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☆ Overseas UK territories are the ‘biggest enablers of corporate tax abuse,’ tax advocacy group says
▼ + stars: | 2024-10-17 | by ( Dylan Butts | ) www.cnbc.com time to read: +4 min

Advocacy group Tax Justice Network has ranked the British Virgin Islands, followed by the Cayman Islands and Bermuda as "most complicit" in helping corporations underpay corporate income tax. Traffic_analyzer | Digitalvision Vectors | Getty ImagesBritish overseas territories are the world's top enablers of corporate tax abuse, according to a ranking by tax advocacy group Tax Justice Network. The British Virgin Islands is the territory "most complicit" in helping multinational corporations underpay corporate income tax, followed by the Cayman Islands and Bermuda, according to the latest update to TJN's Corporate Tax Haven Index earlier this month. TJN estimates that the UK and its British tax havens cost other countries an estimated $84 billion in corporate taxes annually. Defending themselves against the charges made by the advocacy group, spokespersons from some of the governments said they were in full compliance with international tax standards set by the Organisation for Economic Co-operation and Development.

Persons: FCDO, Broad, TJN, pushback Organizations: Tax, Network, Getty Images, Tax Justice Network, Corporate, TJN, CNBC, Switzerland, Organisation for Economic Co, Development, British, Foreign, Commonwealth, Development Office, OECD, CRS, Crown Dependencies, Overseas, BVI Finance, British Virgin Islands, UK Government, United Nations, UN Locations: British Virgin Islands, Cayman Islands, Bermuda, British, Singapore , Hong Kong, Netherlands, United Kingdom, Jersey, Overseas Territories, British Virgin, U.S, Australia, Canada, Israel, Japan, New Zealand, South Korea

☆ Photos show what life is like in the world's most isolated settlement
▼ + stars: | 2024-07-31 | by ( Rachel Askinasi | ) www.businessinsider.com time to read: +1 min

The Edinburgh of the Seven Seas settlement is considered the most remote settlement in the world. The settlement, which is on the island of Tristan da Cunha, is home to around 230 people. AdvertisementResidents of Edinburgh of the Seven Seas, one of the British Overseas Territories on the island of Tristan da Cunha, call their home "the world's most isolated settlement." Tristan da Cunha is an active volcanic island in the middle of the South Atlantic Ocean. The last time it erupted was in 1961, which forced islanders to evacuate to England, according to the website of the Tristan da Cunha Government and the Tristan da Cunha Association.

Persons: Tristan da Cunha, — Organizations: Service, British Overseas Territories, Tristan da Cunha Government, Tristan da Cunha Association, Business Locations: Edinburgh, Cape Town , South Africa, England

☆ At least 6 dead, 7 missing as fishing vessel carrying 27 sinks off Falkland Islands
▼ + stars: | 2024-07-23 | by ( Sahar Akbarzai | Juliana Gonzalez | ) edition.cnn.com time to read: +3 min

CNN —At least six people are dead and seven missing after a fishing vessel carrying 27 onboard sank in the South Atlantic about 200 miles off the coast of the Falkland Islands. The fishing vessel, FV Argos Georgia, requested assistance soon after it began sinking east of the islands at about 4 p.m. local time Monday, the Falkland Islands government said in press release Tuesday. CNN has reached out to the Falkland Islands government to clarify the number of dead and missing. “This is a developing situation, and we will provide no further comment,” Sally Heathman, head of communications for the Falkland Islands Government, told CNN on Tuesday. “The Falkland Islands government sends their thoughts to all the families involved,” it added.

Persons: Sally Heathman, King Edward VII, Stanley, Argos Froyanes, ”, Carmen Crespo Organizations: CNN, FV Argos, Falkland, Falkland Islands Government, Spanish, Associated Press, AP, King Edward VII Memorial Hospital, Stanley Airport, British Forces South, Maritime & Coastguard Agency, Argentina’s Navy, Britain, Argos, Argos Froyanes Ltd, Fisheries Locations: South, Falkland, FV Argos Georgia, Falkland Islands, South Georgia, Sandwich, British Forces South Atlantic, South America, British, Argentina, Las, Argos Georgia, Norwegian, Helena

But whatever your feelings toward Elizabeth, it’s clear that the institution of the British monarchy is far from benevolent. Meanwhile, the exact worth of the British monarchy is very difficult to calculate. The Sunday Times' Rich List calculated the queen’s personal net worth as 370 million pounds (more than $420 million), while the author and royal expert David McClure estimated it at 400 million pounds (around $460 million). In 2021-2022, the royal household’s financial report calculated this as 86.3 million pounds ($98.5 million). (According to the BBC, this portfolio generates around 20 million pounds a year in profits.)

☆ Cloud of colonialism hangs over Queen Elizabeth’s legacy in Africa
▼ + stars: | 2022-09-10 | by ( Stephanie Busari | ) edition.cnn.com time to read: +9 min

Lagos, Nigeria CNN —The death of Queen Elizabeth II has prompted an outpouring of reflection and reaction online. Among the worst atrocities under British rule occurred during the Mau Mau uprising, which started in 1952 – the year Queen Elizabeth took the throne. Queen Elizabeth II on her way to the Kumasi Durbah with Kwame Nkrumah, President of Ghana, during her tour of Ghana, November 1961. Queen Elizabeth II and Prince Philip wave to a crowd of schoolchildren at a rally held at a racecourse in Ibadan, Nigeria, February 15, 1956. Queen Elizabeth II dances with President Kwame Nkrumah of Ghana, during her visit to Accra, Ghana, in 1961.

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