Fact-checking the Financial Secrecy Index, part 2. Picked an area I know something about (UK company law) and looked at the report detail. The "specific types of entity" entry is 3/4 nonsense.pic.twitter.com/gEp2aUSaCP
Business and sustainable development. Accountability. Tax. Feminist test case. Media: Tom Gardner at Slater & Gordon 0207 657 1690 press@slatergordon.co.uk
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Fact-checking the Financial Secrecy Index, part 2. Picked an area I know something about (UK company law) and looked at the report detail. The "specific types of entity" entry is 3/4 nonsense.pic.twitter.com/gEp2aUSaCP
"Property management company", "franchise" or "agency trading company" are just description of types of business. A "community interest company" is a specific way for a normal company to opt to benefit a community. Not an entity type.
So what's the source? A dubious website called "http://lowtax.net ". It has a poorly written page on what companies can be used for. Someone has misread this, and thought it was referring to different types of legal entity.pic.twitter.com/s5LfO1r864
A much better source would have been Companies House - https://www.gov.uk/government/organisations/companies-house/about-our-services ….
Does this matter? Does it impact the FSI score? I don't know. Surely not material in itself. But it raises questions about sourcing and fact-checking/quality control. @alexcobham, @TaxJusticeNet - you may want to look at this.
At some point I will go through the UK entry methodically. No time now - but an obvious/trivial error in the fourth line. The UK legal system is not "Anglo Saxon" and the cited source, the CIA World Factbook, does not say that.pic.twitter.com/lV3OSK6P0w
Surely this one is irrelevant, but something has clearly gone wrong with the sourcing and review process. (Although NB the CIA is not quite right either - Scots law is not a purely common law system. I am beyond disappointed I can't trust the CIA)
It looks like wherever the CIA Factbook says English common law, or Common Law system etc... it is translated as "Anglo Saxon", civil law is translated as "Roman"
Yes - that’s pretty much what happened to Anglo Saxon law.
What does it mean, this description of so many countries having "Anglo Saxon" legal systems in the FSI? @alexcobham @petr_jansky ?
It’s a mistake. There’s no such thing. They mean common law.
It’s also a “tell” - nobody who’d studied law reviewed this.
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