Tax Justice Network – The Offshore Wrapper

It has been a super busy week here at Wrapper Towers, so this is a shorter update than usual.

Here at the TJN we were all devastated by the news of the murder of Maltese journalist Daphne Caruana Galizia. Daphne had for many years taken aim at the corruption and criminality that is becoming endemic to this small island tax haven.

In other news, our CEO Alex Cobham has been busy over the last week giving presentations at the Pan Africa Conference on Illicit Financial Flows in Nairobi, where he spoke on the campaign brewing to remove the target to reduce tax avoidance by multinational companies from the Sustainable Development Goals. You can see the slides from his presentation and listen to an audio recording here.

And just a few days later Alex was in Washington DC at the annual meeting of the World Bank Group talking about taxing wealth and addressing wealth inequality.

Alex has written about the event, here, where you can also see a video of the presentation.

Finally, do take a look at the excellent new research published by the Financial Transparency Coalition this week. Their new report – Unequal Exchange – looks at the implementation of the Automatic Exchange of Information System. Automatic Exchange is designed to combat tax evasion and other financial crimes by making banks and other financial institutions report to foreign tax authorities when a citizen of their country opens an account. The system isn’t universal, with countries able to opt in and to decide which other countries they wish to exchange with. The FTC has analysed the current state of play, and found that the vast majority of information flows are between high income countries, with lower income countries benefitting very little from the system.

The latest from the TJN Blog

Tax justice, the new Washington consensus?

I had the honour of giving a keynote address atRead the full article… The post Tax justice, the new Washington consensus? appeared first on Tax Justice Network.

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Malta & corruption: Investigative journalist Daphne Caruana Galizia killed by car bomb

As reported by Reuters, Daphne Caruana Galizia, Malta’s best-known investigative journalistRead the full article… The post Malta & corruption: Investigative journalist Daphne Caruana Galizia killed by car bomb appeared first on Tax Justice Network.

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Our October 2017 Spanish language Podcast: Justicia ImPositiva, nuestro podcast de octubre 2017

Welcome to this month’s latest podcast and radio programme inRead the full article… The post Our October 2017 Spanish language Podcast: Justicia ImPositiva, nuestro podcast de octubre 2017 appeared first on Tax Justice Network.

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Naomi Fowler


Tax justice: A powerful means to address inequality CIDSE

A new global solution to money laundering will mainly just help rich countries Quartz
On a report (linked yesterday) by the Financial Transparency Coalition and Christian AID.

PANA Committee finds resistance to reforms by ‘some member states’ Malta Today

Azerbaijan Laundromat shows UK is choice of crooks and despots, says Hodge The Guardian

UK banks’ money laundering risks in South Africa show why senior bankers must be held to account Global Witness

Switzerland agrees to share tax information on multinationals Reuters
Cites TJN Director and Chair John Christensen: ”There are still some issues in Switzerland regarding tax transparency, but there has been progress, and the move to country by country reporting is a major step forward” 

Latin American & Caribbean network convenes its 4th Biennial Assembly in Buenos Aires Global Alliance for Tax Justice

#TaxJustice Tour in Hungary Global Alliance for Tax Justice

João Paulo Batalha – Corruption in Portugal: The mighty have fallen – the elite’s day of reckoning Brave New Europe

Austalia: Come hide with us – bean counters raid big law firms The Conversation
“Could the incursion be designed also to allow the accounting firms to assert legal professional privilege over tax advice for their multinational clients so they can keep that advice out of the hands of the Australian Tax Office?”

EU leaders want proposals on taxing online giants early next year Reuters

France dials back on digital tax plans after US meetings Politico

This Russian general fought the mob. Why does he own $38 million of Florida real estate? The Miami Herald

Bermuda’s New Premier Fires Back At ‘Tax Haven’ Accusations Tax-News
See our blog “We are not a tax haven.” They all say that, and #wanath

Unequal Exchange: How poor countries are blindfolded in the global fight against banking secrecy Financial Transparency Coalition & Christian Aid

Combating Illicit Financial Flows Through Corporate Tax Evasion, By Léonce Ndikumana Premium Times

Strengthening regional collaboration in international taxation Tax Justice Network Latin America & Caribbean (In Spanish)

Nigeria: Federal Government Cautioned on Use of Corporate Tax Incentives to Achieve Projects Implementation This Day Live

Panama Papers: Ousted Pakistan PM Nawaz Sharif indicted over corruption claims  The Guardian

Final report of the Panama Papers Committee of Inquiry: European governments heavily accused for failure Sven Giegold

#PanamaPapers: MEPs accuse EU national governments of lacking political will on tax avoidance EU Reporter

Offshore Shell Games 2017: The Use of Offshore Tax Havens by Fortune 500 Companies ITEP& U.S. PIRG
See also – Study: 73% of Fortune 500 Companies Used Offshore Tax Havens in 2016

Cayman Islands technocrats lobby on Capitol Hill Cayman News Service

Public country-by-country reporting is going to happen Tax Research UK

Six ways the UK’s financial regulation system is a protection racket for the elite Left Foot Forward
By TJN Senior Adviser @premnsikka

Running the numbers – How African governments model extractive projects – Analytical Report African Natural Resources Centre, African Development Bank

Web of Australian Adani solar companies leads to offshore tax havens The Guardian

Hong Kong Group to Acquire Liechtenstein Bank finews Asia
‘Just weeks after Luxembourg’s oldest bank was sold to Chinese firm Legend Holdings, a Hong Kong listed conglomerate has also moved into European private banking

