Financial Regulatory Forum

from The Great Debate:

Taxing spoils of the financial sector

April 22, 2010

If you want less of something, tax it.

That truism is often used as an argument against a tax on profits, or health benefits, or employment, but in the case of the rents extracted from the economy by the financial services industry here's hoping it proves more of a promise than a threat.

EXCLUSIVE – U.S. revenue service hires “hundreds” for high-wealth tax cheat unit

December 12, 2009

By Kim Dixon

WASHINGTON, Dec 11 (Reuters) – A new U.S. Internal Revenue Service unit set up to catch rich tax cheats hiding their wealth in complex business entities is rapidly taking shape with the hiring of hundreds of employees.

REUTERS SUMMIT – Panmure chief warns against “mad” UK regulation

November 18, 2009

By Clara Ferreira-Marques
LONDON, Nov 18 (Reuters) – Britain’s excessive regulatory zeal is hitting competitiveness and driving away top talent and innovative firms, as they flee a poorly devised tax regime and “spurious” legislation, one of Britain’s oldest brokerages said.

Obama still wants corporation tax reform, despite report

October 13, 2009

U.S. President Barack Obama speaks about tax reform at the White House in Washington May 4, 2009. (File Photo)  REUTERS/Kevin Lamarque WASHINGTON, Oct 13 (Reuters) – President Barack Obama remains committed to reforming international corporate taxation to end “unfair loopholes,” a White House spokeswoman said on Tuesday.
The comment was in response to a front-page article in The Wall Street Journal that said the Obama administration has shelved a plan to raise more than $200 billion in new taxes on multinational companies following complaints from businesses.

U.S. tax evaders rush to beat amnesty deadline

September 14, 2009

By Kim Dixon
WASHINGTON, Sept 14 (Reuters) – Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught.