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Center for
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CFP E-Mail Update, June 19, 2002

Center for Freedom and Prosperity's E-mail Update

1) Washington Update

2) DeMint's Letter to Treasury Secretary Paul O'Neill

3) European Savings Tax Directive is wrong for America and other low-tax countries

4) Armey: Corporate Inversion: Don't Blame Companies -- Fix Our Tax Code

5) House Committee on Ways and Means Corporate Inversion Hearing

6) Mitchell vs. Senator Grassley on Corporate Inversion

7) Mitchell defends corporate inversions

8) Congressman Ron Paul on Corporate Inversion

9) Additional Clips on Corporate Inversion

10) 2002 European Competitiveness Report…EU workers are 20 percent less efficient than US

11) JEC: Tax Rate Reductions Boost Cash Flow and Investment of Small Businesses and Farms

12) CRS: Global Taxation and the United Nations

13) Rahn: War against the stock market

14) No Terrorist Money Came from Tax Havens/Low-Tax Countries . . . Will U.S. rethink vast invasion of the financial affairs of American citizens?

15) Paul Craig Roberts:  U.S. Property Rights at Risk… Financial privacy is ceasing to exist

16) Hishikawa: The Death of Tax Havens?

17) CFP Clips

 

1) Washington Update

It has been awhile since the last update. The Center has been very busy defending corporate inversions, fighting the IRS regulation on interest payments to non-resident aliens, keeping an eye on the OECD and educating lawmakers about the European Union Savings Tax Directive. In the last month, I also have spoken at tax competition conferences in Washington, the Bahamas, and Panama. In addition, I have had several meetings with Bush Administration policy makers and Capitol Hill lawmakers and staff.

Our work is yielding dividends.  The Bush Administration has not capitulated to the EU's push on information exchange and the Treasury has come out strong against corporate inversion legislation in Congress. Both of these topics are featured in this update.  During the Ways and Means Committee hearing on Corporate Inversion, Treasury's top-tax policy maker Pamela Olson endorsed reforming our corporate tax rules and distanced the Bush Administration from the Grassley-Baucus fiscal protectionism legislation. In addition, Veronique de Rugy and Dan Mitchell explain in a very understandable way why the U.S. needs to resist the tax harmonization agenda of the European Union. I also feature a report by Congress' Joint Economic Committee that shows that tax rate reductions are especially beneficial for investment by small businesses and farms that do not have easy access to financial capital. And I also emphasize the recent news reports that the 9/11 terrorist funds did not come through low-tax jurisdictions. Will this mean that the Federal government will return some of our financial privacy and personal liberties?  I doubt it!

I also want to bring you up-to-date on our busy travel schedule. Dan Mitchell and I will be speaking at a conference in The Bahamas next week and we will be attending several meetings and seminars in the Republic of Panama the first week of July.  If you would like to meet with us, please e-mail me or call.

The fight continues and we appreciate your help and support. FYI: For more information on helping us fund our mission and projects please checkout the link below. Thank you. AFQ
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2) DeMint's Letter to Treasury Secretary Paul O'Neill

Leading tax reform advocate, Congressman Jim DeMint from South Carolina, urges Treasury Secretary Paul O'Neill to oppose the European Union's Savings Tax Directive.

[Excerpt]
… the "information exchange" proposals advocated by supporters of tax harmonization explicitly are based on the misguided notions that savings and investment should be double-taxed and that governments should be allowed to impose those discriminatory taxes on income earned in other nations.

