Links Jul 3

Africa: Regional integrated tax systems needed to curb illicit financial flows New Vision
See also: Why Africa Must be at Heart of Global Tax Reforms Chimpreports.com

Switzerland Agrees Tax Regime Review With EU Tax-News

IMF Urges Caribbean To Cooperate, Not Compete Tax-News
Christine Lagarde, IMF Managing Director, says: “By definition, a race to the bottom leaves everybody at the bottom.”. See also our page on “Race to the Bottom” here.

Russian authorities to offer tax amnesty for offshore companies Russia Beyond the Headlines

Egypt’s richest man sentenced to prison for tax evasion Global Construction Review

Renzi Pressed to Put Google, Facebook Taxes on EU Agenda Bloomberg

Will the EU’s new anti-money laundering rules have teeth? Eu Observer

BVI: Premier signs tax-information agreement with Japan BVI Beacon
Described as “a move designed to bolster the reputation of the territory’s financial services.” Read here for resources on information exchange, and to understand why multilateral and automatic information exchange is needed, rather than bi-lateral and on-request.

India: Swiss money trail leads to gold and diamonds Business Today

Britain is a corporate tax haven – that’s why US firms are keen to uproot The Guardian

The days of banking blind are long gone Moneyweb
See also: An opportunity missed rather than a case settled Financial Times (paywall), and BNP fine sparks calls for cultural change Financial Times – BNP compliance officers repeatedly warned senior execs that the bank was breaking US law, and Swiss finance heavyweight slams BNP Paribas fine swissinfo

After BNP, U.S. targets range of firms in crackdown on illicit money flows Reuters

UK: Red faces at Serious Fraud Office over taxman’s fine The Independent


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