31 December 1969

(Accountancy Live) Government leaders in Gibraltar joined those in the Isle of Man in signalling their backing for greater tax transparency, following demands from David Cameron for the UK’s offshore tax havens to ‘get their house in order’.

http://bit.ly/14GFtCa

When:

Monday, 10th June 2013, 17:30-2000

Where:

Norton Rose, 3 More London Riverside, London, United Kingdom, SE1 2AQ

Details

Read more...

31 December 1969

(Independent) All 27 heads of state meeting in Brussels agreed in principle to start automatically sharing bank account information by the end of the year.

http://ind.pn/14Uih2S

UK commits to extractive transparency

Transparency International UK has strongly welcomed the commitment announced by the Prime Minister that the UK will sign up to the Extractive Industries Transparency Initiative (EITI)

Read More...

Is tax a moral issue?

This week, a business leader claimed that tax avoidance cannot be about morality. In the run up to the G8, Robert Barrington asks corporate leaders to step back and think about what is in the long-term interest of the British economy and British society.

Read More...

31 December 1969

Transparency International UK has strongly welcomed the commitment announced today by the Prime Minister that the UK will sign up to the Extractive Industries Transparency Initiative (EITI).

'It is important for countries like the UK to set a good example in the international fight against corruption and I welcome this long overdue step.’ said Robert Barrington, Executive Director.

‘Transparency is one of the few tools available to citizens in the many countries around the world in which natural resource revenues are used to line the pockets of politicians and officials rather than benefit the country's population. This announcement gives the UK an opportunity to show what best practice can look like when it comes to transparency over natural resource revenues. In particular, it will be important for the UK to consider including commodity trading within the reach of the EITI in the UK. '

Below: Transparency International, along with Global Witness, CAFOD, and Tearfund, congratulate Jo Swinson on the Government's commitment to EITI 

Read more...

By Robert Barrington on 31 December 1969 in Business

It was a surprise to read in yesterday’s Guardian and elsewhere the remarks of Sir Roger Carr, President of the CBI, that tax avoidance "cannot be about morality – there are no absolutes".

Even more surprising was that his comments were supported by a number of well-known companies including BAE Systems. This is the same BAE Systems that was fined $450 million for ‘books and record offences’ having been accused of serial bribe-paying. And the same BAE Systems that was revealed in court to have routed payments to its agents via a hidden subsidiary called Red Diamond Trading registered in the British Virgin Islands, a tax haven.

I assume that the corporate leaders supporting Sir Roger meant that it is up to companies to obey the law and not to make moral judgements on how much tax they should pay. To some extent I agree. Companies must operate within the law. Though it is worth noting that many companies seek to operate beyond compliance – doing what is ethical, and not merely what is legal.

Even operating to the legal minimum, as Sir Roger apparently advocates, leaves an uneasy feeling. What if that law is not fit for purpose because companies have lobbied against

Read more...

31 December 1969

(Guardian) Britain and France have both announced they are to join a groundbreaking initiative to expose systematic corruption, requiring mining and oil companies to reveal the taxes paid to national governments and the value of the minerals being extracted.

http://bit.ly/184UZeY

31 December 1969

(Independent) The Mahmood al-Zarooni scandal entered an explosive new phase when Encke was named among seven additional horses to have tested positive for anabolic steroids.

http://ind.pn/16LiZU8

31 December 1969

(BBC NEWS) The Isle of Man's Chief Minister has "welcomed" a letter from the UK Prime Minister calling for increased tax transparency between the two countries.

http://bbc.in/17ZEOji

31 December 1969

(Reuters) Britain called upon its overseas territories to "get their house in order" over the sharing of tax information on Monday as the UK looks to lead a global fight against tax evasion.

http://reut.rs/11PPlfI

31 December 1969

(International Business Times) The UN has condemned Russia over President Vladimir Putin's administrations recent crackdown on Non-governmental organisations (NGOs), including Transparency International.

http://bit.ly/14woeml

31 December 1969

(BBC NEWS) Three Indian cricketers have been arrested over allegations of spot-fixing in the Indian Premier League (IPL), India's cricket board says.

http://bbc.in/17xMNDU

By Matthew Hiorns on 31 December 1969 in Business

This week, Public Concern at Work released a report into whistleblowers and their experiences. Whistleblowers play a vital role in uncovering corruption and should be supported rather than ostracised when they do so. The report entitled “Whistleblowing: the inside story” includes both those who do and do not follow through with their concerns and raise them externally.

The findings brought to light that:
• 60% of whistleblowers receive no response from management, either negative or positive;
• The most likely response is formal action (disciplinary or demotion, 19%);
• 15% of whistleblowers are dismissed;
• Newer employees are most likely to blow the whistle (39% have less than two years' service);
• 74% of whistleblowers say nothing is done about the wrongdoing.

Following the report, based on 1,000 callers to their confidential advice line, Public Concern at Work has set up a whistleblowing commission tasked with making recommendations for change. Cathy James the CEO commented that:

“Too many workers still suffer reprisal which will not only impact negatively on the whistleblower, but will deter others from speaking up and allow a culture of silence to pervade. We must learn from past mistakes and make sure that whistleblowing protects individuals, organisations and society as a whole.”

The full report can be accessed here.

About Matthew Hiorns

Read more...

31 December 1969

(BBC NEWS) More transparency is needed in how natural resources are managed around the world, according to a report. The Revenue Watch Institute said 32 out of 58 countries did not meet "basic standards of resource governance".

http://bbc.in/14md2bS

31 December 1969

(Guardian) Three out of four whistleblowers who raise concerns of wrongdoing at work with their managers have their claims ignored, an analysis of cases has found.

http://bit.ly/13XKm9H

31 December 1969

(Bloomberg) UK Prime Minister David Cameron set his sights on oil, gas and mining companies in his drive for greater corporate and government transparency ahead of the summit of G-8 industrialized nations next month.

http://bloom.bg/12sqp9j