Links Apr 30

Credit Suisse, BNP Paribas U.S. Charges Said to Be Weighed Bloomberg Businessweek
“Prosecuting the companies would break with a past practice of brokering settlements with large banks that are considered integral to the financial system.” See also: Two Giant Banks, Seen as Immune, Become Targets Dealb%k, The Rise of Corporate Impunity ProPublica, and Swiss Enabler to Plead Guilty in Credit Suisse Tax Case Bloomberg Businessweek

G5 Agree Deadline For Automatic Info Exchange Tax-News
See also: Europe’s G-5 Finance Ministers Vow Strong Action on Tax Evasion, BEPS Transfer Pricing Watch. For background on information exchange see here, see TJN’s Briefing on the BEPS project here, and read on the BEPS Monitoring Group here.

Norway: Parliament President Thommessen’s tax haven tangle
Intriguing story on a Guernsey trust set up by the high-ranking politician, and a fight to break through confidentiality. “He suspected the links between the trust managers and island authorities were too close.”

Luxembourg news: “welcoming tax regime” and “lack of political baggage” promoted internationally Financial Secrecy Media Monitor

New Yorkers, Boris Will Save You! Bloomberg
“Boris Johnson, London’s the eminently quotable mayor, is reaching out to New Yorkers who might fancy a change of scenery if New York Mayor Bill de Blasio should decide to raise taxes.”

Australia: Singapore, Ireland top havens for multinational tax dodgers Sydney Morning Herald
Australian companies sent almost $60 billion to related parties in tax havens in 2012, with payments to Singapore and Ireland featuring high on the list, according to new data released by the Australian Tax Office.

Tax avoidance: The Irish inversion Financial Times (paywall)
Explains how US companies are shifting their headquarters abroad to protect growing overseas cash piles, and comments: “The popularity of inversions … undermines Ireland’s insistence that it is not a tax haven, making it more difficult to defend its system in an international climate that is turning sharply against tax avoidance.”
See also:
Ireland’s corporation tax to come under microscope again Independent
KPMG warns Irish tax deals for global firms near an end Irish Examiner
Also recent TJN blog: If Ireland is not a tax haven, what is it? A bagel?

The EU elections and tax Tax Research UK

Sad Pragmatism and Tax Incentives The Tax Analysts Blog

Transfer Pricing Página/12 (In Spanish)
Hat tip: Jorge Gaggero. See background and resources on transfer pricing here.

Greek Nightclub Basements Focus of Tax-Evasion Dragnets Bloomberg

Peter Buffett: Philanthropy disguises itself as a fix when it’s a part of the problem Quartz

Dolce and Gabbana Found Guilty Of Tax Evasion Vogue

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Launch of international research collaboration, #AltAusterity

alt austerityToday is the launch of #AltAusterity, a new, international research collaboration of which Tax Justice Network is a partner.  The project aims to stimulate public debate on the subject of austerity though high quality research. It is a response to the lack of evidence which has underpinned the current policy agenda on austerity. The project […]


RB tax avoidance – company calls for public country by country reporting after Oxfam report reveals profit shifting

pictureOxfam has today released a report on tax dodging by RB, the company formerly known as Reckitt Benckiser and the maker of thousands of well known household products. The report looks at the 2012 restructuring of the company which saw it set up ‘hubs’ in the Netherlands, Dubai and Singapore, all well known corporate tax […]


Half measures mean Mauritius will continue to be a tax haven for the developing world

MauritiusThere was news this week that Mauritius has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). This is an initiative from the OECD to allow countries to take measures designed to stop tax avoidance by multinational companies and put them into their existing network of […]


G20: Pressure rising on tax haven USA

HamburgWhilst the eyes of the world focused on the isolation of the US from the ‘G19’ position on climate change, something remarkable played out elsewhere in the process. Following closely the common EU position that we highlighted a few days ago, the G20 communique devotes important space to tax justice. It’s so good we quote […]


Will the G20 ever end the global problem of tax avoidance and tax evasion?

HamburgAhead of the G20 Summit in Hamburg this week our own George Turner has published this op-ed in the German newspaper Die Tageszeitung today. The article discusses why, despite sustained political engagement from world leaders, we are still some way from solving the problem of tax avoidance and tax evasion. Here’s an English translation of the article:


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