Links May 9

European Parliament election candidates must side with the people not the multinational tax dodgers! Eurodad

India: No info beyond tax pact: Swiss government Business Standard
“Swiss government’s latest response comes against the backdrop of Finance Minister P. Chidambaram shooting off another letter to his Swiss counterpart.”

Vodafone seeks arbitration in India tax dispute BBC

Barbados Central Bank Governor to recommended Government scrap VAT Nation News
A view shared with the Bahamas – see their story here and here.

IRS grants 18-month FATCA respite to foreign banks who act in ‘good faith’ STEP

Pfizer case stirs unease at UK tax haven charges Financial Times (paywall)
On how “footloose companies are exploiting the UK’s tax system without bringing jobs”, despite the UK government’s claim to be tackling international tax avoidance. See also: Pfizer under pressure from US on tax loophole The Telegraph “Powerful US senator vows to “act fast” to close the tax loophole which would allow Pfizer to redomicile to Britain”, and Viagra Maker Should Learn to Love America Again Bloomberg View

Tax driven deals are made in hell, as Publicis-Omnicom proves Tax Research UK

The $13 Billion Mystery Angels – A Tangled Web of Charity Bloomberg Businessweek

Emirates Securities and Commodities Authority, Jersey Financial Services Commission, sign MoU Emirates 24/7

BVI Financial services watchdog sees drop in reports of ‘suspicious’ activity The BVI Beacon

JPMorgan closing accounts of foreign diplomats in U.S. – FT Reuters
Closing accounts due to compliance costs, but: “The ban does not apply to JPMorgan’s private bank, which caters to wealthy clients.”

New head of Italian oil giant Eni must explain role in corrupt Nigerian oil deal at AGM Global Witness


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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 […]

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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 […]

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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 […]

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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 […]

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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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