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There has been scarcely a peep out of Ottawa since last winters promise to crack down on companies that stash their cash in offshore tax havens.

The silence was particularly acute last week, when the OECD (Organization of Economic Cooperation and Development) came out with a seven-point action plan to prevent multinational corporations from using low-tax or no-tax jurisdictions to hide their assets. Canada was one of the countries that called loudest for a co-ordinated international approach. But when the Paris-based agency delivered its blueprint, there was no acknowledgement from Canadas finance minister, revenue minister or any other member of the federal cabinet.

Catching tax cheaters was a Conservative priority when the late Jim Flaherty delivered his 10th and final budget last February. He affirmed the governments determination to combat international tax evasion and aggressive tax avoidance. That followed his 2013 to change the Income Tax Act to flush out businesses that hid their assets abroad. In 2012 he closed several tax loopholes that allowed Canadian companies to set up shell companies and create partnerships in offshore tax havens.

But the governments ardour seems to have cooled lately.

The OECDs Sept. 16 report identifying actions countries can take right now to stem the outflow of taxable income should have been welcomed in Ottawa. Canada cant tackle this issue alone. It is a global problem; one that will grow as technology becomes more sophisticated and persist until nations take collective action.

But harmonizing tax international standards has become politically awkward for Prime Minister Stephen Harper.

Under his government, Canada has reduced its corporate income tax rate to the lowest level in the G7. Harper boasts about this achievement, claiming it brings in foreign investment, spurs growth and creates jobs. He will undoubtedly use that sales pitch in next falls election.

Aligning Canadas corporate taxes with those of other countries would undercut its advantage as investment magnet. Participating in an internationally transparent system of corporate taxation, as the OECD proposes, would allow voters to see who is paying for Ottawas deficit-elimination drive.

There is a second complication. The tax department is quietly reducing its efforts to hunt down multinationals that use overseas tax havens. Canada Revenue Agency (CRA) hasnt announced any wind-down but its corporate business plan for the years 2014-2017 shows a decrease in the share of its budget allocated to offshore compliance.

According to the Professional Institute of the Public Service of Canada, which represents the 7,000 auditors employed by CRA, the government has begun disbanding many of the international teams it set up 18 months ago. Fifty senior tax auditors who led overseas enforcement teams have been told their jobs will be eliminated. The department is shifting its staff to accommodate Ottawas new flavour-of-the-month: cracking down on charities that engage in political activities.

Tory crackdown on tax evasion lost in a fog: Goar

Some 220 more federal government professionals represented by the Professional Institute of the Public Service of Canada , most of them senior tax auditors, have received the news that their positions …

More Job Notices at the CRA: Resources Diverted from Pursuit of Avoidance and Evasion Through Offshore Tax Havens

The Illuminati Public Service Annoucement YouTube
Must Watch This Video.

By: Noordin Zuberi

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The Illuminati Public Service Annoucement YouTube – Video


Fitch Ratings has affirmed the following ratings for the Virgin Islands Water and Power Authority (WAPA):

–$156,550,000 electric system revenue bonds, series 2003, 2010A, 2010B, 2010C, 2012A at ‘BB’;

–$109,340,000 electric system subordinated revenue bonds, series 2007A, 2012B, 2012C at ‘BB-’.

The Rating Outlook on all bonds is Negative.


The electric system revenue bonds are secured by a pledge of net electric revenues and certain other funds established under the bond resolution. The electric system subordinated revenue bonds are secured by a pledge of net revenues that are subordinate to the pledge securing the electric system revenue bonds.


WEAKENED FINANCIAL METRICS: WAPA’s financial metrics have deteriorated in recent years to speculative-grade levels reflecting escalating fuel prices, delays in cost recovery, higher receivables and increased reliance on short-term debt financing. Fitch-calculated debt service coverage has remained below 1.0x since fiscal 2010 and the ability to meet financial targets remains uncertain.

INADEQUATE AND REGULATED COST RECOVERY MECHANISMS: The authority’s electric rates are regulated by the Virgin Islands Public Service Commission (PSC), which has authorized cost recovery through both base rates and a levelized energy adjustment clause (LEAC) for fuel and other related costs. Although the PSC been reasonably responsive to requests for cost recovery in recent years, delays inherent in both the regulatory process and the recovery mechanism impair liquidity and limit financial flexibility.

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Fitch Affirms Virgin Islands WAPA Sr Lien Bonds at 'BB' / Sub Lien Bonds at 'BB-'

ADB Helps Marshall Islands Improve Public Service Delivery And Fiscal Sustainability

MANILA, PHILIPPINES (27 November 2012) The Asian Development Bank (ADB) has approved a $5 million loan to boost public service delivery and help the Government of the Republic of the Marshall Islands (RMI) achieve fiscal sustainability through improving government finances.

The second subprogram under the RMI Public Sector Program supports the implementation of the governments reform initiatives and initiates adjustments required to achieve long-term fiscal sustainability. Through the $9.5 million subprogram, approved in August 2010, policy actions were designed and the implementation of immediate reform priority reforms began. Subprogram 2 will complete the implementation of the policy actions. The Ministry of Finance is the executing agency for the program, and will oversee all policy, legal, and regulatory actions to be undertaken in connection with the program.

Fiscal and structural reforms are needed to achieve fiscal sustainability and generate medium-term economic growth in Marshall Islands, said Hayden Everett, Financial Sector Specialist in ADBs Pacific Department.

