- Automatic, multilateral exchange of tax information
- Beneficial ownership (public registers for companies, trusts and foundations); and
- Country-by-country reporting (public).
Friday, April 14, 2017
Dirty Secrets: How Tax Havens Destroy the Economy
Mitching stories at Easter
One of the world's leading drug companies 'plotted to destroy supplies of life-saving cancer medicines' over a battle to drive up prices in Europe, it has been claimed.
The conference focused, in effect, on our longstanding policy platform, the ABC of tax transparency:
I don’t think Cayman will be signing up to the public elements in particular any time soon. But a few years ago, there would have been a comprehensive rejection of the whole thing – whereas I was able to commend the government on signing up to automatic exchange under the OECD CRS (from 2018); and on committing to introduce (private) country-by-country reporting under BEPS. Halfway to the ABC?
There may be just a little more mutual understanding after last week – a little more awareness of the extent to which we share an interest in a level playing field, and a little more clarity on the transparency demands of civil society and the basis for making them. Because we’re not going away…
Speaking notes by Alex Cobham on The Caymans: Reputation, Rhetoric, and Reality with the video. See also the very interesting opening presentation from Pascal Saint-Amans, and a panel including Radhanath Housden from the Global Forum among others, and the closing session
Richard Murphy (City University, London), Dirty Secrets: How Tax Havens Destroy the Economy(2017):