Big Changes Coming for BEPS

By Shea Fanelli

The Organization for Economic Development (OECD) is an international organization which promotes policies to help stimulate economic progress and world trade across borders. The OECD has attempted to accomplish these goals by improving international tax cooperation between countries. By identifying trends in tax planning, the OECD assists governments in recognizing risks and countering international tax avoidance and evasion.

Base erosion profit shifting (BEPS) refers to “tax planning strategies that exploit gaps” in the architecture of the international tax system to artificially shift profits to places where there is little or no economic activity or taxation. In other words, these tax planning strategies “move” profits across borders to reduce or avoid taxation on the earned income. The OECD estimates that nearly USD 100-240 billion of revenue derived from corporate income tax is lost on an annual basis.  While a number of the tax structures are illegal, most employed are not. Irrespective of its legality, BEPS strategies undercuts both integrity and fairness in tax systems because multinational businesses that implement BEPS achieve a competitive edge over businesses operating strictly within a single country. Because companies are capable of legally avoiding income taxation through its tax structure, BEPS also has the derivative effect of discouraging voluntary compliance by all taxpayers. Read more ›

Posted in Blog

An Ugly Stain on the Beautiful Game

By Mirza Hadzic

This summer, Russia is hosting the FIFA World Cup, and some are already predicting it to be a disaster.  In 2010, the Fédération Internationale de Football Association(“FIFA”) selected Russia to host the 2018 World Cup.  Since FIFA’s controversial selection, there has been an intense public discussion about moving the tournament to another country. Critics have cited racism, doping, and a wide array of other political reasons Russia should have been stripped from hosting the tournament.  Nonetheless, FIFA declined all requests for the tournament to be moved and the World Cup is still scheduled to take place in Russia from June 14 to July 15. Read more ›

Posted in Blog

March For Our Lives: Kids Across The Globe Take Matters Into Their Own Hands

By Marissa Perry Sharpe

On Friday, March 24, millions of kids and allies marched for what was said to be the “biggest gun control protest in a generation.” While in America the protest stems from issues with the application of the 2ndAmendment of the U.S Constitution, places like London, Paris, Mauritius, Tokyo, Stockholm, Sydney, Geneva, Mumbai and Berlin also marched in solidarity. Read more ›

Posted in Blog

The Royal Wedding: Making History in More Ways Than One

By Athena Pantelopoulos

Since the announcement of Prince Harry and Meghan Markle’s engagement in November 2017, the world has been abuzz with royal wedding excitement. With a wedding date set for May 19, 2018, Meghan Markle is soon to become the second American and first person of mixed race heritage to marry into the British Royal Family. A generation ago, it simply would not have been that a divorced, mixed race, Hollywood actress would marry the son of the next King of England. Read more ›

Posted in Blog

Felix Sater: The Most Interesting Man Alive?

By Joshua Caron

He has links to La Cosa Nostra and the Russian mafia, his own criminal record, and accolades from the former U.S. Attorney General? Felix Sater describes himself simply as a “business man.” He was born in Russia and raised in Brooklyn, NY. So what makes him so interesting? Sater started out as a successful Wall Street broker in the early nineties, but that career ended abruptly when he stabbed another broker in the face with a broken martini glass during a bar fight. The victim suffered a laceration that required 110 stitches and Sater received a year prison sentence.

Following his prison stint, Sater returned to Wall Street, but this time his work included money laundering and defrauding investors. Of his nineteen partners in the scheme, at least six had known mob connections. The group was ousted in 1998, when New York City police officers discovered guns and incriminating documents in a storage unit Sater had rented under a fake name. Overall, the group had defrauded investors of approximately $40 million. Sater’s punishment this time around was a meager $25,000 fine, with no jail time. How could that be? Read more ›

Posted in Blog

Kim Kardashian: A Global Influencer

By Sarah Purtill

In today’s world, it is easier and easier to stay connected with people who are halfway across the world. Social media and a globalizing economy have created new methods of business, trade and socialization resulting in vast amounts of communication and effecting global commerce. Like her or hate her, Kim Kardashian has capitalized on social media platforms and the globalizing economy. Read more ›

Posted in Blog

The Price of a Lake

By Caroline Bertholf

The land on which we live is extremely valuable. Few people understand, appreciate, and respect its value more than the Haudenosaunee. The Haudenosaunee make up the six nation Confederacy, known by Americans and Canadians as the Iroquois Confederacy. They are known as a peaceful people both in the United States and on international platforms. The “Central Fire,” which is the Capital of the Haudenosaunee, is located in the Onondaga Nation. Read more ›

Posted in Blog

Between a Rock and a Hard Border

By Michael Canavan

Twenty years ago, the three hundred mile stretch of fortifications, guard towers, and military checkpoints separating the Republic of Ireland from Northern Ireland was one of the most foreboding international boundaries in the world. But since the signing of the Good Friday Agreement in 1998, finally ending the decades of sectarian violence known as the Troubles between the predominately Catholic nationalists seeking Northern Ireland’s reunification with the south and the largely Protestant unionists fighting to stay in the United Kingdom, today that border is all but invisible. Tens of thousands cross with ease every day, living on one side and working on the other, no customs check or even passport required. However, one of the underlying assumptions of the 1998 peace treaty was that its main signatories, Ireland and the U.K., would remain members of the European Union. Now as Britain prepares its Brexit there is growing concern as to what the U.K’s only land border with the EU will look like after negotiations are finished. Read more ›

Posted in Blog

Termination of Temporary Protected Status Results in Both Humanitarian and Economic Consequences

By Courtney Griffin

On Monday January 9th, the Trump administration announced its plan to terminate Temporary Protected Status (TPS) for nationals of El Salvador. This decision came just weeks after the white house announced the termination of TPS for Haitians. Combined, these decisions to terminate TPS could leave close to 300,000 immigrants- many of whom have lived in the US for over a decade without legal status. Read more ›

Posted in Blog

Talks Between North and South Korea Resume

By Sarah Shepp

On January 2, 2018, South Korea invited North Korea to participate in the 2018 Winter Olympics that will be held in Pyeongchang, South Korea in February. South Korea has offered high-level talks with North Korea that are scheduled to take place on Tuesday, January 9th, to discuss North Korea’s possible participation in the Games. North Korean leader Kim Jong-un stated that the two countries should “urgently meet to discuss the possibility” and South Korean President Moon Jae-in said this would be “a ground breaking chance” to improve relations between the two countries. Read more ›

Posted in Blog