"The Paradise Papers once again show that secrecy, trusts, shell companies and a thriving tax-avoidance industry are undermining much-needed tax revenues in the UK and elsewhere."
After the Paradise Papers and similar leaks, "Britain can tackle tax avoidance",
says Prem Sikka.
Iniref: For that we need stronger, citizen-led democracy"The UK needs to respond strongly to the shady practices in tax havens. Either unilaterally or in collaboration with the European Union, it should impose sanctions against aggressive tax havens. All trusts, contracts and other transactions executed through the blacklisted tax havens should be considered null and void, unless full disclosure is made to the relevant UK and/or the EU authorities.""The Paradise Papers once again show that secrecy, trusts, shell companies and a thriving tax-avoidance industry are undermining much-needed tax revenues in the UK and elsewhere."
"Transparency, public accountability and citizen empowerment are powerful weapons for lifting the cloak of secrecy used by elites to stash their gains and avoid taxes."
"Tax returns of all wealthy individuals should be made publicly available. The tax computations of all large corporations, together with advice received from accountants and lawyers, key players in the global tax avoidance industry, should be filed at Companies House and made publicly available. The public availability of information is what will enable citizens to check the affairs of powerful elites and draw the attention of HMRC to omissions and dubious practices."
".... HMRC is colonised by the tax avoidance industry and large corporations, who dominate its operations and are, in effect, allowed to write tax law."
"The Paradise Papers have revealed the true extent of tax havens’ shady practices: only a radical reform of the law and HMRC will make wealthy elites accountable"
INIREF comments:
Whether or not the UK quits the EU we will certainly need "citizen empowerment" if we are to effectively tackle issues such as tax avoidance or evasion. Empowerment can be well expressed by the stronger democracy and improved citizens' political rights which we propose. With the citizens' initiative and citizen-launched binding referendum the electorate could put forward proposals for new law and state constitution, over-ruling government if need be. Citizens' juries and commissions, with the power to call in expert evidence, could have a role to play so long as these are not as in the past abused by governments seeking to evade their duty to take effective action.
For more detail visit:
Campaign for direct democracy in Britain
Citizens' Initiative and Referendum I&R ~ GB
http://www.iniref.org/ Link to site index
Contact: info@iniref.org