Report: £250 billion fraud in UK tax havens greater sum than 20 years of foreign aid budget
Russia most common place of origin for fraudsters using British overseas territories
A NEW report has identified over £250 billion in fraudulent funds directed through UK tax havens, more than over 20 years of the UK Government’s foreign aid budget.
The report, by Transparency International, examined the UK’s overseas territories, many of which act as tax havens for companies around the world to launder illegally obtained funds through.
The analysis comes as the Overseas Territories Joint Ministerial Council is set to meet in London.
4 key reasons why London’s status as a global centre for financial corruption is no accident
As MPs urge action on Russian money laundering in the City of London, CommonSpace looks more closely at the depth of corruption in the City
A REPORT BY the House of Commons foreign affairs select committee has argued that government inaction on money laundering has allowed Russian “kleptocrats and human rights abusers” to hide “dirty money” – but how far will proposed reforms go to addressing systemic corruption in the City of London?
Land reform debate reignited in parliament after land ownership consultation launched
Parliament’s land reform debate kicks off again with action needed on tax haven ownership
PRESSURE TO PURSUE truly radical change to Scotland’s land ownership system has re-emerged at the new Holyrood parliamentary session.
Campaigners have run a two year long ‘Our Land’ campaign, supporting an end to tax haven registration that covers an estimated 750,000 acres in Scotland.
Leading tax and anti-corruption campaigners warn against Brexit
Potential increase in financial deregulation highlighted
CRACKING DOWN on tax havens and avoidance would be much harder in the event of a Brexit vote, leading campaigners have warned.
Offshore tax havens, financial secrecy and corruption would be harder to tackle if the UK votes to leave the European Union, the Tax Justice Network [TJN] has said.
UK's 'criminal capitalism' makes it 'most corrupt place on Earth', says mafia expert
Journalist said Brexit would worsen situation
AN EXPERT on the Italian mafia and criminal corruption has said the prevalence of offshore holdings in the UK’s financial sector makes it the “most corrupt place on Earth”.
UK responsible for creating tax haven 'secrecy regime' in the 50s says Green leader
Proposals to clean up 'colonial legacy' of UK's tax havens have sparked controversy
THE UK GOVERNMENT encouraged the creation of a network of tax havens and should now take drastic action to reform them, Green leader Natalie Bennett has said amidst an argument over the colonial legacy of offshore jurisdictions.
Over 50 per cent of the 215,000 offshore firms named in the 'Panama Papers' leak have a link to UK overseas territories and dependencies.
Canonbie residents "appalled" at Duke of Buccleuch's tax haven land
Community residents in drilling dispute criticise Cayman Islands accounts
RICHARD SCOTT'S tax haven land in Canonbie is an 'appalling' example of Buccleuch estate's "lack of transparency", according to the local residents association.
Tax haven Scotland: Government blocks move to end offshore land ownership
Ban on tax haven land rejected in favour of 'transparency register'
PROPOSALS TO OUTLAW the ownership of land in offshore tax havens were rejected by the Scottish Parliament today [Wednesday 16 March] on the basis of private legal advice.
Estimates that 750,000 acres of Scotland are owned in tax havens like the British Virgin Islands and Cayman Islands has caused consternation among land reform campaigners who want transparency and taxes implemented for Scotland's vast private estates.
.@AndyWightman: 'Kicking #LandReform into the long grass isn't good enough'
Plans to delay land transparency with further consultation criticised by reform expert
UNCERTAINTY AND A FURTHER DELAY in action over reforming Scotland's feudal-style land system has been criticised by land reform expert and lead Green Party candidate Andy Wightman.
Following almost two years of government prevarication, minister Aileen McLeod has said that a further consultation will be launched into the delivery of land reform transparency after the Scottish elections.