Links Apr 2

Cayman Islands’ government terminates Lord Blencathra’s lobbying contract The Bureau of Investigative Journalism
See also: Lobbying row: Cayman Islands cut ties with Tory peer Lord Blencathra by mutual consent after revelations by The Independent

Oil Multinationals, Others Stash Africa’s Tax Billions Yearly- African Union allAfrica / Premium Times
See also: Illicit Financial Flows deprives Africa of billions of dollars GhanaWeb

It’s Time to Get Tougher on UK Tax Havens, Mr Cameron Huffington Post

Luxembourg, US Sign FATCA Deal Tax-News

Montserrat Premier Highlights Tax Transparency Efforts Tax-News

Is black money secretly returning to India? India Today

As Trial Of Billionaire Liu Han Opens, Chinese President Xi Jinping May Go For Even Bigger Target International Business Times

City of London fighting for UK to stay in EU: the Swiss media perspective Financial Secrecy Media Monitor

The Simple Fix to the Problem of How to Tax Multinational Corporations — Ending Deferral Economic Policy Institute

The Spaniard who threatened a Chinese Solar Giant  (In Spanish) El Confidencial
Accusations of fraud through offshore companies

SocGen Faces Bribery Claims in Libya Wealth Fund Suit Bloomberg
Lawsuit says that Société Generale SA paid about $58 million to a friend of the Qaddafi family to secure investments, via a Panama-based company, kept secret from the LIA board

Cayman: Payoff aids Tempura cover-up Cayman News Service
Latest events in the corruption case highlighting alleged misgovernance between Britain and its offshore financial centres

Who said economics was too complicated? Play the game of tax havens, bankers’ bonuses and inequality… using just a pile of poker chips Daily Mail


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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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