This is bad tax policy and bad economic policy, but it also is a threat to America's competitive position in the world economy. We create more jobs and enjoy higher incomes in part because our tax burden is much lower than the tax burdens in most other industrialized nations. Needless to say, it would be foolish to compromise this advantage by agreeing to participate in a tax cartel – an OPEC for politicians. [Link to full letter below:]
http://www.freedomandprosperity.org/ltr/demint/demint.shtml

 

3) European Savings Tax Directive is wrong for America and other low-tax countries

The self-created deadline for the EU Savings Tax Directive is fast approaching. Linchpin countries like the U.S. and Switzerland have so far stood up to the bureaucrats in Brussels, largely because it would be economic suicide for a low-tax, capital inflow country to agree to such a proposal. CFP has been educating Members of Congress and their staff of the dangers involved with the EU's information sharing plan.  The Bush Administration is well aware of the pitfalls and we hope that our continued vigilance will win at the end of the day.

Below are articles on the EU by Veronique de Rugy, a senior analyst at the Cato Institute and a Board member of CFP, and Dan Mitchell of the Heritage Foundation

A) De Rugy: Repel the Cartel: EU tax collectors are assaulting American sovereignty.

[Excerpt]
Frits Bolkestein, a senior bureaucrat for the European Commission, just visited the United States in an effort to convince the Bush administration to join the European Union's proposed savings-tax cartel. This plan, known as the "Savings Tax Directive," is designed to stop money from escaping Europe's high-tax economies and fleeing to low-tax economies. And since the United States is a low-tax country (compared to places like France), the plan would require U.S. financial institutions to collect private financial data on non-resident investors so it can be turned over to foreign tax collectors.

This is an assault on American sovereignty and it should be rejected.

European politicians may believe that it is unfair for jobs and capital to flee from high-tax countries to low-tax countries, but the United States has no obligation to prop up Europe's welfare states. The Savings Tax Directive is a significant threat to market-based policy and fiscal competition. But most of all it is a threat to American interests.

America is the best tax haven in the world. Low taxes and a strong commitment to financial privacy combine to attract more that $9 trillion in foreign capital to the U.S. economy. This inflow of money is a key determinant of American prosperity because this money is put to work for the nation and produces more jobs, higher standards of living, and general prosperity. [Link to full article below:]

June 7, 2002, National Review Online, By Veronique de Rugy, Repel the Cartel: EU tax collectors are assaulting American sovereignty.
http://www.nationalreview.com/nrof_comment/comment-derugy060702.asp

B) June 4, 2002, National Post, By Veronique de Rugy, Europe lobbies U.S. for a tax cartel: Lower tax rates and simplification are better ways to stop tax evasion
http://www.cato.org/research/articles/rugy-020604.html

C) Mitchell: The European Union Wants to Tax You!

If Europe's welfare states want to slap excessive taxes on sales that take place within their borders, that's their business. But they have no right to impose their misguided tax laws on transactions that take place in other nations. [Below is the link to Dan Mitchell's article the Capitalism Magazine.]

May 31, 2002, Capitalism Magazine, By Daniel J. Mitchell, The European Union Wants to Tax You!
http://www.capitalismmagazine.com/2002/may/her_eu_tax.htm

 

4) Armey:  Corporate Inversion: Don't Blame Companies -- Fix Our Tax Code

House Majority Leader Dick Armey sent a letter to his House Colleagues explaining why we need to fix our tax code to stop corporate inversions.  The following is an excerpt from his "Dear Colleague" letter:

"Tax competition is a fact of life. Within the U.S., companies move to states with lower tax rates, just as people do. Retirees flock to Florida, not just for the sunshine, but also for Florida's low tax rates. It's not controversial when a company chooses to relocate from its home state to Delaware -- a low tax state. And it should come as no surprise that states with no individual income taxes like Florida and Texas grow faster and create more jobs than high-tax states.

"Keep in mind that America's corporate tax rate is the fourth highest in the developed world. According to a new KPMG survey, the U.S. corporate income tax rate of 40 percent is higher than Germany (38.4 percent), France (34.3 percent) and Britain (30 percent.)

"Corporate inversions are not the result of anti-American corporate sentiment, but tax laws that place U.S.-based multinational companies at a disadvantage with their foreign competitors. As Treasury Secretary Paul O'Neill recently said, "When we have a tax code that allows companies to cut their taxes on their U.S. businesses by nominally moving their headquarters offshore, then we need to do something to fix the tax code.

