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$1.5 trillion of assets move through the British Virgin Islands twice as much...
by Camilla Hodgson (Business Insider)
Assets held offshore in the British Virgin Islands (BVI) are worth $1.5 trillion (£1.19 trillion), double the International Monetary Fund's 2010 estimate. That's according to a new report by Capital Economics, seen by the Financial Times.
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Disappointed by Failed VAT Proposal, Scicluna Reviews Maltas EU Presidency
by Teri Sprackland (Tax Notes)
The lack of agreement on an e-book VAT proposal was both a surprise and a disappointment, Edward Scicluna, president of the Economic and Financial Affairs Council, told members of the European Parliament (MEPs) during a June 19 meeting of the Committee on Economic and Monetary Affairs.
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Bribes, Borders and Middlemen: Why India's GST Is a Game Changer
by Iain Marlow and Enda Curran (Bloomberg)
Seized vehicles. Bribes. Days-long delays. Moving goods across Indian states isn’t exactly easy -- and that’s a major barrier to economic growth.
Rolling a truck of vegetables into Gujarat, the state once governed by Prime Minister Narendra Modi, requires a bribe of 500 rupees to 2,000 rupees even with your papers in order, according to Rakesh Kaul, vice-president of Caravan Roadways Ltd., which has about 400 trucks plying India’s pot-holed roads.
Rolling a truck of vegetables into Gujarat, the state once governed by Prime Minister Narendra Modi, requires a bribe of 500 rupees to 2,000 rupees even with your papers in order, according to Rakesh Kaul, vice-president of Caravan Roadways Ltd., which has about 400 trucks plying India’s pot-holed roads.
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