Change, Dependency, and Regime Plasticity in Offshore Financial Intermediation: the As Ga of the Netherlands Antilles Craig M
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
The Power of States and Business: Explaining
Ref. Ares(2017)5230581 - 26/10/2017 The power of states and business: Explaining transformative change in the fight against tax evasion and avoidance The Power of States and Business v2.0 19 September 2017 Document Details Work Package WP3 Lead Beneficiary University of Bamberg Deliverable ID D3.2 Date 05, 03, 2017 Submission 07, 28, 2017 Dissemination Level PU – Public / CO – Confidential / CI – Classified Information Version 1.0 Author(s) Lukas Hakelberg University of Bamberg Political Science [email protected] Acknowledgements The project “Combatting Fiscal Fraud and Empowering Regulators (COFFERS)” has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 727145. Document History Date Author Description 03-05-2017 Lukas Hakelberg First draft 19-09-2017 Lukas Hakelberg Second draft Page 2 of 52 The Power of States and Business v2.0 19 September 2017 Contents Document Details 2 Acknowledgements 2 Document History 2 Contents 3 Executive Summary 4 1. Introduction 5 2. Power in International Tax Policy 7 3. Post-Crisis Initiatives Against Tax Evasion and Avoidance 15 3.1 The Emergence of Multilateral AEI 16 3.1.1 Points of Departure: Savings Directive and Qualified Intermediary Program 16 3.1.2 Setting the Agenda: Left-of-Center Politicians and Major Tax Evasion Scandals 17 3.1.3 Towards New Rules: Legislative Initiatives in Europe and the US 20 3.1.4 The Role of Domestic Interest Groups: Tax Evaders and Financial Institutions 22 3.1.5 Reaching International Agreement: From Bilateral FATCA Deals to Multilateral AEI 25 3.2 Incremental Change in the Fight against Base Erosion and Profit Shifting 28 3.2.1 Points of Departure: Limiting Taxation at Source Through Transfer Pricing 28 3.2.2 Setting the Agenda: Starbuck’s and the Inclusion of Emerging Economies 30 3.2.3 Towards New Rules: The BEPS Report’s Ambiguous Recommendations 32 3.2.4 The Role of Interest Groups: In Defense of the Arm’s Length Principle 33 3.2.5 Reaching International Agreement? Ongoing EU-US Bargaining over BEPS 36 4. -
St. Eustatius (Statia)
St. Eustatius (Statia) Overview: Sint Eustatius, also known as Statia, is one of the islands which make up the Netherlands Antilles. Over its long history, it changed hands more than 20 times. The island has remained in Dutch hands since 1816. Vocanic in origin, and quite rugged along the coastal areas, it was once one of the busiest and most powerful commercial ports in the Caribbean. As a result of the British blockade during America's Revolutionary War, most goods destined for the new colonies flowed into St. Eustatius. It was not uncommon to see hundreds of supply ships off Oranjestad. When that war ended and mail and supplies were sent directly to the new United States, the economy of St. Eustatius changed dramatically. According to tradition, it was the first foreign port to salute (1776) the American flag. Tourism is the major industry today, and the island is a favorite destination for scuba diving aficionados and nature lovers. Territory: Highest point = Mt. Mazinga, 1,968 ft. (602m) St. Eustatius is hilly with a central flat plain. Sandy beaches are rare. Geographically, the island is saddle- shaped, with the 602 meter-high Mount Mazinga, colloquially called the Quill (a dormant volcano) to the southeast and the smaller pair Signal Hill/Little Mountain and Boven Mountain to the northwest. The bulk of the island's population lives in the "dip" between the two areas, which crosses the center of the island. The island is just 5 miles long and 2 miles wide; area: 21 sq. km. Location: It is in the northern, Leeward Islands portion of the West Indies, some distance southeast of the Virgin Islands. -
'Good Governance' in the Dutch Caribbean
