SYDNEY and KUALA LUMPUR, Apr 01 (IPS) – Illicit financial flows (IFFs) hurt all countries, both developed and developing. But poor countries suffer relatively more, accounting for nearly half the loss of world tax revenue.
IFFs refer to cross-border movements of money and other financial assets obtained illegally at source, e.g., by corruption, smuggling, tax evasion, etc. This often involves trade mis-invoicing and transnational corporations’ (TNCs) transfer pricing via ‘creative’ accounting or book-keeping.
Read the full story, “UN Leadership Necessary for Fairer Tax Cooperation”, on globalissues.org →
BRAZIL: ‘Resistance Is Intergenerational, and Art Is How Energy Gets Renewed’ 
The Dollar-Gold Standard’s Lingering Demise 
The Global Leaders Network Pushes to Protect Women’s and Children’s Health 
The Takeaway: UN General Assembly debate Day 5 
Lavrov issues call for new Eurasian ‘security architecture’ 
Cuba warns against ‘law of the jungle’ as Foreign Minister denounces US pressure