Ethics and governance in the European Financial centers

Mr Drago KOS, President of the Group of States against Corruption, on the occasion of the International Anti-corruption Day provided a statement where he underlines that there is evidence that high levels of corruption still permeate society and public institutions in some of GRECO members. It is disturbing to realise that renowned companies have been found to have paid massive bribes to win or retain business.

This mixed picture clearly compels the GRECO to remain vigilant, to vigorously support compliance with high standards of integrity, and to fight impunity where it occurs.

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Switzerland lives up to its reputation as a tax haven for companies, according to a report published & couple of days ago by the World Bank and professional services firm PricewaterhouseCoopers (PwC), that rated countries according to how much tax businesses were charged.

The "Paying Taxes 2008" is a study that provide with information relating to 178 countries.

The report concludes that more transparency and simplification is needed in tax reporting systems. Simplifying the tax system can encourage compliance and more transparency can help governments recognize the full contribution of businesses toward tax revenues

Read article Study confirms Switzerland as tax paradise

Know more about the Paying Taxes 2008 study

IASB received a formal complaint about its report into NGOs and is attacked by political campaigners and investors over the segmental reporting standard IFRS 8.


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