Links Mar 21

Luxembourg Signs Up to EU Savings-Tax Agreement, Ending Deadlock Bloomberg
Bettel: “With Austria, Luxembourg can go ahead and give the green light for the EU savings directive”. See also: Austria, Luxembourg Accept EU Bank-Secrecy Law The Wall Street Journal – Bloc Promises to Push Switzerland, Four Other Countries Into Signing Similar Deal

The world’s youngest billionaire appears to be a human tax dodge Quartz

Offshore Web Nets Chinese Giant in Italian Solar Scandal ICIJ

Dominique Strauss-Kahn, former IMF head, joins board of Rosneft-owned Russian bank The Telegraph
See also: Dominique Strauss-Kahn’s hedge fund is far from the first brash comeback in finance Quartz

Kazakhstan to combat capital flight offshore Business News Europe
“… a Kazakh deputy proposed the country should create its own offshore zone, in a bid to keep capital from leaving the country … He noted that a Russian plan for an offshore zone in the far east creates additional risk of capital flight, as there will be no restriction within the Customs Union.”

Treasury Sanctions Russian Officials, Members Of The Russian Leadership’s Inner Circle, And An Entity For Involvement In The Situation In Ukraine U.S. Department of the Treasury

Kenya plans tax breaks to lure textile firms Business Report

Canada – BVI tax treaty is now in force STEP
Treaty introduces “a very favourable tax regime for income remitted from BVI-resident companies to their Canadian parent”

UK Treasury backs global overhaul of tax rules for multinationals Financial Times

Argentine Official Meets FIFA’s Blatter on Soccer Tax Avoidance Bloomberg

Zimbabwe: Public executives in tax evasion scam SW Radio Africa

Lessons of a German Tax Cheat The New York Times
Comparing tax cheating culture in Germany and Greece.

Italy: Renzi vows crackdown on tax dodgers Gazetta del Sud


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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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