U.S. is becoming world’s new tax haven

first_imgThe U.S. was expected to reciprocate, by sharing data on the accounts of foreign taxpayers with their respective governments.Yet Congress rejected the Obama administration’s repeated requests to make the necessary changes to the tax code.As a result, the Treasury cannot compel U.S. banks to reveal information such as account balances and names of beneficial owners.The U.S. has also failed to adopt the so-called Common Reporting Standard, a global agreement under which more than 100 countries will automatically provide each other with even more data than FATCA requires.While the rest of the world provides the transparency that the U.S. demanded, the U.S. is rapidly becoming the new Switzerland.Financial institutions catering to the global elite, such as Rothschild & Co. and Trident Trust Co., have moved accounts from offshore havens to Nevada, Wyoming and South Dakota.New York lawyers are actively marketing the country as a place to park assets. A Russian billionaire, for example, can put real-estate assets in a U.S. trust and rest assured that neither the U.S. tax authorities nor his home-country government will know anything about it.That’s a level of secrecy that not even Vanuatu can offer.From a certain perspective, all this might look pretty smart: Shut down foreign tax havens and then steal their business. That would be the kind of thinking that’s undermining America’s standing in so many areas, from trade to climate change.Instead of using its power to establish an equitable system of global governance, it’s demanding a standard from the rest of the world that it refuses to apply to itself.That isn’t leadership.More from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen? Seven years ago, the U.S. led an effort to address a problem facing governments everywhere.Each year, people manage to avoid paying an estimated $2.5 trillion in income tax — a giant sum that could be used to combat poverty, update infrastructure or lower tax rates for law-abiding citizens.Now, however, the U.S. is becoming one of the world’s best places to hide money from the tax collector. It’s a distinction the country would do well to shed.In 2009, amid growing budget deficits and a tax-fraud scandal at Swiss bank UBS AG, the Group of 20 developed and developing nations came to an agreement:They would no longer tolerate the network of havens, shell companies and secret accounts that had long abetted tax evasion.A year later, the U.S. passed the Foreign Account Tax Compliance Act, which required foreign financial institutions to report the identities and assets of potential U.S. taxpayers to the Internal Revenue Service.Under threat of losing access to the U.S. financial system, more than 100 countries — including such traditional havens as Bermuda and the Cayman Islands — are complying or have agreed to comply.center_img Categories: Editorial, OpinionThe following editorial appears on Bloomberg View:last_img read more

Peru’s ginger exports soar during pandemic

first_imgPeru said Wednesday its exports of ginger almost tripled during the coronavirus pandemic, as the spice is seen as a natural immune system booster.Ginger shipments showed “sustained growth of 168 percent in the first quarter” compared to the same period in 2019, the ministry of commerce announced.Most of the exports went to Spain, the Netherlands and the United States. Experts have cautioned there is no definitive evidence that home remedies such as ginger can treat or cure an infection from the novel coronavirus. Ginger is a traditional remedy for colds and influenza in Peru, the world’s fourth-largest exporter after China, Thailand and India. In 2019, it exported 23,400 tons of ginger for $41.5 million.The Andean country has the second highest number of COVID-19 infections in South America after Brazil, with more than 208,000 cases — and the third-highest number of deaths, more than 5,900. Topics :center_img Spanish imports of Peruvian ginger increased more than 500 percent.Ginger, also known as kion in Peru, is rich in antioxidants and has medicinal benefits such as “strengthening the immune system,” the ministry said in a statement.”This last reason is likely to explain the increase in consumption given this pandemic scenario.” Ginger with lemon juice in tea and other hot drinks is one of the most widely cited natural remedies on social media since the pandemic erupted.last_img read more

National Public Lands Day, 2015

first_imgNational Public Lands Day, 2015 Proclamations Governor Wolf Proclamation — National Public Lands Day, 2015 by Governor Tom Wolf Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf August 26, 2015 SHARE Email Facebook Twitterlast_img

The Comeback Kid!

