Links Mar 19

US Virgin Islands Lures Businesses With Tax Breaks International Business Times
“These generous tax breaks don’t render the Virgin Islands a corporate or offshore tax haven, like such well-known rivals as Bermuda or the Cayman Islands … That’s because the Virgin Islands’ tax benefits are legally sanctioned by the U.S. government, unlike regimes at overseas havens under pressure from a global regulatory crackdown.”

86 multinationals on ATO ‘high risk’ tax hitlist The Sydney Morning Herald

Mining tax: it’s time for all Australians to realise they are being ripped off The Guardian

Africa urged to build fair taxation systems to curb wealth inequality Coastweek / Xinhua

Insight: Swedes tire of tax cuts as welfare state shows strains Reuters

India: Supreme Court dismisses Nokia’s appeal in asset transfer case The Economic Times

Tech firms would pay $89B in taxes if offshore gov’t debt came home ars technica

Hollande ex-minister ‘hid £2 million in Isle of Man’ The Telegraph
“New reports alleging Jerome Cahuzac held another foreign account further embarrasses the French premier and prompt investigation in Britain”

German Minister Seeks Tougher Rules for Tax Cheats abc news

Hoeness case part of ‘painful’ change for bankers swissinfo

Switzerland Passes Anti-Tax Evasion Bill Tax-News

Big banks need point person for money-laundering lapses: regulator Reuters

Greece sends tax inspectors to anger management seminars The Guardian

New York’s Unique Approach To Tax Enforcement Working Tax-News

More evil than genius? How iPad and Google Glass makers are secretly scamming America Salon
“We already knew Google and Facebook were resourceful. But their new scheme to rip off the U.S. Treasury is chilling”

Multinationals Pay Higher Tax Rates Abroad than in U.S. Accounting Today

The winners and losers of Portugal’s golden visa scheme BBC
Another tale of the race-to-the-bottom trend of residency shopping


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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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