UK banks ‘exposed to money laundering in South Africa’ BBC News

Did Uganda miss $38 million in tax from Actis-Umeme deals? The Observer

France Probes Danske Bank in Relation to Magnitsky Case OCCRP

Shell Executives Charged With Bribery In Italy PM News Nigeria
“In April, Global Witness and Finance Uncovered revealed that Shell executives knew that $1.1bn they paid for OPL 245 would go to Dan Etete and were likely to be used in a vast bribery scheme”

Rio Tinto: where were the auditors? Tax Research UK

Anne-Marie Waters Time Has Not Yet Come – Bolton Takes Charge Of Ineffective UKIP Rabble

Telegraph Headline: Ukip heads off split as former army officer Henry Bolton beats anti-Islam candidate to win leadership

, 29 September 2017 • 3:57pm

An outspoken critic of Islam failed to become the new leader of the UK Independence Party heading off a possible split in the party.

Anne-Marie Waters, who founded Sharia Watch UK, had been favourite to succeed Paul Nuttall who quit at the June general election.

Read full story: HERE

View Anne-Marie Waters HERE

UKIP’s Steve Crowther Congratulates German Afd On A Success To Savour


AfD and the German elections

You may have seen that I have issued a short statement congratulating the Alternative fur Deutschland (AfD) party on their substantial gains in the German federal elections. The seats have not been allocated yet, but it seems that they will be on around 94 (from none previously), and are the second largest party in the former East German states.

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So It Goes – EU Ideological High Priests Vs Common Sense and Democracy

Junker_DictatorJuncker’s smug references to the Lisbon Treaty when justifying his vision of an EU superstate and military illustrates the danger faced by governments of nations that signed up to it. He is saying the direction the EU elite is taking has already tied the hands of Europe’s democracies. They are to become devolved committees subject to absolute EU Brussels rule in due course.

Essentially he and the rest of his anti-democratic institution are saying the EU’s respective previous governments should have read, understood and told you what they were signing you up to. Now you are mine, unquestionably mine and your previous governments are no longer around to argue the toss with the EU’s Dictatorship.

975154641_579cc8713fUnderstanding why many consider Gordon Brown’s signing of The Lisbon Treaty treason against the British State becomes ever clearer with each vowel and syllable uttered by the ideologically driven EU Commission and its massive overpaid army of EUrocrats.

‘EU is completely INTRANSIGENT!’ Bone rages at Brussels & says THIS is how talks will end

A CONSERVATIVE MP has insisted the UK will be forced to walk away from Brexit talks empty handed because it is not in Brussels chiefs’ interests to agree a deal.

The Bruges Group: In Defence of the Visegrád Group

Robert Oulds,

People have only as much liberty as they have the intelligence to want and the courage to take.”

Emma Goldman

The name of a quiet medieval town in Hungary – Visegrad – has in recent times become synonymous with the word “rebellion” in Brussels.

The Visegrad Group, also known as the Visegrad Four, or V4, is a cultural and political alliance of four central European states, comprising, the Czech Republic, Hungary, Poland and Slovakia, for the purpose of furthering their European integration, as well as for advancing military, economic and energy cooperation with each other. They have always been part of a single civilization sharing cultural and intellectual values and common roots in diverse religious traditions, which they wish to preserve and further strengthen. They have now emerged as the greatest modern defenders of European civilisation by undertaking to deploy armed forces to protect their borders.

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Brexit Central Summary 21st Sept

BrexitCentralBannerJonathan Isaby
Editor, BrexitCentral


With a slew of big international news stories, freak weather and a terrorist incident dominating the media this last week, it’s easy to forget that it was just a matter of days ago that the European Union (Withdrawal) Bill secured its Second Reading in the House of Commons.

Writing for BrexitCentral today, the recently-elected Conservative MP for Aberdeen South, Ross Thomson, reflects on that significant step on the road to Brexit and, in particular, the way in which the Scottish National Party are opposing the legislation in an effort to thwart Brexit. Ross variously accuses the SNP of hypocrisy, scaremongering and attempting to undermine the UK from within and you can read his piece here (and here’s wishing Ross a Happy Birthday today as well!)

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Blair With No Democratic Mandate Is Betraying UK Into the Hands Of Our Adversaries

We Are Revving Up The Leave Campaign

Can You Deliver Leaflets To Stop Blair

Contact details below

BetterOffOut-_Logo.png  TFA_main-logo.png

Tony Blair is determined to stop Brexit. We knew this months ago when we decided to set-up our ‘Stop Blair‘ campaign. After reading the Daily Mail this morning, I decided to write to you because our former Prime Minister is at it again.

Speaking at the Concordia Annual Summit in New York, he described Brexit as “a self-harming act”. When asked directly if he thinks it is possible to undo Brexit, he said he didn’t know, but suggested that the vote could be reversed. And we know he has been doing his best to reverse it.

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Let’s back Boris’s “positive vision” of UK’s future not Juncker’s “nightmare,” says independent Labour Peer

ParliamentTHE PRESS OFFICE OF The Lord Stoddart of Swindon

(independent Labour), 18th September 2017

 The independent Labour Peer, Lord Stoddart of Swindon has welcomed Foreign Secretary, Boris Johnson’s controversial intervention in the ongoing debate about the Brexit negotiations.  Lord Stoddart said: “I congratulate the Foreign Secretary for having the courage to write about a positive vision of the future of our great country, in the face of so much pessimism from gutless politicians who seem to have no faith in our country or its prospects.

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