"House Ways and Means Committee has already held a hearing to explore this issue and another hearing is anticipated. Chairman Bill Thomas has announced his intention to consider ways to improve our tax code to specifically prevent inversions. One area of our tax code that demands a serious review is our complicated and burdensome foreign business income rules." [Link to full letter below:]
http://www.freedom.gov/library/economics/inversion.asp

 

5) House Committee on Ways and Means Corporate Inversion Hearing

Pamela Olson, Acting Assistant Secretary (Tax Policy), United States Department of the Treasury speaks out against the Grassley-Baucus Corporate inversion Legislation. Warns Congress that U.S. international tax rules should be changed to keep American companies competitive with our trading partners.

Excerpts from witnesses below:

Pamela Olson: ". . . [W]e must continue our work to address the U.S. tax disadvantages for U.S.-based companies that do business abroad relative to their counterparts in our major trading partners. The U.S. international tax rules can operate to impose a burden on U.S.-based companies with foreign operations that is disproportionate to the tax burden imposed by our trading partners on the foreign operations of their companies. The U.S. rules for the taxation of foreign-source income are unique in their breadth of reach and degree of complexity. Both the recent inversion activity and the increase in foreign acquisitions of U.S. multinationals are evidence that the competitive disadvantage caused by our international tax rules is a serious issue with significant consequences for U.S. businesses and the U.S. economy. A comprehensive reexamination of the U.S. international tax rules and the economic assumptions underlying them is needed. As we consider appropriate reformulation of these rules we should not underestimate the benefits to be gained from reducing the complexity of the current rules. Our system of international tax rules should not disadvantage U.S.-based companies competing in the global marketplace.

     "As we work to address these important issues, we must keep our focus on the overarching goal of maintaining the attractiveness of the United States as the most desirable location in the world for incorporation, headquartering, foreign investment, business operations, and employment opportunities, in order to achieve an ever higher standard of living for all Americans." ." [Link to full testimony below:]

Pamela Olson, Acting Assistant Secretary (Tax Policy), United States Department of the Treasury
http://www.ustreas.gov/press/releases/po3156.htm

Gary Hufbauer, Reginald Jones Senior Fellow, Institute for International Economics: ". . . In my opinion, it's far more important for the United States to retain its position as the nerve center for multinational corporations than to collect whatever revenue is gathered from the activities of foreign subsidiaries by the cumbersome U.S. system of taxing worldwide income. And it would be foolish for the United States to enact new tax provisions (such as a discriminatory earnings stripping rule) that would give foreign multinationals a leg up when competing in the U.S. market."

"Where headquarters are located, key corporate functions of strategy, law, finance, distribution and R&E activity are likely to follow.  For the high-skilled, high-tech society of 21st century America, these are critical functions. Corporate inversions are not the fundamental problem; they are simply the wake-up call." [Link to full testimony below:]
http://waysandmeans.house.gov/fullcomm/107cong/6-6-02/6-6hufb.htm#_ednref1

Steven C. Salch, Partner, Fulbright & Jaworski, L.L.P., Houston, Texas: ". . . It is a part of our American culture that we will compete on a level playing field with anyone, anytime, and anyplace. Once the playing field was local.  Then it became regional, and later it became national.  Today the playing field is international, and our rules are not the only rules in play.  Thus, we need to be vigilant that others do not adopt rules that unfairly penalize our businesses seeking to operate abroad." [Link to full testimony below:]
http://waysandmeans.house.gov/fullcomm/107cong/6-6-02/6-6salc.htm

News Clips on the Hearing

CFP's Press Release on Hearing
http://www.freedomandprosperity.org/press/p06-06-02/p06-06-02.shtml

Committee Links to Hearing, June 6, 2002
http://waysandmeans.house.gov/fullcomm/107cong/fc-19wit.htm