Obstacles to ‘Good Governance’ in the Dutch Caribbean Colonial- and Postcolonial Development in Aruba and Sint Maarten Arxen A. Alders Master Thesis 2015 [email protected] Politics and Society in Historical Perspective Department of History Utrecht University University Supervisor: Dr. Auke Rijpma Internship (BZK/KR) Supervisor: Nol Hendriks Introduction .............................................................................................................................. 2 1. Background ............................................................................................................................ 9 1.1 From Colony to Autonomy ......................................................................................................... 9 1.2 Status Quaestionis .................................................................................................................... 11 Colonial history .............................................................................................................................. 12 Smallness ....................................................................................................................................... 16 2. Adapting Concepts to Context ................................................................................................. 19 2.1 Good Governance ..................................................................................................................... 19 Development in a Small Island Context ........................................................................................ -
Making the Best of EU's Single Market
Vincent Aussillouxa, Agnès Bénassy-Quéréb, c d French Council of Economic Analysis Clemens Fuest and Guntram Wolff Making the Best of EU’s Single Market Les notes du conseil d’analyse économique, no 38, February 2017 he slow-down in productivity and income over the long-term investment in the energy transition without past decade has weakened the European Union’s overly hurting EU firms’ competitiveness. output legitimacy, which is grounded in delivering T To further stimulate investment, especially in innovative prosperity to its citizens. At the same time, decreasing growth reduces the capacity of governments to maintain sectors, we suggest moving ahead decisively with the capi- existing levels of welfare protection and translates into a tal markets union agenda. In parallel, the use of EU funds perception of rising unfairness and inequality across and should be reviewed taking into account the objectives within EU countries. of economic convergence, spillovers between member It is estimated that remaining non-tariff obstacles, in states and solidarity. particular in services sectors, limit intra-EU trade to a EU national governments are responsible for welfare- level about four times smaller than the intensity of trade related redistribution. However EU policies can help by between US states. By completing the single market, the empowering member countries to address the possible EU could generate significant income gains. However the more straightforward steps have already been taken, effects of EU integration, or by developing EU-wide ins- so the single market agenda now touches upon specific truments to limit its impact on possible losers. We argue domestic regulations in EU countries. -
Irish Diplomacy in Time of Crisis and the Evolution of a 'European
EUSA Fourteenth Biennial Conference March 5-7, 2015 Boston Massachusetts Ben Tonra UCD School of Politics and International Relations [email protected] Irish Diplomacy in Time of Crisis and the Evolution of a ‘European’ diplomatic service1 Abstract The foreign policies of several European states have been centrally engaged in national crisis management subsequent to the crisis in the euro-zone. In several instances this has included determined efforts to rebuild national credibility, intensively to engage with bilateral partners and multilateral agencies both in Europe and internationally and actively to contribute to trade promotion and the attraction of foreign direct investment as part of a programme of national economic recovery. In such a context, where a national diplomatic service is tasked with roles that can be seen to be addressing a near existential crisis for the state, what if any role does foreign policy coordination at EU level play? If such coordination played a marginal role or was non-existent, what does this say about the utility and purpose of EU foreign policy? To what extent does this necessarily delimit or define the potential added-value of the EEAS to national diplomatic services? The proposed paper will conduct a detailed analysis of Irish diplomacy in a time of crisis (2008-2014), 1 This a draft paper submitted for comment and discussion and as such is a work in progress. Please do not cite in other published works withjout contacting the author. 1 assess its response to that crisis, evaluate the role of EU-level foreign policy coordination and finally offer conclusions as to what this may suggest for the future of EU foreign policy. -
