BAT shifts nearly $1bn out of developing countries into one UK office

9 May 2019 — True Publica

BAT shifts nearly $1bn out of developing countries into one UK office

By Mark Bou Mansour – Tax Justice Network: For every dollar British American Tobacco (BAT) paid in tax in the countries it operates in, the giant multinational shifted more than half a dollar that would have been taxed locally to a UK subsidiary where BAT paid almost no tax.[1] New analysis by the Tax Justice Network estimates Bangladesh, Indonesia, Kenya, Guyana, Brazil and Trinidad and Tobago together stand to lose a total of nearly $700 million in tax revenue by 2030 from the financial manoeuvring of just one tobacco company if business continues as usual.[2]

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Brexit Britain – Government negotiating ‘Singapore on Thames’ right now

24 January 2019 — True Publica

In the book Brexit – A Corporate Coup D’etat, one chapter is dedicated to the threat of EU regulation, due to be enforced in 2019, which would have all but destroyed Britain’s dominance as a global leader in the tax haven and money laundering business. Over the years, Britain has consistently voted against creating a globally representative inter-governmental body to shape a framework of rules to strengthen international cooperation on tax matters and has successfully resisted international pressure to take effective action against its tax havens in the Channel Islands, the Cayman Islands, the British Virgin Islands, and other British dependencies. In this article, the Tax Justice Network not only confirms this threat but highlights the ongoing efforts the British government are having in the background to create what they themselves are calling the – ‘Singapore-on-Thames’ development strategy. 

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