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

Related Posts

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 […]


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 […]


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

AIB International Finance Centre Dublin - By Estoy Aquí (Own work) [GFDL ( or CC 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 […]


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 […]


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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