Finances and Taxes

In the Financial Secrecy Index published today, Switzerland continues to perform very poorly. Yet, the federal authorities in Bern continue by every means to defend the local financial centre as a contact point for oligarchs, a hotspot for criminal private banks, and a protected space for shady investment advisers. As early as next week, the National Council will again have an opportunity to reverse its position.

The Swiss financial centre has demonstrated that it will not voluntarily give up business involving environmental degradation abroad. The Financial Centre Initiative aims to amend the Constitution to include a ban on new investments in coal, oil and gas by Swiss financial market players.

The Pontifical Academy of Social Sciences hosted a meeting on tax justice and solidarity. Yet what hovered above attendees was not the Holy Ghost, but Donald Trump.

Everlyn Muendo is following the UN negotiations for a framework convention for international cooperation in tax matters on behalf of the Tax Justice Network Africa (TJNA). In this interview, she analyses the current developments in the process in New York and explains why there is no longer any alternative to the UN for the Global South when it comes to international tax policy. Interview: Dominik Gross

Without the polluter-pays principle, international climate policy cannot be funded – without tax justice, it is not feasible. A mini-world tour with an unequal but perhaps soon symbiotic duo.

Next week ushers in another round of negotiations on a Framework Tax Convention at the UN headquarters in New York. Recently, the Swiss Cantons of Basel City and Zug, noted for their low corporate tax rates, again provided new material illustrating why this is an absolute necessity.

To align themselves with the Paris Agreement, banks have established and extolled the virtues of voluntary climate alliances. A recent European Central Bank study shows them to be ineffective.

Negotiations are now in progress at the UN on the future drafting of the Framework Convention on International Cooperation in Tax Matters. Our tax policy expert was on hand, and was impressed by the negotiating strength of the African countries.

In November, a large majority of UN member states agreed to a UN Framework Convention on Taxation. In the run-up, our tax policy expert toured the city of New York and the institution.