Links May 1

Credit Suisse unit draws US tax scrutiny swissinfo
“For years, Credit Suisse used a secondary Swiss banking brand, Clariden Leu, to woo clients who wanted a smaller, more personalised experience. Now, its decision to keep that little-noticed unit separate has become an issue in the long-running United States tax evasion investigation.” See also: Credit Suisse executives clashed on tax probe Financial Times (paywall) Executives questioned moves by Credit Suisse private bank co-heads to reclassify assets from the Americas to the business in Switzerland.

Ex-Mizrahi Banker Said to Be Indicted in U.S. Tax Fraud Case Bloomberg Businessweek

Resource-rich developed nations told ‘practice what you preach ICIJ

India: Curbing generation and outflow of black money are more important than bringing it back dna

U.S. May Close Door On Russian FATCA IGA Talks Tax-News

U.S.: Do-Nothing Congress Continues Helping GE, Apple, Other Multinational Tax Dodgers Yahoo Finance
See also: GOP Lawmakers Say Yes To $310 Billion For Business, But $12 Million For At-Risk Kids? Nope Huffington Post

Why Does Pfizer Want to Renounce Its Citizenship? Citizens for Tax Justice
See also:
Recent TJN blog Pfizer and Astrazeneca merger shows US and UK both lose from UK’s predatory tax regime
Pfizer’s Acquisition of AstraZeneca May Spur Rush of Tax-Avoidance Inversions (and Congressional Action) TaxProf
IRS Chief Says Agency Can’t Stop Companies’ Offshore Tax Deals Bloomberg Businessweek
Behind big US deals in Europe: avoiding taxes GlobalPost / Agence France Presse

Chairman of Silvio Berlusconi’s Mediaset Blasts Google, Facebook for ‘Neo-Colonialism’ The Hollywood Reporter
“Said it was unfair that foreign companies paid low taxes in Italy as founder Silvio Berlusconi battled his own tax evasion problems.”

Google Australia’s tax bill jumps tenfold The Sydney Morning Herald
“Despite the big increase, following a political backlash against the Australian arm of the technology giant, the tax bill is only 15 per cent of its Australian profits, which don’t count Google’s lucrative search business.”

Swiss Business Federation says Switzerland Must Enhance Its Perks For Corporates Tax-News

F1’s Ecclestone avoided potential £1.2bn tax bill BBC
See also this week’s Offshore Wrapper “In Formula One, everyone cheats. The trick is not to get caught.”

Tackling Tax Evasion: Bloomberg Follows Greece’s Fraud Squad Greek Reporter

Bill Black: GAO and Wall Street Journal Whitewash Huge Criminal Bank Frauds naked capitalism

How A Former Senior SEC Official Manipulated The System For His Clients’ And His Own Benefit Vice

Related Posts

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:


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top