Links Feb 20

   0   0 Blog, Corporate Tax, Finance Sector, Inequality & Democracy, Secrecy

What Russian money sloshing back to Cyprus teaches us about tax havens Quartz
“Building a financial system to serve foreign clients first doesn’t necessarily improve a country’s fiscal condition, as fiscal collapses in places like the Caymans have shown before.” See also this months Taxcast featuring the Bahamas.

Austria slightly shifts position on banking secrecy Austrian Times

Switzerland to speed up measures against tax evasion EurActiv

Tax Evasion: the agreement with Switzerland was a bitter defeat for the United Kingdom Le Monde (In French)

Taxing rich foreigners: Alpine tax haven fears for its survival swissinfo
More on the growing trend of residence shopping

Singapore, Now World’s Fastest Growing Wealth Management Hub, Not Free From Tax Evasion And Other Crimes International Business Times

Guernsey Targets Emerging Economies mondaq

Ben Chu: Fair Tax Mark is pro-market The Independent

To identify hidden owners Fædrelandsvennen (In Norwegian)
“As many as 130,000 Norwegians may be holding assets abroad that are not registered with the tax authorities, estimates the Norwegian Tax Justice Network in a new report.”

India: All you wanted to know about the Vodafone tax case The Hindu Business Line

Offshore Tax Evasion: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore Accounts U.S. Senate, Permanent Subcomittee On Investigations
Witnesses for the hearing on 26 Feb will include representatives from a Swiss bank and the U.S. Department of Justice.

IRS’s Offshore Voluntary Disclosure Program: 2009 Participation by State and Location of Foreign Bank Accounts U.S. Government Accountability Office (GAO)

The Inequality Debate Heats Up! Huffington Post
Comment by Séamus Finn.

Rich Countries’ Dirty Money Project Syndicate

Australian Prime Minister Tony Abbott must achieve ‘concrete results’ or risk losing G20 influence, says Wayne Swan Sydney Morning Herald
Former treasurer Wayne Swan has warned that Australia risks losing global influence unless this year’s G20 summit achieves concrete results on issues such as multinational tax avoidance.


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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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