Links Jul 10

Swiss Banks’ Tradition of Secrecy Clashes With Quests Abroad for Disclosure The New York Times

Four of the 10 richest Singaporeans are expats saving millions in taxes Quartz
See also: Singapore raises maximum jail term for money laundering globalpost – Authorities now allowed to prosecute cases in Singapore that involve the evasion of foreign taxes, “so long as tax evasion is illegal in the foreign country and were committed with the wilful intent to evade tax.”

Gabon signs Global Tax Convention Business Ghana
Gabon has become the seventh African country to sign the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters

Bulgarian Parliament Amends Law on Offshore Entities Novinite
Companies with opaque ownership barred from government contracts

Finland: Arhinmäki calls for measures to curb tax evasion Helsinki Times

Four Out of Five Wealthy Greeks Evade Taxes Greek Reporter

Ongoing searches at several companies in Romania in tax evasion case, damage estimated at EUR 1.5 million Romania-Insider

The shame is big tax dodgers slip the net The Sydney Morning Herald

Offshore tax deals on the rise, says top Dem The Hill

How funds will benefit from Fatca fundweb
Interesting take on Fatca from tax director of the Investment Management Association (IMA)

India-UK commit to jointly deal with tax evasion menace Business Standard

UK Fatca: Information on expats opening offshore accounts to be shared with HMRC The Telegraph


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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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