Links Jun 30

Argentina’s Vice President Charged With Bribery abc news
Vice president accused of hiding behind a shell company so he and other secret partners could benefit from unusual tax exemptions and lucrative government contracts.

Zambia Refusing to Release $600 Million in VAT Refunds to Mining Companies Zambia Reports

U.S.: IRS Will Now Accept an ‘I Was Clueless’ Defense for Offshore Tax Evaders Newsweek

South Africa Biggest Losers of Transfer Pricing IOL

Finance Minister: France adamant Bermuda is a tax haven BDA Sun
The Bermuda Finance Minister comments: “There is a stark difference between the way taxes are viewed on this side of the Atlantic and in France. In France taxes are viewed as a moral obligation while over here it is viewed as a legal one.”

Global Christian leaders call on G20 to tackle tax evasion Ekklesia

Message to Jean-Claude Juncker: will you publicly back EU efforts on tax & transparency? Global Witness

Don Quijones: Mini Tax Havens – How Europe’s 1% Gets to Pay Only 1% naked capitalism

Queen’s bank Coutts denies al-Qaeda links The Telegraph
Containers of data from Coutts Cayman, en route to a data centre in Geneva, were seized by German customs officials. Shows how varied are the risks, for a client hoping to hide their financial business, of banking secrecy being broken.

It’s Time for Prince Charles to Join Twenty-First Century Huffington Post
Prem Sikka raises some questions about the latest accounts published by the Duchy of Cornwall (controlled by Prince Charles) and  Prince Charles’ business privileges. The duchy, a “sprawling commercial conglomerate”, is exempt from paying corporation tax on its profits and capital gains tax on profits made from the sale of its assets.

Welcome to London – the dictators’ playground Global Witness

Who is buying up Myanmar’s oil and gas? Global Witness
Infographic showing how ownership of Myanmar’s recently awarded oil and gas blocks is obscured by shell companies.

BNP Paribas braced for $8.9bn fine The Guardian
And the fine could be tax-deductible

Jersey group in campaign to create ‘Bitcoin Isle’ BBC


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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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