Tax havens: hole of international finance.The financial crisis again put on the table a chronic problem in Latin America: capital flight.Annual report released this January global financial integrity (GFI) NGO estimated $ 6.5 billion in the development of world lost in the black hole of illicit financial flows between 2000 and 2008.
This includes distortion of prices in international trade to tax evasion and corruption money", said BBC World GFI, Dev Kar, co-author with Karly Curcio, Chief Economist of the report.
Latin America is generously represented in the list of 10 emerging countries with higher led by China capital flight.
This period has doubled the illegal movement of capitals in the region: the annual average was nearly $ 105 billion (US$ 105.000.000.000).
Far from being popular or hollywoodesca image over illegal financial flows of the mafia and the drug-trafficking, most of this capital flight is responsible for legitimate economic agents: multi-million dollar, multinational financial institutions.
Chino: 2.18 billion Rusia: 427 billion México: 416 billion of $ Saudi Arabia: 302 billion of $ Malaysia: 291 billion of $ to Emirates Arab: 276 billion Kuwait: 242 billion of $ to the Venezuela: $ 157 billion Qatar: $ 138 billion Nigeria: 130 billion of $Source: Global financial integrity
The third country in the ranking of the overall financial integrity is the Mexico, and their major source of capital flight is the distortion of prices for large corporations.
And ranking of the 10 Nations clearly one thing: the vast majority - including two countries of Latin America – are oil producers.
According to Argentine economist George Blacklow, representing South America for international tax Justice (international tax justice), an NGO fighting for Justice and fiscal transparency data show that it is a structural phenomenon.
"This performance data are that it is a growing trend, but it did not vary with the expansion or contraction of the economy: is structural in nature." He y international financial engineering very oiled secrecy opacity and the bank providing tax havens, "he told BBC World Blacklow."
Economist adds to this flow of illegitimate funds should add the "hot money", so-called speculative money in and out of leading to financial instability.
The subject specialists contradict again for Hollywood in the development of the list of tax havens.
Mexico: 46 billion dollars per year
Venezuela: 17 billion dollars per year
Argentina: 10 billion per year
Chile: 8 billion dollars per year
Costa Rica: 4.4 billion dollars per year
Source: Global financial integrity
Overall financial integrity and Justice tax international agreement of the island paradise of millionaires, dictators and gangsters, the image is a simplification of the problem.
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Listed which have been composed the two organizations are among the State of Delaware top five to United States, Luxembourg, Switzerland and the city of London, accompanied by a Caribbean Haven: the Cayman Islands.
A few months after the fall of Lehman Brothers in April 2009, the g-20 announced end of paradise tax and some of its most eminent members as France President Nicolas Sarkozy spoke of the need for "capitalism will."
Today, all this rhetoric seems a pink film of the past.
"The conclusions we 2009 are provisional, but shows only the fall in economic activity affected the capital flight." "He was not any change important illegal circulation of money", he told BBC World Dev Kar.
The financial crisis in developed countries has put the issue on the table, but was shocked of interest and lobbying power in the higher areas of Western democracies.
Jorge Blacklow international tax JusticeIt can act at the level at the regional level, e.g. Mercosur level of influence in the G20 on the Argentina, the Brazil and the Mexico and global financial flows of tax taxes
According to an estimate that United States lost in these financial black holes $ 100 billion per year, approximately 50,000 France million, 30,000 Germany million and United Kingdom between 40 and 80 thousand million.
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If rich countries in spite of their tax problems have not failed in this situation, what scope than in Latin America?
According to Jorge Gaggero Governments have a scope limited, but still may act and tentatively, some are.
"We can act tax level, or regional agreements, such as Mercosur, or in international fora such as the G20, taking advantage of the presence of Argentina, Brazil, and Mexico", it calls Blacklow BBC world.
In the so-called "hot money" many Latin American countries have already taken steps to counterbalance your income and the impact on the local currency.
Tax level Mexico created a tax alleged the confidence of all, a legal instrument used most often for tax evasion.
Year past Chair Argentina Cristina Fernández and Chinese Hu Jin Tao has agreed to present a common position at the next Summit of the G20 in France, host Europe, resulting in a harsher position with tax havens.
"" In spite of internal contradictions that it within the g - 20, it would be interesting to use this scenario to make real progress on the theme ", said Blacklow.".
So far, in the social Summit in Dakar, this week launched a campaign to put an end to tax havens: the first phase of the campaign is the next G20 Summit.
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