Links Jul 4

FATCA Just a Band Aid for Latin American Tax Evasion Inter Press Service
Cites TJN’s Andrés Knobel, pointing out that the limiting factor for developing countries is that FATCA is bilateral. See also: FATCA: Dropping the bomb The Economist – The article is quite harshly critical of FATCA, but does rightly point out that “As more countries are pushed to share tax information systematically, the focus will turn to America’s willingness (or lack of it) to reciprocate”. Also notes that wealthy tax evaders will still find a way to hide behind shell companies and other structures.

Malawi: Extracting poverty in mines worth billions The Nation

The difference between corporate privacy and secrecy TED / Charmain Gooch, Global Witness

Island better, but still needs more work Manx Radio
Reporting on TJN Director John Christensen’s visit to the Isle of Man to discuss the transparency agenda

Isle of Man launches beneficial ownership consultation Isle of Man.com
See also information on government website here.

Cayman: Publicly accessible CIMA database of directors still a long way off COO Connect

Australian government minister criticized over tax haven investment Shanghai Daily
See also: Financial transparency campaigners question Malcolm Turnbull investment Sydney Morning Herald – Invested in a Cayman-based ”vulture fund”.

Canada Revenue Agency too timid about big-time tax cheats: report Ottawa Citizen

Amazon embroiled in EU tax crackdown Financial Times (paywall)
European officials have demanded that Luxembourg hand over documents relating to Amazon’s tax affairs

Glencore tax bill on $15b income: zip, zilch, zero The Sydney Morning Herald


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Banking Secrecy in China, its related territories and Taiwan

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Is tax avoidance at the heart of Ireland’s economic miracle?

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New Report: HMRC’s “Building our Future” programme

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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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