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


Related Posts

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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