Difference between revisions of "International Financial Centres Forum"
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:"The recent demonstrations by organisations such as UK Uncut have brought the debate over tax avoidance back into the public arena, as has the publication of Treasure Islands by Nicholas Shaxson. The issues raised are not new, but the tone of the rhetoric - spurred on by public anger over banking bonuses and spending cuts – has reached new heights. | :"The recent demonstrations by organisations such as UK Uncut have brought the debate over tax avoidance back into the public arena, as has the publication of Treasure Islands by Nicholas Shaxson. The issues raised are not new, but the tone of the rhetoric - spurred on by public anger over banking bonuses and spending cuts – has reached new heights. | ||
:"The IFC Forum is concerned at the unbalanced nature of the debate. Well-informed public discussion is critical to sound policymaking, which should be based on economic fundamentals. The current public conversation requires a better understanding of why and how the rise of offshore finance has benefited the global economy. | :"The IFC Forum is concerned at the unbalanced nature of the debate. Well-informed public discussion is critical to sound policymaking, which should be based on economic fundamentals. The current public conversation requires a better understanding of why and how the rise of offshore finance has benefited the global economy. | ||
| − | However, it states that "true levels of tax avoidance and evasion in most offshore IFCs are far lower than what is asserted by detractors", citing "independent studies such as “Tax evasion, tax avoidance and tax expenditures” from the University of Oxford ([[Oxford University Centre for Business Taxation]]<ref>[http://www.sbs.ox.ac.uk/centres/tax/Documents/reports/TaxEvasionReportDFIDFINAL1906.pdf Tax evasion, tax avoidance and tax expenditures in developing countries], June 2009).<ref>IFCF, [http://www.ifcforum.org/files/IFC_Forum_holding_statement_on_tax_avoidance.pdf Statement on tax avoidance debate (pdf)], 26 Jan 2011</ref> | + | However, it states that "true levels of tax avoidance and evasion in most offshore IFCs are far lower than what is asserted by detractors", citing "independent studies such as “Tax evasion, tax avoidance and tax expenditures” from the University of Oxford ([[Oxford University Centre for Business Taxation]]<ref>[http://www.sbs.ox.ac.uk/centres/tax/Documents/reports/TaxEvasionReportDFIDFINAL1906.pdf Tax evasion, tax avoidance and tax expenditures in developing countries], June 2009</ref>).<ref>IFCF, [http://www.ifcforum.org/files/IFC_Forum_holding_statement_on_tax_avoidance.pdf Statement on tax avoidance debate (pdf)], 26 Jan 2011</ref> |
==Contact== | ==Contact== | ||
Revision as of 22:12, 30 March 2011
International Financial Centres Forum
IFCF was launched in London in December 2009, with the stated aim to "provide authoritative and balanced information to contribute to the public conversation on the role of IFCs in the global economy."[1]
"The founding members of the IFC Forum are the primary law firms in several of the leading small international financial centres. Member firms include representatives from Appleby, Conyers Dill & Pearman, Mourant Ozannes, Ogier and Walkers, advised by Stikeman Elliott, LLP.
Lobbying activity
In January 2011 IFCF issued a briefing statement on the tax avoidance debate. It begins:
- "The recent demonstrations by organisations such as UK Uncut have brought the debate over tax avoidance back into the public arena, as has the publication of Treasure Islands by Nicholas Shaxson. The issues raised are not new, but the tone of the rhetoric - spurred on by public anger over banking bonuses and spending cuts – has reached new heights.
- "The IFC Forum is concerned at the unbalanced nature of the debate. Well-informed public discussion is critical to sound policymaking, which should be based on economic fundamentals. The current public conversation requires a better understanding of why and how the rise of offshore finance has benefited the global economy.
However, it states that "true levels of tax avoidance and evasion in most offshore IFCs are far lower than what is asserted by detractors", citing "independent studies such as “Tax evasion, tax avoidance and tax expenditures” from the University of Oxford (Oxford University Centre for Business Taxation[2]).[3]
Contact
Cicero (Mark Twigg) Consulting act as IFCF's Secretariat.[4]
References
- ↑ Launch of the International Financial Centres Forum – A new voice for International Financial Centres, Dec 2009
- ↑ Tax evasion, tax avoidance and tax expenditures in developing countries, June 2009
- ↑ IFCF, Statement on tax avoidance debate (pdf), 26 Jan 2011
- ↑ Launch of the International Financial Centres Forum – A new voice for International Financial Centres, Dec 2009