first_img‘Candy Man’ Hardy makes ring-return against Eric Moon tonightBy Rawle Toney in New YorkWITH the legendary Colin Morgan in his corner, Guyana’s Simeon ‘Candy Man’ Hardy will make a comeback tonight after being away from the sport for approximately two years, when he faces American Eric Moon.The super middleweight fight will take place in Atlanta Georgia, at the famous Buckhead Fight Club.Moon, 26, undefeated in four outings, winning all of his fights by TKO, is said to be one of USA’s up-and-coming fighters.Hardy’s last outing in the ring was against Vito Gasparyan when he suffered a Unanimous Decision loss, despite a good showing against the Armenian.The defeat to Gasparyan was Hardy’s first blemish, which puts his ring-record at 13 wins from 14 outings.Ten of his wins came from knocking his opponents out, using his notorious right hand.The 30-year-old Hardy, who hails from Sophia, is tipped to be Guyana’s next world champion.With constant improvement in the ring since moving to the U.S. he is travelling the path to live up to that expectation.Before migrating, Hardy had kayoed Iwan Azore to win the vacant WBC Caribbean Boxing Federation (CABOFE) welterweight title at the Cliff Anderson Sports Hall.Hardy’s last fight in Guyana was against Howard Eastman in 2012 where he picked up a Majority Decision win after out-boxing the former Commonwealth middleweight champion.last_img read more

Too soon for Barber to cut career short

first_imgThe leading rusher in the National Football League is “leaning toward” retirement and he has “pretty much” made up his mind. All-pro running back Tiki Barber has been hinting at calling it quits for years now — but apparently this time he means business. The Giants’ all-time leading rusher has never just been about football; in fact Barber has always taken pride in being much more than just a football player. He already hosts a segment of the Fox’s Tuesday morning news, and Barber co-authored a children’s book with his twin brother Ronde.All that’s fine and dandy, and there is nothing wrong with broadening your horizons, but Tiki Barber is a damn good football player and with a few more quality years he can solidify himself as a bona fide hall of famer. According to Barber’s agent, he feels he has perfected his craft and does not need a Super Bowl ring to etch himself alongside the NFL’s all time best running backs. Barber has never been about personal accolades nor does he care for what his few critics have to say, but if Barber prematurely walks away from the game he will be making the biggest mistake of his career.The 31-year-old Barber is in his 10th season with the Giants, and he was named to the Pro Bowl each of the last two years.Last season Barber rushed for a career-high 1,860 yards and caught 54 passes for 530 yards for the second-highest single-season yards total in league history. Also, his 8,870 yards from scrimmage is the most in the NFL since 2002.For the last six seasons Barber has been the heart and soul of the New York football Giants, and without him the Giants would have never won the NFC championship in 2001 nor would they have had playoff appearances in 2002 and 2005 — but Tiki Barber still has a lot to prove. Barber has never been named the league’s MVP, and in six postseason games Barber has amassed only 338 rushing yards and one touchdown, including a dismal 49-yard rushing performance against the Ravens in Super Bowl XXXV. Last season Barber’s G-Men put up a goose egg against Panthers in the opening round of the playoffs, and instead of holding himself accountable for his 69 total yards, Barber shifted attention to the coaching staff.I’m not trying to start a “he can’t get it done in the big spot” A-rod controversy, but if Tiki thinks he has had a complete career to this point then he is severely misguided.In today’s sporting world it is no secret you are defined by the rings on your fingers not by the stats you have accumulated. Tiki is one of the greatest backs in the game today but he is not Jim Brown or Barry Sanders, and without a Super Bowl ring his impressive career numbers will be forgotten by all, except for the current era of NFL fans who are privileged enough to watch him play.Being the best running back in Giants’ history is a nice feat for someone who has only been the every down back for six seasons — but Tiki deserves to be remembered as more than just the best player at his position in team history.Tiki has been defying the odds since the undersized back broke into the league with his 200-pound frame. Tiki refused to be regulated to a third down back and kickoff returner and earned the respect of then head coach Jim Fassel to become the team’s go-to player, in and out the backfield. Tiki is on pace to have his fifth straight year with more than 1,200 rushing yards and his seventh 1,000-yard season. Tiki has finally been getting the respect he deserves over the past few seasons, and to walk away after this season would be throwing away the opportunity to leave his mark on the National Football League.Maybe Tiki doesn’t want to be in the spotlight and maybe he would be rather be forgotten than remembered, but to leave now would be depriving future generations the chance to learn about one of the most hard-working and talented players in today’s game. Plain and simple, Tiki needs to pull his head out of his confused rear end and recapture the competitive drive that got him this far. Barber is the king of New York, playing on a young, talented team with a bright future. Why say only one more year when the Giants look primed to make a run at the Vince Lombardi trophy in the near future? With the development of Eli Manning occurring faster than anticipated and talented weapons at all the skill positions, Barber could be the face of the NFL within a few years.Tiki is only 31 years old and despite the short life of tail backs in the NFL, Barber has gotten better with age. Tiki has increased his production each of the last three seasons, and he has shown no signs of age or fatigue catching up with him in the early going of 2006. If Barber were to walk away with two years on his contract he would be leaving $8.3 million on the table to pursue an extremely less lucrative job in television or book writing. What Barber seems to overlook is that those opportunities will always be available to him because of his talent and notoriety, but his window as an NFL running back is getting smaller by the day. What is most shocking about Barber’s retirement news is the way Tiki made his plans public. Barber wouldn’t commit to saying his retirement was 100 percent, but he did say nothing would change his mind. In any event, what does Barber gain from announcing his retirement before he is 100 percent sure that he is walking away?The Giants have a team loaded with hotheads such as Plaxico Burress and Jeremy Shockey who account for enough distractions throughout the course of the year. Barber’s retirement plans are simply an unnecessary distraction to the Giants, and the news has only added to the already daunting pressure on the players and coaches who will be looking to win a Super Bowl before their most prolific offensive player moves into the broadcast booth. Tonight the Giants will square off against the Dallas Cowboys in a pivotal division match-up, with the whole country looking on. Hopefully, for Tiki’s sake, somewhere in the middle of a patented game-breaking run he will snap out of it and realize exactly what he plans on throwing away.Andrew is a junior majoring in journalism. To share your thoughts on Tiki Barber, e-mail him at akluger@badgerherald.com.last_img read more