June 7, 2002, Tax-News.com, by Mike Godfrey, US Treasury Makes 'Inversion' Proposals To Congress
http://www.tax-news.com/asp/story/story.asp?storyname=8425

June 6, 2002, The Royal Gazette, US hearing today on offshore moves
http://www.theroyalgazette.com/apps/pbcs.dll/artikkel?SearchID=73101865932937&Avi s=RG&Dato=20020606&Kategori=BUSINESS&Lopenr=106060020&Ref=AR

June 13. 2002, The Royal Gazette, by Lilla Zuill, US tax hearing wins praise
http://www.theroyalgazette.com/apps/pbcs.dll/artikkel?SearchID=73101865932937&Avi s=RG&Dato=20020613&Kategori=BUSINESS&Lopenr=106130055&Ref=AR

 

6) Mitchell vs. Senator Grassley on Corporate Inversion

 

On June 2, Senator Charles Grassley, senior-Republican on the Senate Finance Committee, and co-author of the Baucus-Grassley anti-corporate inversion legislation, sent a Letter-to-the-Editor to the Washington Times in response to Dan Mitchell's op-ed of May 8, 2002.

Dan, along with Andrew Quinlan, CFP President, has been an outspoken opponent of Senator Grassley's "Dred Scott Tax Act." Dan's op-ed, and response to the Senator's letter, explains our position very well. Simply stated, the U.S. should reform our antiquated tax code so U.S. corporations are competing on a level playing field with our trading-partners. We should not punish multinationals for doing what is best for their shareholders, American consumers and American taxpayers.

The following are links to Dan's original op-ed, the Senator's response and Dan's response to the Senator.

May 8, 2002, The Washington Times, by Dan Mitchell, Bad tax policy: You can run . . .http://www.washtimes.com/commentary/20020508-28100060.htm

Letter-to-the-Editor from U.S. Senator Charles Grassley
http://www.freedomandprosperity.org/Articles/twt06-02-02/twt06-02-02.shtml

Letter-to-the-Editor from Dan Mitchell
http://www.freedomandprosperity.org/ltr/mitchell/mitchell.shtml

 

7) Mitchell defends corporate inversions

Mitchell defends corporate inversions. Writing to an audience of financial executives, Dan explains that tax reform is the correct way to make US companies more competitive in the global economy.

June 2002, Treasury and Risk Management, by Dan Mitchell, The Perfect Jurisdiction
http://www.freedomandprosperity.org/Articles/mitchell5.pdf

 

8) Congressman Ron Paul on Corporate Inversion

On June 12, 2002, Texas Congressman Ron Paul spoke on the House floor in favor of allowing corporations to expatriate. Mr. Paul quoted heavily from Dan Mitchell's column on corporate inversion (Bad Tax Policy: You Can Run .....) and entered it into the Congressional Record.  Below is the link to Rep. Paul's complete statement and Dan Mitchell's op-ed:
http://www.house.gov/paul/congrec/congrec2002/cr061202b.htm

May 8, 2002, The Washington Times, by Dan Mitchell, Bad tax policy: You can run . . .
http://www.washtimes.com/commentary/20020508-28100060.htm

 

9) Additional Clips on Corporate Inversion

June 19, 2002, Tax-News.com, by Mike Godfrey, Nabors Shareholders Approve Offshore Move
http://www.tax-news.com/asp/story/story.asp?storyname=8530

June 17, 2002, Tax-News.com, by Mike Godfrey, Wrangling Over Nabors' Corporate Inversion Nears An End
http://www.tax-news.com/asp/story/story.asp?storyname=8500

June 10, 2002, National Center for Policy Analysis, by Bruce Bartlett, Corporate Earnings Confusion
http://www.ncpa.org/edo/bb/2002/bb061002.html

June 4, 2002, Reuters, Nabors says Bermuda move brings long-term benefits
http://money.iwon.com/jsp/nw/nwdt_rt.jsp?section=news&news_id=reu-n04134661&fe ed=reu&date=20020604&cat=INDUSTRY