The Value of Nature in the Caribbean Netherlands
The Economics of Ecosystems The value of nature and Biodiversity in the Caribbean Netherlands in the Caribbean Netherlands 2 Total Economic Value in the Caribbean Netherlands The value of nature in the Caribbean Netherlands The Challenge Healthy ecosystems such as the forests on the hillsides of the Quill on St Eustatius and Saba’s Mt Scenery or the corals reefs of Bonaire are critical to the society of the Caribbean Netherlands. In the last decades, various local and global developments have resulted in serious threats to these fragile ecosystems, thereby jeopardizing the foundations of the islands’ economies. To make well-founded decisions that protect the natural environment on these beautiful tropical islands against the looming threats, it is crucial to understand how nature contributes to the economy and wellbeing in the Caribbean Netherlands. This study aims to determine the economic value and the societal importance of the main ecosystem services provided by the natural capital of Bonaire, St Eustatius and Saba. The challenge of this project is to deliver insights that support decision-makers in the long-term management of the islands’ economies and natural environment. Overview Caribbean Netherlands The Caribbean Netherlands consist of three islands, Bonaire, St Eustatius and Saba all located in the Caribbean Sea. Since 2010 each island is part of the Netherlands as a public entity. Bonaire is the largest island with 16,000 permanent residents, while only 4,000 people live in St Eustatius and approximately 2,000 in Saba. The total population of the Caribbean Netherlands is 22,000. All three islands are surrounded by living coral reefs and therefore attract many divers and snorkelers. -
Tax Heavens: Methods and Tactics for Corporate Profit Shifting
Tax Heavens: Methods and Tactics for Corporate Profit Shifting By Mark Holtzblatt, Eva K. Jermakowicz and Barry J. Epstein MARK HOLTZBLATT, Ph.D., CPA, is an Associate Professor of Accounting at Cleveland State University in the Monte Ahuja College of Business, teaching In- ternational Accounting and Taxation at the graduate and undergraduate levels. axes paid to governments are among the most significant costs incurred by businesses and individuals. Tax planning evaluates various tax strategies in Torder to determine how to conduct business (and personal transactions) in ways that will reduce or eliminate taxes paid to various governments, with the objective, in the case of multinational corporations, of minimizing the aggregate of taxes paid worldwide. Well-managed entities appropriately attempt to minimize the taxes they pay while making sure they are in full compliance with applicable tax laws. This process—the legitimate lessening of income tax expense—is often EVA K. JERMAKOWICZ, Ph.D., CPA, is a referred to as tax avoidance, thus distinguishing it from tax evasion, which is illegal. Professor of Accounting and Chair of the Although to some listeners’ ears the term tax avoidance may sound pejorative, Accounting Department at Tennessee the practice is fully consistent with the valid, even paramount, goal of financial State University. management, which is to maximize returns to businesses’ ownership interests. Indeed, to do otherwise would represent nonfeasance in office by corporate managers and board members. Multinational corporations make several important decisions in which taxation is a very important factor, such as where to locate a foreign operation, what legal form the operations should assume and how the operations are to be financed. -
Closer Ties: the Dutch Caribbean and the Aftermath of Empire, 1942-2012
