Links Mar 20

Havens set deadline for reporting investors’ tax details Financial Times (paywall)
The British Virgin Islands, Liechtenstein and Jersey are among 44 countries that have set a deadline of September 2017 for reporting investors’ tax details to their home governments, under pioneer plans aimed at leaving “no hiding place for tax evasion”

Release of discussion drafts on Action 2 (Neutralise the effects of hybrid mismatch arrangements) of the BEPS Action Plan OECD

US signs FATCA intergovernmental agreements with Chile and Finland International Tax Review
Lists the total of 24 IGAs concluded so far.

Stars start to align for bill to outlaw shell corporations ICIJ

Russia drafts its own version of FATCA FTSE Global Markets

From Russia, With Love For London The Wall Street Journal (paywall)
See also: How to Punish Putin The New York Times “Western nations could deliver a serious blow to the luxurious lifestyles enjoyed by the Kremlin’s cronies who shuttle between Russia and the West. This means freezing the oligarchs’ financial assets and seizing their property.”

Bahamas: New Immigration Policy Can ‘Revolutionise’ Sector Tribune
A twist on the economic residency issue, and trying to maintain a foothold in the financial services industry. See also February’s Taxcast on the Bahamas and recent blog The Bahamas – Another Captured State?

Open government: Let Cayman’s sun shine in Compass Cayman
“…look no further than the ongoing legal dispute over Operation Tempura records to see what happens when government’s practical desires conflict with goals for transparency.”

Cayman Islands money men arrested in US Cayman News Service
Ill-gotten gains from a bank fraud in the US allegedly transferred to the Cayman Islands via the Turks and Caicos Islands.

Africa Progress Panel seeks fair business practices from extractive industries

Zimbabwe: State CEOs in Tax Evasion Scam allAfrica / Financial Gazette

Pakistan: Creating interface between Inland Revenue Laws & AML Act: necessary provisions to be introduced in Finance Bill Business Recorder

Kleptocrats hiding funds in US warned ‘we will find you’ ICIJ

Jersey: New promotional brochure reveals what financial sector is really built on Financial Secrecy Media Monitor
See also: UK minister: Crown Dependencies and Overseas Territories “at the forefront” of global tax transparency

Tax-haven fines’ worst toll? Swiss banks’ reputations The Globe and Mail

Frontal 21: Tax fraud made easy – Investigators at a loss TJN Germany Blog
An Austrian tax law professor, who is wanted by the German judicial authorities for aiding and abetting tax evasion, still holds lectures on tax law in Austria.

Kenny Highlights Opportunities In Ireland For US Firms Tax-News

China’s efforts to curb tax evasion net extra HK$59b South China Morning Post

Offshore taxes may slow audits for some US multinationals: IRS Reuters

U.S.: 90 Reasons We Need State Corporate Tax Reform Citizens for Tax Justice

Guyana’s failure to obey FATF alarms Caribbean financial centres STEP


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