Thursday, November 24, 2022

Tax Avoidance Taskforce via Hector Thompson: Promoting Global Financial Stability

  “Keep working even when no one is watching.”

– Alex Morgan

🎼 Tunes by Sarsha Simone Dj's at Tiffany

From Cold River to Moon River

Train announcer on the cross Pennine train: "Sorry there are no seats left but half the train is missing. If you have any queries about this, please ask the management of Northern Rail, who are currently stuck in a brewery, stone cold sober. "

Very difficult to survive in a sport where your teammates may not risk a yellow card to support you.

State of Service Report reveals corruption stats in APS by Chris Johnson

A zero tolerance approach to corruption within the Australian Public Service identified 172 instances of behaviour that could be categorised as corrupt during 2021-22 and 138 employees found to have breached the APS Code of Conduct.

This figure is down from 256 employees identified the previous year to have been involved in some form of corrupt behaviour.

The latest State of the Service Report has revealed a strong focus on anti-corruption initiatives inside the APS, with the collection and reporting of integrity-related data proving a good method of promoting trust in the public service.

Two militants sentenced to death for killing U.S. blogger escape from Bangladesh court

The two men, John and Guiseppe, share not only an Italian heritage and an entrepreneurial charisma but also a reputation for being colourful identities. 

Smooth Talker: Lakeba entrepreneur Giuseppe Porcelli takes tech punters for a rude ride

Zero $? Bullshit Ross! How about promoting Australian businesses? What about pushing for the lowering of the GST threshold, and doing something good for Australian retailers? You have the forum being on radio and TV!

ATO's director ID system deadline looms, with more than 1 million people facing $13,000 fines

LinkedIn Hector Thompson

Hector is not a professional boxer 

I am a committed public servant with diverse experience who enjoys seeking out new challenges. I bring a mix of tax, economic and senior management skills, as well as intellectual curiosity and enthusiasm to my work.

Not long now before Australia welcomes tax Commissioners and delegates from around the world, as the ATO hosts the 15th Plenary meeting of the Forum on Tax Administration. It will be the first in person meeting of Commissioners since 2019 and will discuss important trends, challenges, risks, and opportunities. We will also focus on ways to increase international tax cooperation which delivers tangible benefits for the community.  Hear a bit more about the 2022 Plenary in Sydney in this video featuring ATO Commissioner, Chris Jordan, and CRA Commissioner, Bob Hamilton.  #FTAPlenary2022

Trevor Thompson

Keynote address to The Tax Institute's 2021 Transfer Pricing Conference

Tax Avoidance Taskforce extended and expanded - ATO Deputy Commissioner Hector Thompson

In an interview with The Australian Financial Review following last week’s $1 billion settlement between the Australian Taxation Office and Rio Tinto, Mr Jordan compared tax avoiders with Olympic drug cheats, saying it was better to stamp out their behaviour rather than repeatedly ”cracking down” on transgressors.

‘Drug cheat’ resource groups pay $12b in tax as ATO breaks cycle

Adam Nicholls - Project Director - Australian Taxation Office

Adam Nicholls on Twitter 

Migration and Taxes in Australia 

Ms O’Neil says an overhaul of the “Byzantine mess” of rules and processes is badly needed as leading economies ramp up the fight for global talent, naming three policy and business experts to review the immigration system ahead of the May 2023 federal budget.

Former public service chief Martin Parkinson, University of Adelaide law professor and temporary labour migration expert Joanna Howe, and former Deloitte partner John Azarias will present recommendations from the review to the Albanese government by February, allowing proposals to be considered for the May 2023 budget.

John Azarias - part of panel on the future migration

Financial Stability Board: Promoting Global Financial Stability: 2022 FSB Annual Report 16 November 2022. “The current economic environment is particularly challenging for financial stability.New shocks may expose a number of current vulnerabilities while a number of vulnerabilities associated with structural changes are emerging. This annual report provides an overview of the FSB’s work to tackle current and emerging vulnerabilities including:

  • Intensified monitoring of vulnerabilities and continued support of international cooperation and coordination in the aftermath of COVID-19 and the war in Ukraine
  • Enhancing the resilience of the non-bank financial intermediation sector
  • Enhancing the resolvability of central counterparties (CCPs)
  • Strengthening regulation and supervision of risks from financial institutions’ reliance on critical third-party providers, as well as those institutions’ cyber incident reporting
  • Issuance of a set of proposed recommendations to achieve internationally consistent and comprehensive regulation of crypto-assets and markets, including stablecoins
  • Assessing and addressing climate-related financial risks
  • Taking forward the G20 roadmap to enhance cross-border payments

The report emphasises that, in the face of the current challenges for financial stability, timely and consistent implementation of G20 reforms remain as relevant as when they were initially agreed. The FSB and standard-setting bodies will continue to promote approaches to deepen international cooperation, coordination and information-sharing.”

Six charged over alleged links to multinational drug importation ring

Enzo Guarinoni

Democracy Docket: “In June, Senate Republicans blocked a landmark piece of voting rights legislation, the For the People Act. In October, they blocked a revised, compromised version, the Freedom to Vote Act. In November, it was the John Lewis Voting Rights Advancement Act that failed. If Democrats hold a slim majority in the U.S. Senate, why does progress on crucial voting rights bills keep stalling? 

The answer lies in a procedural tool in the Senate to delay or block the vote on a piece of legislation — the filibuster.  In today’s Explainer, we outline how the filibuster actually works, its history of thwarting progressive policies and given the intransigence of today’s Republican party, what steps Senate Democrats would need to take to bypass it and enact voting rights legislation.”

Nancy Pelosi takes a big step aside

The California Democrat isn't retiring, but she'll no longer be the party's No.1 in the House. Plus media tidbits and recommendations for your weekend

 The Bundesstiftung Aufarbeitung has a new exhibit, Leseland DDR, about reading in the German Democratic Republic -- and at Deutsche Welle Rayna Breuer discusses it, in: Disney was immoral: What was read in the GDR.