City University of New York (CUNY) CUNY Academic Works All Dissertations, Theses, and Capstone Projects Dissertations, Theses, and Capstone Projects 6-2017 Closer Ties: The Dutch Caribbean and the Aftermath of Empire, 1942-2012 Chelsea Schields The Graduate Center, City University of New York How does access to this work benefit ou?y Let us know! More information about this work at: https://academicworks.cuny.edu/gc_etds/1993 Discover additional works at: https://academicworks.cuny.edu This work is made publicly available by the City University of New York (CUNY). Contact: [email protected] CLOSER TIES: THE DUTCH CARIBBEAN AND THE AFTERMATH OF EMPIRE, 1942-2012 by CHELSEA SCHIELDS A dissertation submitted to the Graduate Faculty in History in partial fulfillment of the requirements for the degree of Doctor of Philosophy, The City University of New York 2017 © 2017 CHELSEA SCHIELDS All Rights Reserved ii Closer Ties: The Dutch Caribbean and the Aftermath of Empire, 1942-2012 by Chelsea Schields This manuscript has been read and accepted for the Graduate Faculty in History in satisfaction of the dissertation requirement for the degree of Doctor of Philosophy. Professor Dagmar Herzog ______________________ _________________________________________ Date Chair of Examining Committee Professor Helena Rosenblatt ______________________ _________________________________________ Date Executive Officer Professor Mary Roldán Professor Joan Scott Professor Todd Shepard Professor Gary Wilder Supervisory Committee THE CITY UNIVERSITY OF NEW YORK iii Abstract Closer Ties: The Dutch Caribbean and the Aftermath of Empire, 1942-2012 by Chelsea Schields Advisor: Professor Dagmar Herzog This dissertation examines the unique trajectory of decolonization in the Netherlands and its former Caribbean colonies and argues that sexual and reproductive politics have played a pivotal role in forging a postcolonial commonwealth state. -
Nature Policy Plan the Caribbean Netherlands
Nature Policy Plan The Caribbean Netherlands Nature Policy for the Caribbean Netherlands 2013-2017 Nature Policy Plan The Caribbean Netherlands 2013 - 2017 Contents A | Introduction A Introduction 3 Aruba, Curaçao, St. Maarten, Bonaire, Saba and St. Eustatius Process 4 Policy Objective and Function 4 form the Dutch Caribbean within the Kingdom of the Netherlands. The Kingdom of the Netherlands is a B The Caribbean Netherlands in Context 8 1 Nature and Biodiversity 8 comprehensive sovereign state made up of four countries 2 Threats 8 3 Nature as an Economic Resource 10 of which the Netherlands is one. Aruba, Curaçao, and 4 Legal Framework 10 St. Maarten each form one of the three remaining constituent C Roles and responsibilities 14 countries, while the other islands, Bonaire, St. Eustatius, and 1 National Government 15 2 The Island Governments 15 Saba, are Dutch overseas public bodies and as such are part 3 Non-Governmental Nature Conservation Organisations (NGOs) 16 4 International Cooperation 16 of the country of the Netherlands. Collectively these three islands are known as the Caribbean Netherlands and are the D Resources 20 1 National Governement 20 focus of the present Nature Policy Plan. Where possible, 2 Local 21 3 Donations 22 this Nature Policy Plan will be implemented in line with the E Strategy and goals 24 Nature Policy Plans of the other constituent countries of 1 Mainstreaming 24 2 Nature Management 24 the Kingdom. 3 Strategic goals and actions 33 The Dutch Caribbean islands show great biological diversity and support hundreds of endemic species and ecosystems some of which are globally threatened. -
Bibliography
Bibliography Adams, Ann (1994). 'Citizenship and identity: competing identities in seventeenthcentury Dutch landscape' in WTJ Mitchell (ed.) Landscape and Power (Chicago) University of Chicago Press Adams, Douglas (29/03/1978). The Hitch-Hikers' Guide to the Galaxy [radio broadcast] Fit the Fourth (London) British Broadcasting Corporation, Radio 4 Adams, Julia (1996). 'Principals and agents, colonists and company men: the decay of colonial control in the Dutch East Indies' American Sociological Review 61(1): 1228 Addy, Sydney Oldall (1910 [1898]). The Evolution of the English House (London) Allen & Unwin Agnew, John (1993). 