Links Apr 9

UK demands exemption from EU trust registry plan STEP
The UK government has confirmed that it will oppose clauses in the EU’s Fourth Money Laundering Directive that would force all trusts to identify their beneficiaries in publicly accessible registries.

EU tax policy: achievements and way forward Europa.eu
Press release by Algirdas Šemeta, Commissioner responsible for Taxation and Customs Union, Statistics, Audit and Anti-fraudMost Chileans want miners to pay more taxes Mineweb / Reuters

Mining investor says Congo is cleaning up its act Mining Weekly
Cites CEO of major foreign mining company Fleurette saying that “plans to raise mining taxes could deter investors in a country where massive infrastructure challenges remain.” Fleurette holds Israeli billionaire Dan Gertler’ mining and oil interests in Congo: “Anti-corruption campaigners criticise Gertler for close ties to Kabila and an opaque network of offshore companies that control his Congo interests.”

India: MNCs line up for transfer pricing pacts with tax authorities The Economic Times

Jersey news: New promotional brochure seeks to attract Russian offshore business. Ukrwhat? Financial Secrecy Media Monitor

Ireland’s corporation tax averages out ‘at just under 11%’ Irish Times The Irish Times
As a reminder of Ireland’s denial of being a tax haven, see here.


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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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