tax haven Archives - Corruption Watch

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Tax havens will siphon trillions unless action taken

10 Aug 2023, 9:33

We know about the millions and billions lost to theft, corruption, maladministration, and other widely publicised causes – but what about the more insidious loss of similar amounts to the undeclared movement of taxable funds across borders? On 25 July the Tax Justice Network (TJN) published its annual State of Tax Justice report, and at Read more >

CORRUPTION NEWS

Quiz: how much do you know about tax crimes and corruption?

04 Nov 2022, 9:38

Test your knowledge of tax evasion, tax avoidance, bribery, and more, with this short but educational quiz developed within the project VIRTEU (Vat fraud: Interdisciplinary Research on Tax crimes in the European Union), an international research project funded by the European Commission – European Anti-Fraud Office. Tax corruption is criminal, subtle, and dangerous, yet the Read more >

CORRUPTION NEWS

A global asset registry will boost equality and fight lawless wealth

02 Aug 2022, 13:37

Anonymous private wealth. Luxurious homes, state-of-the-art yachts and aircraft, priceless jewellery, valuable pieces of art, and more. Symbols of an ever-increasing global problem of financial inequality, and a proven driver also of corruption and tax abuse. Such wealth in the hands of a mere fraction of the global population is unsustainable – and as long Read more >

OPINIONS

Will Africa become Russian oligarchs’ new safe haven?

06 Jun 2022, 13:14

First published on Financial Transparency Coalition During the last decade, Russia has expanded its interests and presence in Africa by investing in the mining sector and increasing military support to fragile states, primarily through private military contractors and mercenaries. One of Africa’s most prominent private military groups is the Wagner Group, believed to be financed by one Read more >

CORRUPTION NEWS

Developed countries highly complicit in financial secrecy

06 Jun 2022, 12:42

Illicit financial flows create an unjust society and further worsen inequality, especially for underdeveloped countries. This is the message from the Tax Justice Network (TJN), which released its 2022 Financial Secrecy Index (FSI) on 16 May. The FSI is a ranking of jurisdictions which fuel financial secrecy by helping individuals to hide their finances from Read more >

CORRUPTION NEWS

IFF tracker identifies SA’s main vulnerability as outward foreign investment

15 Jun 2021, 8:35

Image: Michael Kuhlmann for UNCTAD Over one trillion dollars. That’s the amount of money that Africa is estimated to have lost in illicit financial flows (IFFs) over the past 50 years (Kar and Cartwright-Smith, 2010; Africa Growth Initiative, 2020). The current estimate is an annual amount of around $50-billion, and possibly more – a significant Read more >

CORRUPTION NEWS

OECD a “rich countries club” helping firms commit tax abuse, TJN shows

10 May 2021, 12:51

In part 3 of our new mini-series on financial secrecy, we focus on the Corporate Tax Haven Index (CTHI), published by the Tax Justice Network (TJN) – the 2021 edition, released in March, is the second since 2019. Part 1 of the series looked at the definition of and gave information on secrecy jurisdictions and Read more >

CORRUPTION NEWS

Global financial secrecy declines, SA remains stagnant on secrecy index

30 Apr 2021, 13:55

The term ‘secrecy jurisdiction’ might, for many, conjure up the image of a fortified bank vault deep underground in a Swiss city, or a tropical island teeming with wealthy individuals and located far away from troublesome laws and regulations. And indeed, the world’s greatest enabler of global financial secrecy is currently the sunny Cayman Islands, Read more >

CORRUPTION NEWS

Financial secrecy – dangerous, destructive, and enabling corruption

21 Apr 2021, 10:21

In our new mini-series we’ll delve into the issue of financial secrecy – what it is, who enables it, how does it affect economies, which are the big culprits, and what role does corruption play? The series is based on two reports released by the Tax Justice Network (TJN) – the biennial Financial Secrecy Index, Read more >