Links May 23

US senators say more needs to be done after Credit Suisse conviction The Guardian
See also: Credit Suisse Seen Keeping U.S. Bank License Bloomberg video – talks of the penalty being “political card playing”, in that Credit Suisse are seen to be punished but they are still continuing as a bank in the USA, Credit Suisse Sells $5 Billion of Bonds After Settlement Bloomberg – “Investor demand was very strong” said Credit Suisse global head of debt capital markets, Credit Suisse: what the Swiss media are saying Financial Secrecy Media Monitor, Discredit Suisse: Still Too Big To Jail Global Witness, Credit Suisse’s Guilty Plea: The WSJ Uses the Right Adjective to Modify the Wrong Noun naked capitalism

Australia Talks Anti-BEPS Initiatives Tax-News

New Zealand: the Shell Company Incorporation Franchises (III) and New Zealand: the Shell Company Incorporation Franchises (IV) (and Latvia) naked capitalism

$138 billion offshored from Kazakhstan Tengri News

Tax Breaks Proposed For Russia-China Gas Deal Tax-News

India urges Switzerland to ratify OECD convention on tax info exchange Shanghai Daily
See also earlier blog Switzerland fights to curb scope of global transparency moves (updated)

Be Open To Tax Talks, Vodafone Urges India Tax-News

How Foreign Is Google’s Foreign Cash? Bloomberg View

Junk Economics: New Report Spotlights Numerous Problems with Anti-Tax Economic Model Citizens for Tax Justice

It is getting harder to hide money from Uncle Sam offshore The Washington Post

Austerity is a political decision: Netherlands edition Financial Secrecy Media Monitor

UK: HMRC really do not want to collect corporation tax Tax Research UK


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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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