Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.
Upon request by the European Parliament's Committee of Inquiry to investigate alleged contraventions and maladministration in the application of Union law in relation to money laundering, tax avoidance and tax evasion (PANA Committee), this study assesses the impacts of the schemes revealed by the Panama Papers, a set of documents leaked from the law firm Mossack Fonseca detailing tax evasion and avoidance practices, and published by the International Consortium of Investigative Journalists (ICIJ) in April 2016. The study explores the concepts and roles of tax havens and offshore financial centres, their budgetary, and the economic and financial impacts in a sample of EU Member States. The research combined previous estimates of tax revenue loss with a microeconomic assessment based on data on companies that are thought to be linked to the Panama Papers schemes. The most significant impacts identified are the negative effects on Member States' budgets, with wider knock-on effects on economic growth and financial markets. It is recommended that further steps are taken at the national, EU and international levels to increase transparency of corporate and individual taxation and to limit the scope for tax evasion and tax avoidance.
Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.
Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.
Australian spy Ian Milner was suspected of working for Soviet and Czechoslovak secret services on four continents. He served at the United Nations in New York, and the FBI followed him day and night before eventually declaring he was not a spy. But secret documents from Prague show he was spying all along. Wilfred Burchett claimed to be an independent Australian journalist. He wrote dozens of books, and Prague documents prove that he was a secret member of the Communist Party of Australia. He also worked for Soviet, Korean, Chinese and Vietnamese secret services. Drawing upon past secret documents of Australian, Czechoslovak and U.S. secret agencies along with important Soviet records, historian and professor Peter Hruby, who grew up under Communist rule and taught in Australia for decades, uncovers the secrets of the ideology and its manipulative advocates. Along with the stories of spies previously unknown or overlooked, also discover: How Communists pushed for revolution in Australia The role of writers and artists in the struggle How terrorists and politicians influenced the movement And much more! Uncover the secrets of history and discover the truth about Communism and its role in Australia in Dangerous Dreamers.
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