May 29, 2002, Tax-News.com, by Mike Godfrey, International Consultancy Firms Slammed For 'Unpatriotic' Tax Moves
http://www.tax-news.com/asp/story/story.asp?storyname=8334

May 28. 2002, The Royal Gazette, By Magnus Henagulph, Patriot tax gets religion
http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020528&Category=BUSI NESS&ArtNo=105280005&Ref=AR

May 29, 2002, Tax-News.com, Cato Institute Corrects NY Times On 'Patriotism' And Taxes
http://www.tax-news.com/asp/story/story.asp?storyname=8336

May 27 2002, The Financial Times, By Amity Shlaes, Let US corporations off the tax leash: Stanley Works's decision to move to Bermuda demonstrates the need for reform
http://www.freedomandprosperity.org/Articles/ft05-27-02/ft05-27-02.shtml

June 9, 2002, The Washington Post, Editorial: Inversion Subversion
http://www.washingtonpost.com/wp-dyn/articles/A18387-2002Jun8.html

 

10) 2002 European Competitiveness Report…EU workers are 20 percent less efficient than US

BNA Excerpt: "European Union workers have failed to close the gap with the United States when it comes to the productivity as most workers in the 15 EU member states are 20 percent less efficient, the European Commission said in a new report published May 23 on the competitiveness of industry in the 15 member states.

     "In addition, the European Commission said European workers in general have two years less education than Americans and the resulting shortage of skilled labor poses an ever bigger threat to the growth of the service sector in the EU.

     "Enterprise Commissioner Erkki Liikanen told journalists when he unveiled the report that if the productivity of EU workers does not improve the EU will miss its goal of making the 15 members the most competitive knowledge-based economy in the world by 2010, a target established at a special economic summit in Lisbon in 2000. . ." [Link to Full Article Below:]

May 24, 2002, The Bureau of National Affairs, by Joe Kirwin, EU Workers 20 Percent Less Efficient Than U.S. Workers, Commission Report Says
http://www.freedomandprosperity.org/Articles/bna05-24-02/bna05-24-02.shtml

Link to 2002 European Competitiveness Report
http://europa.eu.int/comm/enterprise/enterprise_policy/competitiveness/doc/competitiv eness_report_2002/cr_2002.pdf

 

11) JEC: Tax Rate Reductions Boost Cash Flow and Investment of Small Businesses and Farms

[JEC Press Release]
Tax rate reductions are especially beneficial for investment by small businesses and farms that do not have easy access to financial capital, according to a new study released today by Joint Economic Committee (JEC) Chairman Jim Saxton.

The study, "Federal Individual Income Taxes and Investment: Examining the Empirical Evidence," analyzes statistical research that integrates financing constraints into aggregate investment models.

"Small businesses and farms do not have the same access to financial markets as do large corporations, so internal cash flow is more important to them," Saxton said. "A reduction in personal tax rates can increase small business cash flow, and thus provide an important boost to small business and farm investment. These proprietorships, partnerships, and subchapter S corporations are an important source of investment, innovation, and employment in the U.S. economy.

For a copy of the study, Federal Individual Income Taxes and Investment: Examining The Empirical Evidence, and more information on taxation, please visit the JEC website at www.house.gov/jec.  [Link to full report below:]

Federal Individual Income Taxes and Investment: Examining the Emperical Evidence (JEC Study -- June 2002)
http://www.house.gov/jec/tax/fit.pdf

 

12) CRS: Global Taxation and the United Nations

The Congressional Research Service of the Library of Congress issued a report on the UN's global tax agenda. 

