Links Jan 31

Country-by-country reporting is open for discussion Tax Research UK

Cayman’s economic model is bankrupt Tax Research UK
Illustrates the Finance Curse. Read also on the situation in the Bahamas and in Barbados

Tax-motivated illicit financial flows: A guide for development practitioners CMI
Paper by Martin Hearson “explains the terms and helps development practitioners and policy makers navigate the tax and illicit financial flow debates.”

States could save $1 billion with simple, proven method to curb offshore tax dodging, new study finds U.S. PIRG

HSBC Said to Plan Sale of Swiss Private Banking Assets Blooomberg
The report quotes the statement: ““HSBC is fully committed to Switzerland as a key international booking center for our global private bank”. Does “international booking center” mean assets are held in Switzerland for clients who are behind trusts and shell companies in other jurisdictions?

Swiss banker in French tax probe returns home Reuters

Switzerland: Tax authorities eye minister’s family firm swissinfo

Digital Economy PE: Solution To Taxing Global Giants Like Google And Facebook? Tax Analysts / Forbes

Indian Court Rules On Vodafone Transfer Pricing Allegations Tax-News

The Perks of Being a Whistle-blower Newsweek

Hong Kong Sets Out TIE Practice Tax-News
Hong Kong is in third position in the 2013 Financial Secrecy Index

Luxembourg’s Frieden Calls For European Tax Strategy Tax-News

Why the Business Tax Reform Proposal in Obama’s State Of The Union address Is Not as Great as It Sounds Citizens for Tax Justice

Chinese companies make use of Samoa tax haven Radio New Zealand
See also: Samoa companies invest $2 billion tala into China Samoa Observer

News links from TJN Germany Blog (In German)

Event: Banks out of control? Why whistleblowers for justice and governance are an essential early warning system (In German)

Cayman: Consultation extended on beneficial ownership Cayman News Service

Cayman Premier to face BBC Flagship interview programme HARDtalk Cayman News Service

Wyoming news: Reuters uncovers “Little Cayman on the Grand Plains” Financial Secrecy Media Monitor

Pfizer’s U.S. Losses Questioned as Overseas Profit Soars Bloomberg


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New estimates reveal the extent of tax avoidance by multinationals

Price Waterhouse CoopersNew figures published today by the Tax Justice Network provide a country-level breakdown of the estimated tax losses to profit shifting by multinational companies. Applying a methodology developed by researchers at the International Monetary Fund to an improved dataset, the results indicate global losses of around $500 billion a year. The figures appear in a […]

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Banking Secrecy in China, its related territories and Taiwan

Hong Kong from Sky 100Foreword. The Tax Justice Network is a non partisan network of experts working towards transparency, so we do not take any position about countries’ territorial and political claims. However, we do expect countries with a de jure (legal) or de facto (in practice) influence over other territories, to take responsibility for their power. We point […]

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Is tax avoidance at the heart of Ireland’s economic miracle?

AIB International Finance Centre Dublin - By Estoy Aquí (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia CommonsComing out of the economic crisis Ireland was one of the best performing economies, with GDP growth rates of 8.5% in 2014 and an extraordinary 26.3% in 2015. But how much of this economic activity was real, and how much a fiction created by Ireland’s tax haven status? A new paper by Heike Joebges of the University […]

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New Report: HMRC’s “Building our Future” programme

bigben-mcbigbenfaceYesterday the Tax Justice Network was in the UK Parliament to launch a report it co-produced with the Public and Commercial Services Union. The report, entitled “HMRC, Building an Uncertain Future” is a study of HMRC’s (the UK tax authority) reform plans which it is calling “Building our Future”. The report published yesterday analysed the […]

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Financial secrecy in football: time for action

bigben-mcbigbenfaceEveryone has known for years that football is rotten to the core and financial secrecy is at the heart of the problem. Why then is no one doing anything about it? This post from the Offshore Game project originally features in the Independent. 

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