From Monterrey to Doha: Taxation and Financing for Development

Lesage, Dries; McNair, David; Vermeiren, Mattias

doi:10.1111/j.1467-7679.2010.00479.x

Cited by 22 publications

(11 citation statements)

References 7 publications

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“…taxation of multinationals and extractive industries, capital flight to tax havens, technical assistance to developing countries on tax, and so on) was brought to the attention of the international community, with ample resonance in the international press. 28 The following quote from the head of the OECD, Angel Gurría, gives a good idea of the changed mood:…”

Section: International Turbulence and Tax Policymentioning

confidence: 99%

Neo-liberalism at a Time of Crisis: the Case of Taxation

Lesage¹,

Vermeiren²

2011

European Review

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This essay explores how the global financial crisis of [2008][2009] has affected the stability of what Stephen Gill has termed the 'new constitutionalism of disciplinary neo-liberalism', 1 more precisely, in the realm of international tax policy. Rather than providing an in-depth and complete empirical study of the matter, this essay will highlight certain interesting developments and touch upon a series of possibly relevant questions that could form the basis for a future research agenda. In the first section, we will examine the remarkable strength and resilience of the new constitutionalism as the institutional component of neo-liberal hegemony. Then we will proceed to an exploration of the impact of the crisis on this hegemony, also paying attention to deepening geopolitical multipolarity as an additional variable. The final, more empirical section will investigate the case of international taxation in this context, and demonstrate that new constitutionalism remains a crucial supporting pillar of neo-liberal globalisation.

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Section: International Turbulence and Tax Policymentioning

confidence: 99%

Neo-liberalism at a Time of Crisis: the Case of Taxation

Lesage¹,

Vermeiren²

2011

European Review

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“…They typically justify their tax avoidance activities on the basis that it promotes economic efficiency. Some practitioners argue that directors have a duty to avoid tax, since taxes impose additional costs on a business 18 . This assertion needs careful unbundling to understand its underlying ideology.…”

Section: Pinstriped Subversionmentioning

confidence: 99%

“…OECD Secretary General Angel Gurria has commented that developing countries lose three times more to tax havens than to international aid, adding up to billions of dollars, which could aid greatly in financing development [14]. This clearly represents a massive hemorrhaging of the domestic financial resource of many developing countries, which undermines sustainability in a number of ways [18]:…”

Section: Secrecy Jurisdictions and Developmentmentioning

confidence: 99%

The hidden trillions: Secrecy, corruption, and the offshore interface

Christensen¹

2012

Crime Law Soc Change

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This paper considers the role of secrecy jurisdictions in creating a supplyside stimulus for corrupt practices and explores the use of the newly created Financial Secrecy Index as a tool for assessing and ranking such jurisdictions. Secrecy jurisdictions are a prominent feature of international financial markets, providing a combination of low or zero tax rates, lax regulation, weak international judicial cooperation, and-above all-legalised secrecy facilities. Citing the case of Barbados, this paper shows how an environment of legalised secrecy is purposefully created by not requiring disclosure of ownership information for corporations, trusts, foundations and other legal entities; through non-participation or ineffective participation in judicial cooperation and information exchange; and through laws to protect banking secrecy arrangements. Taken in combination these factors make secrecy jurisdictions attractive conduits for illicit cross-border financial flows and the harbouring of dirty money. Using secrecy jurisdictions as platforms for their operations, legal and financial intermediaries create complex and opaque offshore structures to facilitate economic crime and impede investigation. Current international efforts to stem the activities of secrecy jurisdictions are largely ineffective, but civil society is raising pressure for effective action to be taken against offshore secrecy.

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“…Lesage and Vermeiren (2011) further highlight how tax havens have extended the systematic support to wealthy individuals and firms to design and implement structured investment vehicles in geographies that were immune of regulatory scrutiny. With the increased awareness and proliferation of this agenda, a number of international business and political leaders have started to form a coalition to bring about changes that are only benefitting the tax evading and tax minimisation strategies of select individuals and firms (Lesage et al 2010). This stands in stark contrast to the efforts by the OECD BEPS initiative in combating tax haven activity.…”

Section: The Neo-liberal Agenda and Tax Havensmentioning

confidence: 99%

Identity of Asian Multinational Corporations: influence of tax havens

et al. 2019

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The sustained growth and importance of Asia as a hub of economic, social and political activity has attracted significant foreign direct investment and opportunities for economies from the West and other parts of the world to invest in this fast growing region. Regional headquarters and global innovation hubs of large multinational corporations (MNCs) are evidence of an Asian century phenomenon. The proliferation of tax havens in the region or the use of tax havens by firms in the Asian region is no surprise. This is evidenced through a complex and systematic policy choice by power coalitions, to facilitate their interests as well as trade and growth in the region. This proliferation has also had an impact on the changing identity of Asian MNCs in Asia. In this paper, we highlight this new and pervasive trend by presenting findings from recent research in the region on the topic of tax havens and identities of Asian MNCs.

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From Monterrey to Doha: Taxation and Financing for Development

Cited by 22 publications

References 7 publications

Neo-liberalism at a Time of Crisis: the Case of Taxation

Neo-liberalism at a Time of Crisis: the Case of Taxation

The hidden trillions: Secrecy, corruption, and the offshore interface

Identity of Asian Multinational Corporations: influence of tax havens

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