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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

☆ Ireland now needs to decide what it will do with 13 billion euros in back taxes from Apple
▼ + stars: | 2024-09-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Bloomberg | Bloomberg | Getty ImagesA landmark ruling from the European Union's top court means Ireland will receive 13 billion euros ($14.4 billion) in unpaid taxes from Apple — a windfall that Dublin had spent several years fighting to avoid. In a decision the European Court of Justice (ECJ) said was final, the EU's top court on Tuesday ruled that Apple must pay Ireland billions of euros in back taxes. For years, Ireland consistently argued that the iPhone maker should not have to repay unpaid taxes to the country. The decision comes at a time when Ireland is in the unusual position of running a budget surplus of several billion euros, partly due to the strength of corporate tax receipts. Shoppers and staff are seen inside the Apple Store, with its sleek modern interior design and prominent Apple logo on September 10, 2024 in Chongqing, China.

Persons: ECJ, Margrethe Vestager, Apple, Johanna Geron, Aidan Regan, there's, Simon Harris, Sir Keir Starmer, Brian Lawless, Robert Dever, Dever, Alex Cobham, Cobham, Cheng Xin Organizations: Bloomberg, Getty, Apple, Court of Justice, European Union, Reuters, Irish, University College Dublin, CNBC, Ireland's Finance Ministry, Ireland, U.S, England, Masons, Tax Justice Network, UN, Shoppers Locations: Wicklow, Dublin, Ireland, Brussels, Belgium, Farmleigh, Republic of Ireland, Chongqing, China

LOS ANGELES (AP) — The tributes that poured in following Wayne Kramer's death last week came from musicians praising the MC5 guitarist's contributions to rock music, as well as from prison reform advocates who extolled his legacy of bringing music to incarcerated people. “Working with inmates was cathartic for him because music had saved his life when he was inside,” Heath said this week. Kramer eventually delivered testimony before a joint committee on the arts, along with actor Tim Robbins and others. “Wayne just gave this moving speech about how important it was to have music and arts in prisons,” said Bowers, who's now a mentor at the William James Association Prison Arts Project. The state provided $1 million in 2014, and the prison arts budget has since been increased to $8 million, he said.

Persons: Wayne Kramer's, Kramer, Tom Morello, Wayne, ” Kramer, Morello, Slash, Perry Farrell, Jason Heath, ” Heath, Larry Brewster, “, Elida Ledesma, ”, Joseph Jimenez, ” Jimenez, " Jimenez, ” Jack Bowers, Tim Robbins, “ Wayne, Bowers, who's, William James, Heath, they're, they’re, they’ve, He's Organizations: ANGELES, Mojo, University of San, for Healing, Justice Network, Community Arts, Outreach Center, William, William James Association Prison Arts, Outreach Locations: California, Michigan, University of San Francisco, Hollywood, lockups

☆ On a former cotton plantation in Louisiana, a Black farmers' cooperative is reclaiming the land and money their ancestors lost
▼ + stars: | 2023-10-07 | by ( Trisha Gopal | ) www.businessinsider.com time to read: +11 min

Between 1910 and 1997, Black farmers lost around 90% of their property in the US. In 1920, there were nearly 1 million Black farmers in the United States, accounting for 14% of all farmers. But between 1910 and 1997, Black farmers lost around 90% of their property, while white farmers only lost 2% during the same time period. She hopes to create a platform that addresses economic and racial equity for Black farmers, while also encouraging sustainable agriculture. In the 19th century, after the Southern Farmers' Alliance refused to admit Black farmers except in certain chapters, Black farmers started the Colored Farmers' National Alliance and Co-operative Union.

Persons: Konda Mason, Mason, I've, Mason's, collard, she's, Robert Bimba, Erica Styger, Elisabeth Keller, Keller's, Donna Isaacs, Caryl Levine, Levine, Justice Rice, Rice, Jim Crow, Linda Jones Organizations: Service, Jubilee Justice, Lotus Foods, Justice, US Department of Agriculture, USDA, Agriculture, Southern Farmers ' Alliance, Colored Farmers ' National Alliance and, Union Locations: Alabama, California, Louisiana, Inglewood, Alexandria, New York, Asia, Africa, United States, Mason, Ecuadorian

☆ Global tax loss: Countries could lose trillions in revenue to tax havens in next decade
▼ + stars: | 2023-07-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

The estimated $4.7 trillion shortfall is based on an analysis of aggregated data for 47 countries from the Organization for Economic Cooperation and Development. All in, the report’s authors estimate that $4.7 trillion is roughly equivalent to a year’s worth of public health spending worldwide. The outlook for systemic global tax reformWhile the Tax Justice Network was initially hopeful that OECD tax reform efforts that started a decade ago might reduce global tax abuse, those efforts have hit multiple roadblocks and implementation delays. Now, TJN backs proposals to move authority for global tax rulemaking from the OECD to the United Nations. “The key to ending cross-border tax abuse is to deliver on a UN tax convention and to create a global tax body under UN auspices,” the report’s authors contend.