[Summary]
A discussion of the possibility of the United Nations promoting and planning imposition of international taxation on U.N. member states, including the United States was initiated in response to the March 2002 U.N.-sponsored International Conference on Financing for Development, held in Monterrey, Mexico. While this issue was not specifically on the agenda of the conference, preparations for the meeting included global taxation proposals as a source of "innovative revenue sources of funding." This was the third time within the past decade that a discussion of perceived U.N.-imposed global taxation has received attention in the United States. The first occasion took place after the January 1996 comments by then-U.N. Secretary-General Boutros Boutros-Ghali suggesting a global tax; the second occurrence was brought about by a recommendation for "taxing the internet" in the 1999 U.N. Development Program (UNDP)-issued Human Development Report. In response to the first two cases, Congress enacted provisions (1) requiring executive branch certification before release of Foreign Operations funds to the United Nations that the United Nations is not involved in any effort to impose or implement taxation on any U.S. person and (2) stating that no funds made available for the United Nations may be used by the United Nations for any activity related to taxation of the internet or international currency transactions.

May 3, 2002, Congressional Research Service of the Library of Congress, Global Taxation and the United Nations: A Review of Proposals
http://www.freedomandprosperity.org/Articles/CRS-RL31405.pdf

 

13) Rahn: War against the stock market

[Excerpt]
     Why is the stock market still depressed? In one word, Washington. The Washington political class has engaged in a steady stream of actions and proposals over the last few months that would depress any economy and investor. . .

     . . . It is time for all us who want to see more of our fellow Americans employed at higher real incomes, and stock prices rise rather than fall, to tell our elected representatives to stop the economic suicide. The solution is simple. Reduce the growth rate of government spending, reduce tariffs, cut taxes on productive economic activity, repeal foolish and expensive regulations, and stop driving away foreign investors who wish to invest in our economy.…

     Mr. Mitchell had correctly skewered Mr. Grassley and Sen. Baucus, Montana Democrat, for a foolish and destructive proposal to prevent U.S. companies from incorporating in low-tax jurisdictions in order to protect their employees, customers and investors. In his reply to Mr. Mitchell, published in The Washington Times, Mr. Grassley admits: "Companies are moving overseas because our international tax rules are flawed, and they have difficulty competing globally." Given that Mr. Grassley understands the problem, he should be working to correct it, not creating another problem. [Link to full article below:]

June 11, 2002, The Washington Times, by Richard W. Rahn, War against the stock market
http://www.washingtontimes.com/commentary/20020611-67133686.htm

 

14) No Terrorist Money Came from Tax Havens/Low-Tax Countries . . . Will U.S. rethink vast invasion of the financial affairs of American citizens?

A) "FBI Director Robert S. Mueller III said yesterday that investigators believe the idea of the Sept. 11 attacks on the World Trade Center and Pentagon came from al Qaeda leaders in Afghanistan, the actual plotting was done in Germany, and the financing came through the United Arab Emirates from sources in Afghanistan. . ." [Link to full Washington Post story below:]

June 6, 2002, The Washington Post, By Walter Pincus, Mueller Outlines Origin, Funding of Sept. 11 Plot
http://www.washingtonpost.com/wp-dyn/articles/A2648-2002Jun5.html

B) "The U.S.-led effort to track money belonging to terrorist groups has been hobbled by bureaucratic infighting and a growing understanding by investigators that most of al Qaeda's money is not in banks but in untraceable commodities, including gold and diamonds, according to U.S. and international officials." [Link to full Washington Post story below:]

June 18, 2002; Washington Post, By Karen DeYoung and Douglas Farah, Infighting Slows Hunt for Hidden Al Qaeda Assets Funds Put in Untraceable Commodities
http://www.washingtonpost.com/wp-dyn/articles/A1813-2002Jun17.html

 

15) Paul Craig Roberts:  U.S. Property Rights at Risk… Financial privacy is ceasing to exist

[Excerpt]
Americans reassure themselves about their country's competitive future by invoking the U.S. legal system. Americans think that they need not worry about corporations deserting the protection of the U.S. legal system merely to gain access to cheap labor abroad. Americans believe that cheap-labor countries are legally undeveloped and cannot compete with the rule of law, and protection of contracts and property that the United States provides.

