Links Jun 18

The True Cost of Hidden Money – A Piketty Protégé’s Theory on Tax Havens The New York Times
“What’s beyond question is that there is no economic, political or moral justification for tax evasion – it exists only because of the political influence that wealth buys. A society that fails to fight widespread tax evasion proclaims its own corruption.” For TJN’s view on estimates of the funds hidden in tax havens see here and here.

Petition against the Brazilian World Cup tax breaks: Fifa’s Games
Sign the petition, and see recent blog Brazilians will pay heavily for FIFA’s “obscene” tax abuses

NGOs accuse Glencore of human rights violations swissinfo

Kazakhstan Signs Investor Tax Breaks Into Law Tax-News

Corporate ‘inversions’ are destroying the tax base The Conversation
Prem Sikka points out “People can raze mountains, divert rivers, clear forests and give subsidies, grants and preferential loans as a welcome to corporations, but the companies themselves don’t have any loyalty to communities or the nation-states which nurture them. Their sole concern is profits, and they are off as soon as they can find a better financial deal.” Prem outlines what can be done to redress this situation.

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion Forbes

How to make your EU nation an offshore banking middle man Quartz

No Sweetheart Deal, Ireland To Tell Commission Tax-News

Dutch public prosecutors investigate EU trust office tax evasion Dutch News

US Congress to deny federal contracts to Bermuda-based offshore companies — plan The Royal Gazette
See also recent blog Insurance sector seeking to trick the OECD with giant secrecy loophole?, and Cash hits back at Maher over Bermuda ‘rant’ The Royal Gazette – officials claim Bermuda is not a tax haven, but then they all say that.

Lobby groups ‘see right through’ US state’s financial transparency attempt ICIJ

U.S. Securities and Exchange Commission Faces Mounting Pressure to Act on Oil, Gas, Mining Global Transparency The Huffington Post

Argentina vows to continue fight against ‘vulture funds’ Financial Times Financial Times (paywall)

NZ efforts to stop tax evasion questioned Radio

Tax avoidance company threatens to sue Deloitte City Wire

Recent links from the TJN Germany Blog


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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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