Persons: TJN, ”, Alex Cobham, Cobham, “ Organizations: New, New York CNN, Tax Justice Network, of Tax, Organization for Economic Cooperation, Development, OECD, Apple, Senate Finance, Democratic, Tax, Network, United Nations, UN Locations: New York, United Kingdom, Singapore, Netherlands, Hong Kong, Luxembourg, Ireland, United States

WASHINGTON, April 3 (Reuters) - Environmental groups on Monday petitioned the U.S. Environmental Protection Agency to require companies to disclose the chemicals discharged from waste incinerators and plants that claim to recycle plastic waste into fuel. The groups said the agency did not respond to a letter they sent last October, raising concerns about the health impacts of incineration. The petition also asks the agency to include discharges from advanced recycling plants, which are classified as incinerators, in the TRI. Advanced recycling is an umbrella term for processes that use heat or chemicals to turn plastic waste into fuel or reclaimed resin to make new plastic. These plants, backed by major oil and petrochemical companies, claim to turn plastic waste to a "clean" fuel.

☆ Missouri Amendment 3: Voters could legalize marijuana for personal use
▼ + stars: | 2022-11-03 | by ( Taiyler Simone Mitchell | ) www.businessinsider.com time to read: +2 min

Missouri Amendment 3 would legalize marijuana use. Ballot measure detailsWhile the use of medical marijuana was legalized in the state in 2018, Amendment 3, the Marijuana Legalization Initiative, would legalize personal marijuana use for adults over the age of 21. Several groups support it, including the ACLU of Missouri, Empower Missouri, Missouri AFL-CIO, Missouri Association of Criminal Defense Lawyers, MoCannTrade, NAACP St. Louis City, NORML KC, and Reale Justice Network, according to Ballotpedia. "Missouri shouldn't legalize marijuana without automatically expunging thousands of criminal records for marijuana offenses that will soon be legal," John Bowman, president of the St. Louis County NAACP, told the Missouri Times. Mike Parson, State Rep. Ashley Bland Manlove, Missouri Association of Prosecuting Attorneys, Missouri Catholic Conference, Missouri Constitutional Conservatives PAC, and Missouri NAACP all oppose the measure, according to Ballotpedia.

☆ 'Perfect for SpaceX employees': Texas locals unhappy as realtors lure Elon Musk's engineers with listings
▼ + stars: | 2022-06-04 | by ( Kate Duffy | ) www.businessinsider.com time to read: +5 min

Realtors in south Texas are tailoring house listings to SpaceX workers, but residents aren't happy. "Perfect for SpaceX workers" and "just minutes away from SpaceX" are written on some listings. Brownsville locals told Insider they are upset that realtors are luring SpaceX staff to the area. One property for rent is described as "perfect for SpaceX workers," while others are considered "just minutes away from SpaceX" and "conveniently located near SpaceX and Boca Chica beach." Grove said he even set up a subsidiary of GRT called "Starbase Realty" designed to cater for SpaceX workers.

(doc) Circa 30 de milioane de dolari din salariile pentru asistentele medicale din Moldova au migrat în offshore-uristudiu al grupului britanic de advocacy Tax Justice Network. Aproape 30 milioane de dolari, profituri ale unor companii din Republica Moldova, au fost „mutate în țări cu impozite mai favorabile", se arată într-unal grupului britanic de advocacy Tax Justice Network. Potrivit raportului, paradisurile fiscale costă guvernele lumii mai mult de 427 de miliarde dolari pe an, inclusiv peste 89 de miliarde dolari în SUA, circa 40 de miliarde dolari în Marea Britanie, peste 35 de miliarde de dolari în Germania, circa 20 de miliarde în Franţa şi aproape 15 miliarde dolari în China şi Brazilia, scrie Mold-street.com. Aproximativ 245 miliarde dolari din total sunt profituri mutate de companii în țări cu impozite mai favorabile. Aceasta este urmată de Marea Britanie, Ţările de Jos, Luxembourg, Statele Unite ale Americii şi Hong Kong.

Persons: Rosa Organizations: Public, Națiunilor Unite Locations: Moldova, Republica Moldova, SUA, Germania, Franţa, China, Brazilia, Cayman, Ţările de Jos Insulele Cayman, Ţările de Jos, Luxembourg, Statele Unite ale Americii, Hong Kong, Jos

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