Links Jul 1

Swiss banks to tell all under FATCA swissinfo
While events are moving in the right direction, such declarations remain something of a smokescreen, as assets can still be hidden within complex structures such as certain kinds of trusts, and of course only the countries that sign bilaterally stand to benefit: principally the United States, at this stage. Developing countries aren’t likely to see big benefits any time soon.

Liechtenstein Sees Final Blow to Rogue Status, Bank Chief Says Bloomberg
Again, assets may be hidden within complex structures. For a story on affairs in Liechtenstein see here. For more background on a scandal involving LGT, the bank owned by the Liechtenstein royal family, see here. And there’s an interesting development on LGT reported in HSBC to Sell Some Swiss Private Bank Assets to Liechtenstein Group Dealb%k

Swiss agree to honour group requests from France STEP

Tax transparency in modern democracies Tax Justice Network of Latin America and the Caribbean (In Spanish)

NGOs using non-binding OECD Guidelines to launch complaints about tax avoidance Tax, Society and Culture

Fresh headache for Kenya Revenue Authority as firms move to tax havens Standard Media

‘Thousands’ in Australian Tax Office sights over tax havens Sydney Morning Herald
See also: Australian with $600 million in tax haven contacts Australian Taxation Office anonymously during amnesty The Daily Telegraph

Barclays made £1.4bn profits in Luxembourg – £100m for each worker The Guardian
See also: Barclays: the bank that just loves Luxembourg and Jersey, but not the UK Tax Research UK

Tax Justice Blog – A Project by Citizens for Tax Justice and the Institute on Taxation and Economic Policy
A new blog just launched. It’s unrelated to ours, we’re international and theirs has a U.S. focus, but they are friends of ours.

Related Posts

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 […]


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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