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April 28, 2015

Financial Terrorism - The global threat

By Mario Hakulinen

Secrecy has been the catalyst feeding Financial Terrorism. The Offshore and Lux leaks was a shock to many politician demanding to end bank secrecy rules.

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Secrecy has been the catalyst feeding Financial Terrorism.

The Offshore and Lux leaks was a shock to many politician demanding to end bank secrecy rules.

A. Offshore leaks on April 2013 (c. 130,000 customers)

Source 1:http://www.icij.org/offshore

Source 2:http://en.wikipedia.org/wiki/O...

B. Lux leaks on November 2014 (c. 500 corporates/companies)

Source 3:http://www.icij.org/project/

Source 4:http://en.wikipedia.org/wiki/L...

China's leader Xi Jinping campaign for "0-tolerance on corruption" and U.S. leader Barack Obama campaign against "0-tolerance on tax refugees" will be beneficial for the global economy and will improve drastically the extreme poverty.

China, U.S. and the EU leaders are facing big challenges on the "war" against global "Financial Terrorism".

The wealth accumulation by the "micronity" (= 1% or less of the top wealthy individuals) has reached the climax.

How many of them are involved on corruption and tax avoidance?

How many trillions of assets has been hided in tax heavens?

How many billions has been laundered by the "banksters"?

Why corporate transfer price schemes are aloud?

How to tax "Bitcoin" businesses?

Why doesn't the "tax refugees" focus on "social spending" instead of wasting their money on high priced "brand" vanity products?

The recent Offshore & Lux leaks shows clearly the involvement of the "4 BIG" audit corporations (PwC, Deloitte, Ernst & Young and KPMG) on tax consulting services for "tax refugees". The 4 BIG revenues on tax consulting on 2014 account 22% of they revenues.

I call these services TAS&S = Tax Avoidance Schemes & Services.

Source 5:

http://www.statista.com/statis...

Finally in the "UN Global Compact -- 10 Principles" are stated:

Principle 10:

Businesses should work against all forms of corruption, including extortion and bribery.

Question:

Why "Any form of tax evasion is strictly prohibited" is missing in this principle?

Now it's time to update it.

Mario Hakulinen

world citizen



Submitters Website: http://www.maruinan.info

Submitters Bio:

I was born in Helsinki, Finland (1947-56). The 2nd was Roma (Labico), Italy (1956-65). The 3rd was in Mikkeli, Finland (1965-2000) and the 4th is Fuzhou (2000-2015), the best living place until now. I am a "world citizen".

My writings are 100% my personal views having no any connection on political parties, religious movements, associations, corporations or businesses. It's a fully independent thinking based on real life experience (43 years in Finland, 10 years in Italy and 15 years in Fuzhou, China. You can find my CV in here:
http://www.maruinan.info/MAHACHIN/P1/W1/MHCURRIC.HTM.


You can also follow my comments and writing on the Internet media in here: https://disqus.com/by/mariohakulinen/

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