The RMI economy relies heavily on government expenditure and on foreign grants which fund more than two-thirds of government expenditure. Economic growth over the medium term in the RMI is expected to stay low at around 1.5% and revenues are projected to decline. Because of this low-growth scenario, the RMI needs to adjust to the annual decline of the grants it receives from the United States under the Compact of Free Association, which will expire in 2023.

Structural reforms implemented by the program include the introduction of new legislation covering state-owned enterprises, tax, and fiscal responsibility and debt management; the adoption and implementation of reform plans for selected state-owned enterprises to improve their performance; and the completion of a public sector workforce audit and planning exercise. The tax reforms will boost domestic revenue collection, while implementing state-owned enterprise reforms and reducing public expenditures will contribute to improving the fiscal balance.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members 48 from the region. In 2011, ADB approvals including co-financing totaled $21.7 billion.



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ADB Helps Marshall Islands Improve Public Service Delivery

Free Speech: Use It. Version 2
Public Service Announce about defending right to free speechFrom:Eugene ButlerViews:3 1ratingsTime:00:45More inNonprofits Activism

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Free Speech: Use It. Version 2 – Video

Silvio Berlusocni, the former Prime Minister of Italy and the most important media magnate of the country, was sentenced to four years in jail and suspended from public service for 3 years for using offshore companies to buy U.S. TV and movie rights and sell them at a huge mark up.

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Berlusconi’s Tax Fraud: Using Offshore Accounts To Make $349M On U.S. TV And Movie Rights

FARGO The North Dakota U.S. House race has attracted dueling endorsements from the pro-gun lobby.

Pam Gulleson, the Democratic candidate, was recently endorsed by the National Rifle Association.

Meanwhile, Republican Kevin Cramer has picked up the backing of the Gun Owners of America, a more hard-line group on Second Amendment issues.

Gulleson, who from 1993 to 2009 represented District 26 in the state House, received an A rating for her voting record and stance on gun-rights and Second Amendment issues, the NRAs Political Victory Fund website states.

Public Service Commission member Cramer received an AQ rating from the NRA.

AQ means a candidate is recognized as pro-gun according to an NRA-PVF survey. But, it also indicates the group believes the candidate doesnt have a voting record on Second Amendment issues.

Cramers website touts the endorsement by the Gun Owners of America Political Victory Fund.

GOA-PVF gave Gulleson no rating and said on its website that she is careful to conceal her views on gun rights and did not answer their questionnaire.

GOA regularly differs with the NRA on endorsements and politician ratings, accusing the older group of being too soft on Second Amendment issues.

The NRA is backing Republican Senate candidate U.S. Rep. Rick Berg, giving him an A rating, while tagging his Democratic opponent Heidi Heitkamp with an AQ rating.

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Gun groups split North Dakota political loyalties

FRIEND OF OPEN GOVERNMENT: State Sen. Mike Fasano has been selected for the Pete Weitzel/Friend of the First Amendment Foundation awarded annually in Florida to an individual who has made a significant contribution to the cause of open government.

In announcing the award named in honor of the former manager of the Miami Herald and a founder of the First Amendment Foundation, the foundation wrote, “After state Sen. Mike Fasano questioned whether a privatization deal for the prison system had been given a complete vetting, Florida Senate President Mike Haridopolos stripped the New Port Richey Republican of his chairmanship of the Senate Budget Subcommittee on Criminal and Civil Justice Appropriations.

“When he made a public records request for information about the State Board of Administration’s investment decisions, Sen. Fasano received a bill for more than $10,000 and wondered what type of barriers regular citizens would face.

“After the Public Service Commission removed a link for public records requests from its website, Sen. Fasano demanded it be restored, complaining the PSC demonstrates a lack of access to public records.”

Barbara Petersen, president of the First Amendment Foundation, said in a letter to Fasano that his selection for the award was based on his “commitment to ensuring that the people’s interests were represented in the Florida Senate and that the legislative process remained open and accessible to its people.”

It’s too bad not all of Florida’s lawmakers respect open government as much as Fasano.

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Thumb up: First Amendment Foundation honors Republican state senator

Hailing Robert Gates for his “profound sense of duty” and integrity and his four decades of public service, President Obama used a farewell tribute at the Pentagon to surprise the outgoing defense secretary with the …

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First Read – President surprises Gates with Medal of Freedom

Defense Secretary Robert Gates, who is retiring next week after 50 years of public service, is the recipient of the 2011 Liberty Medal.

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Robert Gates named 2011 Liberty Medal recipient

“First being—The First Amendment ! Like those that find it problematic the I speak on befalf of a man’s entry to public service is ridiculous. What is it that you fear? Mr, Blake’s calling and his desire for the Common Good or the fact …

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“First being—The First Amendment!

Press Release – Solomon Islands Government. MP for East Kwaio Constituency Stanley Festus Sofu was sworn-in as Minister for the Ministry of Public Service this morning. Soloman Islands : Sofu Sworn-In …

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Medal Of Freedom

Freedom Comments Off
Feb 152011

Awarding George Bush, 87, the 2010 Medal of Freedom , President Obama said of the former president: His life is a testament that public service is a noble calling.

Medal Of Freedom

Awarding George Bush, 87, the 2010 Medal of Freedom , President Obama said of the former president: “His life is a testament that public service is a noble calling.”

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Elder Bush Receives Medal of Freedom –

This public service announcement is brought to you by Dr.

Dr.Steel PSA: “Alien Illuminati” | First Contact Radio Blog

“While they have a right to free speech , they don’t have a right to a public service job,” said Sloan, the former publisher of Slate magazine and a partner in Skadden, Arps’ Washington office.

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State worker's blog sparks debate on free speech –

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