Fifty years ago, this argument was valid. Today, the U.S. legal system has been laid low by: a great profusion of law and regulation, much of which is contradictory; class action and plaintiff civil suits that blame deep pocket defendants for the plaintiffs' mistakes; unscrupulous prosecutors who abuse their powers; asset freeze and forfeiture laws that have destroyed the security of property; and Benthamite legal influences that have stripped away the individual's protections, which were once the glory of the Anglo-American legal system. [Link to full article below:]

May 16, 2002, Column by Paul Craig Roberts, Fourth in a series on America's imperiled future
http://www.townhall.com/columnists/paulcraigroberts/pcr20020516.shtml

 

16) Hishikawa: The Death of Tax Havens?

[Abstract]
The Organization for Economic Co-operation and Development has been fighting for the elimination of harmful tax practices since 1998, through the creation of a global co-operative framework. In June, 2000, the OECD listed thirty-five jurisdictions considered to be tax havens. These jurisdictions originally had until July 31, 2001 to make commitments for the elimination of harmful tax practices. Through subsequent meetings between the OECD and the jurisdictions, various modifications were made to the OECD guidelines, including an extension of the commitment deadline until February, 2002, and the postponement of the defensive measures until April, 2003. This Note will examine the OECD, the various meetings held between the OECD and the tax havens, the results achieved by the OECD, and the implications of the pending deadline. [Link to Full Review Article Below:]

Spring 2002, Boston College International & Comparative Law Review, By Akiko Hishikawa, The Death of Tax Havens?
http://www.bc.edu/bc_org/avp/law/lwsch/journals/bciclr/25_2/10_FMS.htm

 

17) CFP Clips

June 17, 2002, Swiss Info, Brown launches new attack on bank secrecy
http://www2.swissinfo.org/sen/Swissinfo.html?siteSect=111&sid=1179596

June 17, 2002, Tax-News.com, by Mike Godfrey, Top US Official Says Sanctions Unlikely In FSC Dispute
http://www.tax-news.com/asp/story/story.asp?storyname=8501

June 15, 2002, Reuters, By Tomasz Janowski, G7 mulls sanctions in war on tax evasion
http://money.iwon.com/jsp/nw/nwdt_rt.jsp?section=news&news_id=reu-n15158178&fe ed=reu&date=20020615&cat=INDUSTRY

June 14, 2002, Tax-News.com, by Amanda Banks, Bahamas MP Says Economy On The Road To Recovery
http://www.tax-news.com/asp/story/story.asp?storyname=8489

June 6, 2002, The Associated Press, By Martin Crutsinger, United States Designates Russia as a Market Economy, a Decade After Communism's Collapse
http://ap.tbo.com/ap/breaking/MGAZM0L552D.html

June 4, 2002, BBC News, Channel Islands to target tax evaders
http://news.bbc.co.uk/hi/english/business/newsid_2025000/2025244.stm

June 4, 2002, Tax-News.com, by Robert Lee, FATF Members Likely To Miss Own Deadline, Says Report
http://www.tax-news.com/asp/story/story.asp?storyname=8377

June 3, 2002, Tax-News.com, by Amanda Banks, Bahamas Financial Services Minister Invites Suggestions For Legislative Review
http://www.tax-news.com/asp/story/story.asp?storyname=8374

May 29, 2002, Tax-News.com, Cato Institute Corrects NY Times On 'Patriotism' And Taxes
http://www.tax-news.com/asp/story/story.asp?storyname=8336

May 15, 2002, Guardian, By Charlotte Denny, UK seeks OECD shake-up: Bush's man stays away
http://www.guardian.co.uk/Archive/Article/0,4273,4413766,00.html

 

Best regards,

Andrew Quinlan
Center for Freedom and Prosperity
President
202-285-0244
208-728-9639 (efax)
quinlan@freedomandprosperity.org
www.freedomandprosperity.org

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