Links Jul 28

The DGI of Uruguay, together with the Global Forum on Transparency and Exchange of Information and the CIAT, promote a regional sharing of experiences on Information Exchange Inter-American Center of Tax Administrations (CIAT)

Uruguay news: authorities concerned about “illegal activity” in free trade zones Financial Secrecy Media Monitor

Does new global financial info-share regime leave India high and dry? Hindustan Times
See recent blogs on the OECD’s new information exchange standard here and here.

Swiss bank secrecy: A whistleblower’s woes The Economist
On Rudolf Elmer and the Swiss tax haven’s vicious assault on whistleblowers.

France indicts UBS for money laundering and tax fraud STEP

Ending the race to the bottom: why responsible companies should pay taxes The Guardian
See recent quote by IMF Managing Director Christine Lagarde on the race to the bottom here, and for further resources see here.

Ireland: Accountants Urge Caution From Irish BEPS Response Tax-News

Ireland: Act now on corporation tax to avoid worse pain later Irish Independent

After moving money around, Google paid tiny amount in European taxes arstechnica

Alibaba’s I.P.O. Could Be a Bonanza for the Scions of Chinese Leaders Dealb%k
See the tangled web of Caribbean shell companies.

Cayman registers almost 20% of FATCA Foreign Financial Institutions globally; more than the UK, Switzerland and Luxembourg combined Financial Secrecy Media Monitor


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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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