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PRESS RELEASE Brussels misses opportunity to crack down on tax evasion and corruption

5 February 2013 The European Commission’s new draft legislation for how to crack down on financial crime, published today, misses an opportunity to make it much harder for tax evaders, mobsters, arms dealers and corrupt politicians to use Europe’s financial system to launder their dirty money.   There are two main loopholes in the proposed legislation, around transparency of company ownership and around tax evasion which campaigners want the European Parliament and national governments to ...
By Bodo Ellmers The latest statistics shed light on the new composition of developing countries’ debt. The share of private debt in developing countries’ total external debt is ever increasing and may by now have exceeded the public share. On both ...
Compiled by Eurodad with input from CCFD-Terre Solidaire, SOMO, TJN Europe and Alliance Sud December 2012 On 06 12 2012 the EC released its Action Plan to strengthen the fight against tax fraud and tax evasion. DG Taxud simultaneously published two ...

PRESS RELEASE EU clampdown on tax avoidance to release hidden billions to fight poverty

BRUSSELS 06 12 2012: International development agency Oxfam and the European Network on Debt and Development (Eurodad) welcome the European Commission’s initiative to step up action against tax fraud and tax evasion, which cost billions in tax revenues in Europe but also in developing countries. Oxfam and Eurodad are calling on Member States to follow the lead of the European Commission and agree on a common set of measures to counter harmful tax practices, such as corporate trade mispricing, ...

EC Reciprocity proposal: a sinking ship

Alex Marriage

04 Oct 2012 16:26:31

By Jeroen Kwakkenbos  Any discussion of trade, whether over general principles or of technical issues, brings to my mind images of fleets of ocean greyhounds following the trade winds to greener pastures and more exotic locales. This is particularly true concerning the current discussion surrounding the reciprocity regulation put forward by the European Commission (EC), to be exact it makes me think of the expedition of Commodore Mathew C. Perry into Uraga in 1853. But more on that later. Reciprocity, though it sounds like a legal thriller purchased in an airport bookstore, is an attempt by the European Commission to force non-EU countries to open their public procurement markets. The target countries of this regulation would appear to be China, Japan, and other major trading partners, but ...

Bias to report: World Bank releases new Global Financial Development tome

Alex Marriage

04 Oct 2012 16:12:38

By Jesse Griffiths Normally, I enjoy reading flagship annual reports from august international institutions; they can provide useful overviews and normally have one or two nuggets. The World Bank’s new Global Financial Development Report 2013, however, left me hoping they don’t issue any more of these. Not just because we already have enough flagships – even for a report junky like me.  It’s worth quoting from the comprehensive study of World Bank research undertaken by a team of (self-styled) ‘academic superstars’ led by Princeton Professor Angus Deaton: “The large number of flagship reports makes it virtually impossible for [World Bank] management to exert sufficient quality control precisely where it is most needed.” “We believe that the Bank produces too many of these ...