Links Jun 19

G8 Has Yet To Live Up To Its Promises On Tax And Transparency Financial Transparency Coalition Blog

Swiss Cabinet to examine tax deductible bank fines swissinfo

Indian money in Swiss banks rise to over Rs 14,000 crore The Economic Times
“Indians’ money in Swiss banks has risen to over two billion Swiss francs (nearly Rs 14,000 crore), despite a global clampdown against the famed secrecy wall of Switzerland banking system.”

U.S. tax case deal to trigger Swiss bank consolidation Reuters

Investment In Jersey Seen As A Safe Bet Tax-News
The story highlights issues of the Finance Curse, and captured state scenario.

UK delegation promotes beneficial ownership registry in Cayman Compass Cayman

China spends billions to fund Caribbean ambition IFC Review / South China Morning Post

Argentina’s World Cup captain Lionel Messi exempt from tax fraud trial Marca
“A report from the prosecutor considers that the player is not guilty, although he did commit the offences of which he was accused”. The investigation continues into his father as a suspect.

Apple tax affair is not slam dunk the Government says it is The Irish Times
“If State’s defence is watertight, why did the European Commission establish a formal investigation?”

Much of What You’ve Heard about Corporate “Inversions” Is Wrong Citizens for Tax Justice

The alternative offshore awards? Financial Secrecy Media Monitor


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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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