Links May 19

Joining the Club: The United States Signs Up for Reciprocal Tax Cooperation Center for Global Development

New Zealand: the Shell Company Incorporation Franchises (II) (and Ukraine) naked capitalism

Credit Suisse Plea Looms as U.S. Said to Reassure Banks Bloomberg
See also: Credit Suisse Close to Guilty Plea, $2.5 Billion Accord With U.S. Bloomberg, and video: Credit Suisse Close to $2.5B Deal on U.S. Tax Probe,  If Credit Suisse Pleads Guilty, Pays $2.5B Fine, Should CEO Brady Dougan Be Fired Or Indicted? and earlier blog Credit Suisse: We were running a criminal enterprise.

Could Credit Suisse Alleged Tax Evasion Crimes Match James Bond Bankers of UBS? International BusinessTimes

IRS clarifies FATCA registration procedure for trustees FATCA
“The US tax authorities have definitively set out the procedure by which trustees worldwide can certify a trust as exempt from the US Foreign Account Tax Compliance Act.” We will report more shortly, on exemptions for trusts, foundations and funds under FATCA.

Indonesia: Govt urged to seek reciprocal data cooperation with US Jakarta Post

Are there Indonesian coal millions in D.C. United – wouldn’t you like to know 100 reporters
A story of murky and secretive financial dealings in the football world. Cites TJN’s Jack Blum.

Stern US Tax Evasion Law Targets Russian Banks The Voice of Russia

Multinational Corporations Withheld Trillions in Profits During the Recession. Now, Bill Clinton Wants to Reward Them for It. New Republic

Why Hedge Funds Don’t Worry About Carried Interest Tax Rules Dealb%k

U.S.: The Problem of Corporate Inversions: The Right and Wrong Approaches for Congress Citizens for Tax Justice
For more inversion stories see: AstraZeneca rejects Pfizer’s final £69bn takeover bid The Guardian, Senators urge tough U.S. review of Pfizer bid for AstraZeneca Reuters, Walgreen Shareholder Opposes Potential Deal to Reincorporate Abroad Dealb%k, Endo to Pay Executives’ $60 Million TaxBill for Irish Address Bloomberg Businessweek

‘Sustainable’ companies hide behind subsidiaries in secretive tax havens The Guardian
‘The UK’s 100 largest public companies have nearly 30,000 subsidiaries, according to new research by Christian Aid.” See recent blog on the report here.

Norway: Seadrill strikes deal after Svalbard tax haven flop The Local
“Norwegian shipping magnate John Fredriksen has reportedly reached a secret deal with Norway’s tax authorities after a plan to use the Arctic Svalbard Islands as a tax haven for his Seadrill business was rejected.See here for more on Norway as a secrecy jurisdiction and the Svalbard Islands, and for a story on Fredriksen see What the company registry in Cyprus tax haven actually looks like.

UK Chancellor George Osborne accused of misleading Parliament over claims he is cracking down on tax avoidance The Independent

UK Chancellor George Osborne’s tax changes sweeten Alliance Boots liabilities pill by £100m The Guardian
See also: Boots’ £2m tax bill: ‘We don’t have to justify ourselves’ The Independent

UK Uncut warns Vodafone over ‘unpaid tax’ Financial Director
See details on UK Uncut’s upcoming national day of action here.

Wylys Used Offshore Trusts to Hide Trades Jury Finds Bloomberg

Corporate Tax: Apple, Google, Dr Dre & Ireland’s continuing stateless companies FinFacts

Head of Dutch KPMG quits after tax fraud investigations Reuters\

Netherlands: Amnesty for foreign bank accounts nets €450m for the treasury DutchNews

BVI Hits Back At UK Media Reports LowTax
A familiar theme

A tale of two tax days, one for big business and one for small Contra Costa Times

Piketty: ‘It is a surprise that a candidate for EU Commission president comes from a tax haven’ EurActiv
See recent blogs on Piketty here and here.

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