Development Finance Watch Issue 101

Eurodad Newsletter August 02, 2012 - Issue# 101   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

 

	Top Story » EU’s emerging strategy on tax havens: ambitious enough? DG TAXUD, the taxation and customs department of the EU civil service, is working on a strategy on tax havens and unfair tax competition to be released in the last quarter of the year. This is an extremely welcome step, as the communication addresses several key issues. However, in many ways the outline strategy that is being proposed looks incomplete.  read more   News »   Exposure of US$ 21 trillion of hidden wealth shows true extent of inequality The wealthy hold between US$21 trillion and US$32 trillion of undeclared income according to a new report by the Tax Justice Network (TJN) The Price of Offshore Revisited. This summarises the most detailed attempt to calculate the scale of wealth held in offshore jurisdictions and hidden ownership structures such as companies, trusts and foundations with unclear or undisclosed ownership. This is further evidence for why ownership of corporate vehicles must be disclosed.   read more   Blog » US food aid contracts: what lies beyond aid? Francesca Giubilo asks if the real purpose of aid is to eradicate poverty or is it just another excuse to allow rich firms to raise their own incomes and boost the economy of developed countries? Recent research conducted by the Guardian has assessed that two-thirds of the US food aid contracts are awarded to three of the biggest agribusiness companies. (Louis) Dreyfus; ADM, Bunge and Cargill, also known as the ABCD group, account for between 75% and 90% of the global grain trade, yet receive the majority of US food aid contracts. read more   Letter » Letter to Dr. Kim, World Bank President, on the review of the Doing Business Indicators We, the organizations undersigned, welcome your initiative to set up a panel to review the Doing Business indicators. We urge you to ensure that any panel created to review these controversial indicators is fully independent and includes representatives from civil society organisations. As demonstrated during the 12 July board meeting on the Doing Business Report 2013, there are very strong and divergent views on the report and indicators.  read more		What's New   Issue #101   August 02, 2012 ACTION ALERTS: From 24 August Christian Aid are driving their tax bus around Britain to campaign against tax dodging - all aboard the tax bus!   Sign the DDCI petition calling for a just global debt policy for Ireland.     FEATURED MEMBER   CORDAID is a Dutch development agency operating worldwide that fights poverty and exclusion in fragile states and areas of conflict and extreme inequality.   FACTS AND FIGURES “the global rich hold between 21US$ trillion and 32US$ trillion of undeclared income in offshore jurisdictions and hidden ownership structures such as companies, trusts and foundations” The Price of Offshore Revisited.     FEATURED RESOURCE TJN taxcast on why there are no prosecutions at HSBC bank, a tax justice victory in Norway, and more.      EVENTS What: Task Force for Financial Integrity and Economic Development Conference When: 17-18 October, 2012 Where: Tunis, Tunisia   EURODAD ANNUAL REPORT 2011 Available online, plus links to previous annual reports.     NEW STAFF María José Romero is our new Policy and Advocacy Officer.     MEDIA MENTIONS Eurodad had an article on ‘Aid in the age of austerity’ published on publicfinanceinternational.org, and our recent reports were covered in the latest Bretton Woods Update.   FOLLOW US ON TWITTER AND LIKE US ON FACEBOOK!     Read the PDF version of this newsletter. If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

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