Links Jun 3

The BEPS Monitoring Group: Submission on Hybrid Mismatch Arrangements

Mauritius agrees to treaty revision with India STEP
See also: India and Mauritius to Begin Automatic Exchange of Tax-Related Information India Briefing

Switzerland gives account holder data to India swissinfo

French Criminal Tax Probe Of UBS—Talk About Déjà Vu Forbes
See also: UBS Belgium facing allegations of aiding tax evasion M Belgique (In French)

Swiss banks risk bigger than expected fines in U.S. tax case Reuters

Uganda Revenue Authority given sh9.8 trillion target for 2014/15 financial year New Vision
Reporting on regional meeting organized by SEATINI Uganda and Actionaid on enhancing domestic resource mobilisation.

Is mining giant Vedanta dodging taxes in Zambia? ActionAid

Why US companies can earn $51 billion in the Cayman Islands even though its GDP is only $3 billion Quartz

Dutch Tax Quandary: Caution Stalls Banks’ $12 Billion Hybrid Debt Plan Bloomberg
On Dutch hybrid taxes: “The Dutch government is suspicious about whether additional tier 1 securities should be treated as equity for bank regulatory capital purposes but debt for tax purposes. And why shouldn’t they be suspicious? Really it’s weird that everyone else is so cool with it.”

She fought Wall Street, and now she’s off to jail MarketWatch
“Unlike CEOs, this ‘Occupy’ protestor couldn’t avoid prosecution:

Obama May Face French Backlash Over BNP Prosecution In Meeting This Week ValueWalk


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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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