Links Mar 7

Swiss parliament relaxes terms for tax data exchange swissinfo
“Parliament has approved a legal amendment that tax evaders will not always have to be told if Switzerland sends information about them to other countries.” But to what extent is this just lip-service? How do trusts, foundations and shell company structures factor in? See also: Credit Suisse U.S. Clients in Limbo as Probe Inches Ahead Bloomberg, and very insightful commentary in The ongoing ethics struggle of banks Reuters

EU To Freeze Corrupt Assets From Ukraine Transparency International
The ever-present question: how did the assets from a corrupt source come to be accepted in the first place? For coming right to the point on the efficacy of the so-called freezing actions, read a private banker’s explanation in Freezing Russian Assets. What Happens If? A Banker’s Umbrella, see also: London’s lucrative Russia ties hang over sanctions debate Reuters

Ukraine: Avakov says Kurchenko’s fraudulent business activity, tax evasion cost state $1 billion Kyiv Post

As Europe Tightens Oversight, Spotlight Must Remain Financial Transparency Coalition Blog

U.S. Freezes More Than $458 Million Stolen by Former Nigerian Dictator in Largest Kleptocracy Forfeiture Action Ever Brought in the U.S. The United States Department of Justice

French-Swiss tax impasse shows little progress swissinfo

BNP Paribas opens Asia-Pacific Training & Development Campus in Singapore The Asset
The Singapore government is supporting the restoration of BNP Paribas campus buildings.

Luxembourg’s importance for the European Commission waning? Financial Secrecy Media Monitor

Seychelles’s New FSA To Regulate Offshore Financial Sector Tax-News

Tax Evasion Threatens Africa’s Socio-Economic Transformation: UN Expert Coastweek

NGO slams secrecy over Zambian mine’s tax iol
See also: Mines evading tax, ZRA boss tells international forum Zambia Daily Mail

Kenya: Proper tax laws could bridge gap between rich and poor The People

Denmark – A Tax Haven? Director of Finance Online.
” limited partnerships are tax-exempt and may provide anonymity and discretion to its owners.” Written by a cheerleader.  Denmark is ranked at 66th position on TJN’s Financial Secrecy Index

Serbia To Tackle Tax Cheats To Broaden Tax Base Tax-News

Links from the TJN Germany Blog

Hong Kong and Macao ‘vulnerable to money laundering’ STEP

Hong Kong, NYC will be magnets for wealthy: report China Daily USA

U.S.: 37 Organizations Call on Senators to Oppose Legislation Providing Tax Amnesty for Offshore Corporate Profits Americans for Tax Fairness / FACT Coalition

Multinationals are changing tax policy in face of political scrutiny – survey Thomson Reuters
See also our recent blog Survey: the corporate tax debate is biting the corporations

No spoils for Moyles – but what does it mean? David Quentin’s tax & law blog
“This business about Chris Moyles serves as a useful reminder of an uncomfortable fact about “tax avoidance”, which is that some of it fails.”

The irony: Japan wants to tax Bitcoins just as the UK says it won’t Tax Research UK


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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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