UW ready to prove its strength at Adidas Invitational

first_imgSet to host one of the nation’s premier regular-season meets before heading into the latter stages of their season, Saturday’s Adidas Invitational will serve as a benchmark to where the Wisconsin men’s cross country team stands on the national level.Held at Thomas Zimmer Cross Country course in Verona, the meet will feature stiff competition for the 20th-ranked Badgers that are fighting to remain a national cross-country powerhouse. Of the 30 ranked teams in the nation, 19 will be in Saturday’s competition, including top-10 opponents Northern Arizona, Brigham Young, Arkansas, Portlan and Columbia.For the Badgers, it will be a time to prove that despite losing five All-Americans from last season’s national runner-up squad, the team has enough depth to continue their streak of 11 straight Great Lakes NCAA Regional titles, 14 straight Big Ten titles and an NCAA record of 41 consecutive national championship appearances. A legacy so steeped in tradition won’t fade away just so easily, according to head coach Mick Byrne.“Yes, if you were to believe what social media pundits are saying about the University of Wisconsin, we’re down and we’re out. But I certainly don’t come to work every day believing that,” Byrne said at a press conference Monday.Byrne is very enthusiastic about the young core of Badger runners, highlighting freshmen Carl Hirsch and Ryan Kromer along with redshirt freshman Malachy Schrobilgen. The trio of first-year runners believe they are prepared to compete at the national level.“Right now we have a lot of guys around the same fitness and ability level. Guys finishing all the workouts together. It’s hard to figure out who’s going to be the number one, number two, number three,” Schrobilgen said. “This race will help us find out who’s doing the right things, making sure they’ve been taking care of themselves.”The meet will undoubtedly serve as a true gauge for where the Badgers stand on a national level, but the team does not see Saturday’s race as the end-all, say-all in terms of the remainder of the season.“I think this meet is a turning point in our season. We’re gunning to keep those streaks alive,” Schrobilgen said. “We want to gain some confidence out of this race and parlay that into the next couple races. But anything we do in this race won’t directly affect the results of those races.”Though many of the faces are different for the Badgers this year, running on their home turf is an opportunity they have to show they are still in the position to be one of the elite teams in the country.“They know it’s Adidas Week,” Byrne said. “It just means a different atmosphere around the locker room, out on the practice field, and the kids are very excited about it.”Saturday afternoon the fifth annual Adidas Invitational is an eight-kilometer race starting at 11 a.m. The women’s cross-country team will also be in competition, with their six-kilometer race beginning at 12 p.m.last_img read more

