integrated blog.
From the Treasure Islands blog:
I’ve just had an email from Stuart Syvret, a dissident former health minister in the British tax haven of Jersey, who has just got out of prison after challenging the island’s financially-dominated oligarchy. The email was in his characteristically forthright style:
“I and many of my former constituents have had our human rights monstrously abused in Jersey by corrupt Crown Officer holders.
A while ago we wrote about this reprehensible item from world football’s governing body FIFA. This Tax Bubble that FIFA created around the South African world cup – despite FIFA’s being a gargantuan, unaccountable billionaire monopolist based in Switzerland – was a particularly shameful example of their anti-democratic rent-seeking behaviour.
And they are going to do it again and again.
Now the Public Eye Awards, which draw attention to particularly egregious corporate misbehaviour, have sent us this.
The time is now: European Parliament to vote on the Anti-Money Laundering Directive Eurodad
See also: Member states split on proposed transparency for trusts legislation IFC Review / European Voice