Donald Trump, president and chief executive of Trump Organization Inc., speaks while announcing he will seek the 2016 Republican presidential nomination at Trump Tower in New York, U.S., on Tuesday, June 16, 2015. Billionaire television personality and business executive Donald Trump formally began his Republican presidential campaign today in Manhattan, saying that the United States has become “a dumping ground for other people’s problems.” Photographer: Victor J. Blue/Bloomberg *** Local Caption *** Donald Trump
“Facebook UK’s accounts show specific issues, but point also to the real problem:
that major multinational companies appear to be able to pick and choose, unlike the rest of us, where and how much tax they will pay.
British Prime Minister Theresa May has said her government will fight back against tax avoidance – if she is serious, she will immediately implement the tax transparency measure that was passed in the new Finance Bill so that the public can see which companies are meeting their UK responsibilities.”
“We are an independent international network launched in 2003. We conduct high-level research, analysis and advocacy on international tax; on the international aspects of financial regulation; on the role of tax in society; and on the impacts of tax evasion, tax avoidance, tax ‘competition’ and tax havens. We seek to create understanding and debate, and to promote reform, especially in poorer countries. We are not aligned to any political party.
“It will not be long before those nations that opt to continue with old-style secrecy will be labeled pariah states and be cut off from the global financial system.”
New and abusive games will continue to emerge to fill the vacuum left by old-style secrecy — including new forms of opacity — but he’s certainly onto something.
“More than $12tn has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit.
. . . The analysis, carried out by Columbia University professor James S Henry for the Tax Justice Network, shows that by the end of 2014, $1.3tn of assets from Russia were sitting offshore.“
David Cay Johnston, writing in The Daily Beast in the U.S., adds:
“The $12.1 trillion estimate—which amounts to two-thirds of America’s annual GDP being taken out of the economies of much poorer nations—is for flight wealth built up since 1970. Add to that flight wealth from the world’s rich regions, much of it due to tax evasion and criminal activities like drug dealing, and the global figure for hidden offshore wealth totals as much as $36 trillion.”
Cay Johnston goes into detail, and is worth reading. For the raw data behind the numbers, you’ll need to contact Henry directly: he expects to publish some further details soon. We’ll carry updates in the Reports section of our website.
The initial document is here. More data will be uploaded in due course.
March 2016 – More than $12 trillion stuffed offshore, from developing countries alone — James S. Henry
Nov 2015 – The Scale of BEPS: estimating the scale of global corporate tax cheating. See also our report Still Broken: Governments must do more to fix the international tax system.
July 2012 – The Price of Offshore, Revisited. Estimating some $21-32 trillion stashed offshore. See also our June 2014 response to a paper attacking Price of Offshore Revisited by two U.S. academics, funded by the tax haven of Jersey, here. See also our June 2014 supplementary notes and sources for the Price of Offshore Revisited, here.
Nov 2015 – The Scale of BEPS: estimating the scale of global corporate tax cheating. See also our report Still Broken: Governments must do more to fix the international tax system.
Nov 2014 – “The end of bank secrecy”? Bridging the gap to effective automatic information exchange: An Evaluation of OECD’s Common Reporting Standard (CRS) and its alternatives
June 2014 – TJN’s response to a paper by two U.S. academics, funded by the tax haven of Jersey and attacking Price of Offshore, here. See also our June 2014 supplementary notes and sources for the Price of Offshore Revisited, here.
July 2012 – The Price of Offshore, Revisited. Estimating some $21-32 trillion stashed offshore. See also our June 2014 response to a paper attacking Price of Offshore Revisited by two U.S. academics, funded by the tax haven of Jersey, here. See also our June 2014 supplementary notes and sources for the Price of Offshore Revisited, here.
was beraten die so? Haben die gepennt die letzten Jahrzehnte? Oder sind die einfach nicht “soooo weise” sondern eher “verweist” und: Wer ist Bernard Lietaer? Und: Haben Sie ihn “KOMPLETT” ignoriert? Oder evtl. sind auch “nur” die Politiker welche Sie beraten beratungs-resistent? (gibt es viele mit der Krankheit)?
“Als Resultat dieser Entwicklungen könne Deutschland „Verteilungs- und Finanzprobleme zukünftig nicht mehr durch Zuwachs lösen, sondern nur noch durch Umverteilung.“ (S. 37)”
“the economy stops growing around the year 2020 because of the growth in productivity and the decrease in the number of working persons compensated each other”
“As a result of these developments, Germany can “distribution- and financial problems from then on not solve by growth, but only through redistribution.” (P. 37)”
“They use Dollar as the linchpin of the global system”
“If and when the Dollar get’s into trouble – it is the entire global system that will fall apart.
Such trouble is actually total predictable – at this point – i knew about it long time ago – that the system will not be able to sustain long term evolution.
The Dollar-Role was negotiated 1944 (Bretton-Woods) at the peak of the power of the United States – they took over the role of the British Pound – in terms of managing the global system.
It is a system of privilege – because it is a privilege – would not be permanent – it was not permanent for the British either.
The Question is: What happens afterwards?
The default would will be
3 monetary zones
– which will enter in competition. There will be a
Dollar dominated zone – probably the western hemisphere
– this is what at least the United States would like to do – as a fall-back.
There gonna be a
European dominated zone – and an Asian zone.
The volatility between these 3 zones will be higher than they are now.
There will be foreign-exchange-control between these 3 zones – and
there will be war between these 3 zones – because zones like oil-producing-middle-east or India do not fit in such a scheme.
So who has influence in these critical areas?
Historically these questions has been resolved in war.
That i was hoping to create an initiative that would be “neutral”.
A currency that is nobody’s national currency.
A currency that is nobody’s national interest.
A currency that would be backed by the major commodities of the global world
– these dependencies exist already.
And in addition – perhaps the most important from my perspective – to create
a currency that actually makes it profitable for the biggest, largest multi-national businesses to think long-term.
Thinking long-term for the corporations is a precondition for a sustainable planet.
It’s the big corporations that actually make the decisions of what we will be doing in the future – it is not governments – and it is certainly not be citizens.
If corporations only think to the next 2 or 3 quarters – that will not get us to a sustainable planet – that will work for everybody.
I was hoping with a system that makes it profitable to think long-term – that would also solve the geopolitical issues that i just mentioned.
We actually remove the “palm”(?) from the chessboard.
In other words – that dimensions would have a safety-zone.
And that what i was trying to introduce first within the Euro-Environment – that was blocked.
That’s why i was trying again in the 1990s – and it did not work either – because i know understand why –
in 5000 Years of History – there have never been preemptive change in the monetary systems – because the objections that i got from the bigger businesses after having checked that the system would work technically (that was tested several times) – but question is:
“allright – will that not perceived as a possible alternative to the Dollar?”
And then the Americans will not like it – and then everything freezes. Nothing happens.
So that’s why historically no preventive change is occurring because there is always one power that has the advantage of the status-quo.
And as long as that power is there – nobody will dare to change it or challenge it.
And that has been what we are repeating now unfortunately – with a huge cost – not only of businesses – but to the population on this globe.
Because the break-down of the entire supply-chains on a global level – will be a very costly affair.
