Flows Global Regional and Domestic Policy Options Raymond Baker President Global Financial Integrity September 9 2014 Policy Themes Greater transparency in domestic and international financial transactions and ID: 254126
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Slide1
Curtailing Illicit Flows
Global, Regional, and Domestic Policy Options
Raymond Baker
President, Global Financial Integrity
September 9, 2014Slide2
Policy Themes
Greater transparency in domestic and international financial transactions, and
Greater cooperation between governments to shut down the channels through which illicit money flows.Slide3
Recommendations Include
Instituting transparency of company ownership; Building capacity to
effectively
implement
emerging tax information exchange
arrangements; and
Taking stronger legal measures against trade
misinvoicing
.Slide4
Curtailing Trade Misinvoicing
Legislation
Declarative Statement
Real-Time Access to Pricing Data
Audit
VerificationSlide5
Legislation
Adopt legislation making abusive trade misinvoicing, on any transaction with this country, wherever and however it is done, against the law.Slide6
Declarative Statement
In relation to the importation or exportation of goods or in relation to the importation or exportation or utilization of services or intangibles, there has been no misstatement of price, quantity, quality, volume, or other substantive term of invoice
i
) for the purpose of manipulating customs duties, VAT taxes, income taxes, excise taxes, or any other form of revenues collected by or to be collected by the Government, or ii) for the purpose of evading or violating banking, capital, or foreign exchange controls or anti-money laundering statutes or terrorist financing prohibitions.
___________________
Chief Executive OfficerSlide7
Real-Time Access to Pricing Data
Access to U.S. and E.U. trade pricing data on 25,000 Harmonized System categories of trade goods.Slide8
Audit Verification
Auditors required to sign a statement on audited accounts confirming that upon their examination and to the best of their ability to determine the Chief Executive Officer’s Declarative Statement
i
) has been fully complied with, or ii) has been or may have been violated in the following specified incidents [list].Slide9
Political WillPolitical Will
Political WillPolitical WillSlide10
Contact Information
Today’s Speaker:
Raymond Baker
President
Global Financial Integrity
rbaker@gfintegrity.org
+1 202 293 0740
Press Inquires:
Direct all press inquiries to:
Clark Gascoigne
Communications Director
Global Financial Integrity
cgascoigne@gfintegrity.org
+1 202 815 4029
www.gfintegrity.org