Change of date for Munster Minor semi-final

first_imgThe original fixture was due to go ahead on July 1st.However this only left a five day break for Tipp’s several dual players who would be playing in the Munster minor football final against Kerry.last_img

Black Stars to win 3-0 or lose 2-1? Ghanaians predict scoreline of match against South Africa [VIDEO]

first_imgSome Ghanaians have shared their predictions for the game between the Black Stars and South Africa tonight.The two teams face off at Cape Coast stadium tonight in a 2021 AFCON qualifier.Before the match, some people shared their thoughts on the two teams to Citi Sports.While some believed that the Black Stars had a strong enough team to get a good result against the Bafana Bafana, others believed that the side will start the qualifying campaign off with defeat. “My prediction is 2-1 against Ghana because I don’t like the coach. He doesn’t know what he’s doing,” one person said.Another more optimistic fan predicted: “We are going to beat South Africa by two goals to one, with Dede [Ayew] scoring one and his brother [Jordan] scoring the other.Watch the full video below:READ ALSO: Fans troop to Cape Coast stadium ahead of Black Stars’ match against South Africa [PHOTOS] Ghana XI vs South Africa: Gideon Mensah, Iddrisu Baba handed debutsAndre Ayew set to make 85th appearance for Black Stars against South Africalast_img read more

Doctors clear Woods to swing golf clubs

first_imgTiger WoodsLos Angeles, United States | AFP | Doctors have given Tiger Woods the green light to swing a club again as the 14-time major championship winner takes aim at a return to professional golf.The 41-year-old American received medical clearance to start practising and tweeted a video Thursday of him hitting balls with a pitching wedge.“(Doctor) gave me the OK to start pitching,” Woods’ wrote.Woods last played in a competitive tournament at the Dubai Desert Classic in January.He withdrew from the event with back spasms and underwent back surgery for the fourth time in April. Since that time, he has said that he wants to get back to golf but there is no timetable for his return.Woods was arrested for driving under the influence near his home in Florida in May. Toxicology reports revealed Woods had a variety of prescription drugs in his system at the time of the arrest.Woods has 79 career PGA Tour victories. He won 14 majors, but the last one was in 2008 when he won the US Open at Torrey Pines by outlasting Rocco Mediate in a memorable 19-hole playoff.Share on: WhatsApplast_img read more

Reports: Iran Has Breached Uranium Enrichment Limits, Breaking 2015 Deal

first_imgIran has started increasing uranium enrichment beyond the purity threshold to which it agreed in a 2015 nuclear deal, the Iranian government announced Sunday.The move comes after President Donald Trump withdrew from the deal and re-introduced economic sanctions last year.Iran announced in May that it was partially withdrawing from the deal. Sunday marked the end of a 60-day ultimatum that country gave to the European nations that were part of the deal to ease sanctions on its banking and oil sectors.Officially called the Joint Comprehensive Plan of Action (JCPOA), the nuclear accord was supposed to limit Iran’s civilian nuclear program, and to prevent it from developing nuclear weapons.Iran had agreed to keep uranium enrichment to below 3.67 percent, a level which is enough to provide power to parts of the country, but not nearly enough to build a nuclear bomb.At the time, Iran also agreed to reduce the number of its centrifuges, which are used to enrich uranium, by two-thirds, and to reduce its stockpile of enriched uranium by 98 percent.Iran’s Foreign Minister Javad Zarif on Sunday sent a letter to the European Union’s foreign representative Federica Mogherini to inform her of the action, adding, “We will give an additional 60 days of time starting today before taking further steps.”A spokesperson for the European Union says the bloc is “extremely concerned at Iran’s announcement. We strongly urge Iran to stop and reverse all activities inconsistent with its commitments under the JCPOA … we are in contact with the other JCPOA participants regarding the next steps.”The International Atomic Energy Agency says its inspectors will verify Iran’s announcement. Fredrik Dahl, the agency’s spokesman, added, “We are aware of Iran’s announcement related to its uranium enrichment level. IAEA inspectors in Iran will report to our headquarters as soon as they verify the announced development.”The 2015 deal came about after two years of negotiations by the U.S., China, France, Germany, Russia and the United Kingdom.Neither the White House nor President Trump have commented.last_img read more