'Representing space: space, scale and culture in social science' in James Duncan and Donal Ley (eds.) Place/Culture/Representation 251271 (London) Routledge Akveld, Leo and Jacobs, Els. M. (2002). De Kleurrijke Wereld van de VOC: National Jubileumboek VOC 1062 - 2002 (Bussum, Netherlands) Uitgevery Thoth Albrecht, Heike (1996). Baudenkmale in Niedersachsen Landreis Landkreis Stade Denkmaltopographie Bundesrepublik Deutschland: Baudenkmale in Niedersachsen 26.1 (Braunschweig) Vieweg Alcock, N.W. et al (1996). Recording Timber-framed Buildings (York) Council for British Archaeology Alcock, N. W. and Hall, Linda (1994). Fixtures and Fittings in Dated Houses 1567-1763 Practical Handbook in Archaeology 11 (York) Council for British Archaeology Ali, Jamal (1997). 'Symbolic space' in Paul Oliver (ed.) The Encyclopaedia of Vernacular Architecture of the World 5913 (Cambridge) Cambridge University Press Alkhoven, (nd.). 'The Changing Image of the City' http://www.library.uu.nl/digiarchief/dip/diss/01754573/heusden1.htm #18. Page consulted 7/5/2001 Allison, Penelope (1999). 'Introduction' in Penelope Allison (ed.) The Archaeology of Household Activities 118 (London) Routledge Alnæs, Eyvind et al (1950). -
Tax Avoidance and Multinational Firm Behavior Scott Dyreng Duke
Tax Avoidance and Multinational Firm Behavior Scott Dyreng Duke University Michelle Hanlon MIT COMMENTS WELCOME Abstract: In this chapter we review, and at times extend, the literature on multinational corporate income tax avoidance and its consequences. It is first important to note that multinational corporations pay a substantial amount of taxes, both direct and indirect. Yet, it is also the case that there is evidence 1) of tax avoidance, including cross-jurisdictional income shifting, 2) that tax avoidance is increasing over time, and 3) that the location of ‘real’ items such as investment, debt, and employment are sensitive to taxation. In addition, in certain cases the altering of structures to avoid taxation necessitates more changes to ‘real’ activity. We observe that while there is evidence of income shifting, the literature is not settled on the extent to which this occurs. We briefly touch on the financial accounting and reputational incentives and disincentives for tax avoidance. We end with a short discussion of the early research following recent tax regime changes. This paper will be a chapter in the International Tax Policy Forum/Brookings Institution forthcoming book entitled “Multinational Corporations in a Changing Global Economy.” We thank the editors, Fritz Foley, Jim Hines, and David Wessel for comments on an earlier draft. We also thank Rebecca Lester, Kevin Markle, Terry Shevlin, and Nemit Shroff for comments. 1. Introduction In this chapter we review, and at times extend, research that examines tax avoidance by multinational corporations (MNCs) and how MNCs’ investing, financing, accounting, and other practices are influenced by taxes and by tax avoidance behavior. -
Tesi Di Laurea
Corso di Laurea Magistrale in Amministrazione, finanza e controllo ex D.M. 270/2004 Tesi di Laurea BEPS Action 2 Hybrid Mismatch Arrangements Relatore Ch. Prof. Marco Ernesto Bagarotto Laureando Davide Sartori Matricola 833416 Anno Accademico 2016 / 2017 2 Alla mia famiglia ed alla mia fidanzata, grazie al cui aiuto questo percorso è stato possibile. 3 4 Indice Introduzione .................................................................................................................................. 7 Il Progetto BEPS OCSE (Base Erosion and Profit Shifting ) ......................................................... 11 1.1. Le origini del progetto BEPS ....................................................................................... 11 1.2. Inquadramento dei fenomeni di BEPS ....................................................................... 18 1.2.1. Alcuni numeri riguardanti i BEPS ........................................................................ 26 1.2.2. Un esempio di BEPS : Il “ Double Irish with Dutch Sandwich ” ............................ 29 1.3. Le quindici Actions a contrasto dei BEPS ................................................................... 33 1.3.1. Action 1: Addressing the Tax Challenges of the Digital Economy ..................... 36 1.3.2. Action 2: Neutralising the Effect of Hybrid Mismatch Arrangements .............. 38 1.3.3. Action 3: D esigning Effective Controlled Foreign Companies Rules ................. 39 1.3.4. Action 4: Limiting Base Erosion Involving Interest Deductions and Other