Governments of France, Germany, Italy, Spain, and the UK Agree to Automatically Exchange Tax Information Multilaterally
GFI Urges Rapid Expansion to Include Developing Countries in the Landmark Multilateral Convention
WASHINGTON, DC – Global Financial Integrity (GFI) applauded the governments of France, Germany, Italy, Spain, and the United Kingdom today for announcing that they will be launching the first ever multilateral system of automatic tax information exchange. The Washington, DC-based research and advocacy group hailed the news as a landmark moment for taxpayers and transparency advocates with enormous implications for global development.
Historic EU Transparency Rules Would Build Upon Landmark Cardin-Lugar Provisions to Include Logging Companies and Large, Privately-Owned Firms
WASHINGTON, DC – Global Financial Integrity (GFI) lauded European leaders today for agreeing to adopt historic transparency rules for European companies operating in the extractive sectors. The rules, announced this evening in Brussels, will require large, privately-owned European companies and EU-listed firms operating in the oil, gas, mining, and logging sectors to disclose information on payments made to governments.
Al Jazeera English
GFI Communications Director Clark Gascoigne spoke with Al Jazeera’s News Hour on April 5, 2013, about the International Consortium of Investigative Journalist’s massive investigation exposing hidden shell companies and assets in tax havens.
UN High-Level Panel Communiqué Calls Tackling Illicit Financial Flows, Tax Havens, “Particularly Important” to Development Agenda
WASHINGTON, DC – Global Financial Integrity (GFI) today praised the United Nations High-Level Panel (HLP) of Eminent Persons on the Post-2015 Development Agenda for highlighting the need to tackle illicit financial flows and the role of tax havens as key to global development moving forward.
By now, it is common knowledge that income inequality has been rising in many developed and developing countries across the world. The average layman attributes the factors driving inequality to increasing competition from abroad, globalisation, excessive compensation of company executives, tax breaks to the upper income groups and so on.
There is no question that globalisation impacts income inequality both within and across countries. However, the impact of trade-driven globalisation and financial globalisation need to be considered separately in order to understand the overall impact of closer global links on income inequality. Researchers find that these two aspects of globalisation impact income inequality in opposite directions at least in developing countries.
GFI President Raymond Baker testified before the European Parliament on March 19, 2013, where he discussed illicit financial flows, financial transparency, and their implications for developing countries.
The testimony was delivered at a joint hearing of the European Parliament’s Committee on Development (DEVE) and the Parliament’s Special Committee on Organised Crime, Corruption and Money Laundering (CRIM), titled “Organised Crime, Coruption and Money Laundering: The Impact on Development.”
GFI Director Raymond Baker Releases Statement on Sen. Levin’s Decision to Not Seek Re-Election in 2014
WASHINGTON, DC – Raymond Baker, director of Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization, released the following statement upon news late yesterday that U.S. Senator Carl Levin (D-MI) would not seek reelection in 2014:
Global Financial Integrity Issues Statement in Advance of Thursday Morning’s Senate Banking Hearing on Anti-Money Laundering Compliance Failures
WASHINGTON, DC – In the wake of recent money laundering compliance failures at major U.S. and international banks, the U.S. Senate Committee on Banking, Housing, and Urban Affairs is currently scheduled to hold a hearing tomorrow, Thursday, March 7, 2013 entitled, “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” Heather Lowe, Legal Counsel and Director of Government Affairs at Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization, issued the following statement in advance of the hearing:
