[wanabidii] Secret structures, hidden crimes

Tax evasion poses an acute challenge to developing and developed countries. From 2000 to 2010, illicit financial flows deprived developing countries of US$5.86 trillion. Tax evasion is not a victimless crime – for people in the developing world, the consequences of tax evasion can be a matter of life and death.

Companies and other legal structures that are anonymously owned and controlled are a key mechanism of tax evasion. Securing more disclosure about who owns and controls these vehicles would not only help prevent capital flight in future but may also bring trillions of dollars of offshore wealth back into the tax net. If countries could start to recover this untaxed wealth, it could have an enormous impact on people's lives.

Tax evaders use many of the same techniques to move their assets as criminals involved in corruption, terrorist financing, nuclear proliferation, arms smuggling and many other abuses. Therefore many of the measures taken to tackle these activities, especially around transparency, are the same.

This summary sets out how opaque ownership structures are a key tool for money launderers, and facilitate crime. It also shows how anti-money laundering frameworks provide an opportunity to secure transparency by revealing the identity of beneficial owners – the real people who own and control bank accounts and legal structures such as companies, trusts and foundations.

Link:http://eurodad.org/files/integration/2013/01/Secret-structures-hidden-crimes_summary_web.pdf

--

Find Jobs in Africa Jobs in Africa

International Job Opportunities International Job Opportunities

Jobs in Kenya Jobs in Kenya

--
Send Emails to wanabidii@googlegroups.com
 
Kujiondoa Tuma Email kwenda
wanabidii+unsubscribe@googlegroups.com Utapata Email ya kudhibitisha ukishatuma
 
Disclaimer:
Everyone posting to this Forum bears the sole responsibility for any legal consequences of his or her postings, and hence statements and facts must be presented responsibly. Your continued membership signifies that you agree to this disclaimer and pledge to abide by our Rules and Guidelines.
---
You received this message because you are subscribed to the Google Groups "Wanabidii" group.
To unsubscribe from this group and stop receiving emails from it, send an email to wanabidii+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/groups/opt_out.