Links Aug 7

OECD Releases New Peer Review Reports Tax-News

Part 1 of a Report to G20 Development Working Group on the Impact of BEPS in Low Income Countries OECD
See also: OECD releases public request for input on BEPS Action 11. For TJN’s briefing on BEPS, see here.

Follow the money to root out threat of financial crimes The Hill

Special Report: How scams and shakedowns brought Ukraine to its knees Reuters

Bangladesh – Raise tax collection: UNESCAP The Daily Star

Banking Secrecy May Not Be Over: The Indian Predicament International Policy Digest
See also: Minister of State for Finance Nirmala Sitharaman says govt has created legislative framework to tackle black money issue First Post

Russian Finance Ministry to exclude Malta from offshore zones RAPSI

The 1% May Be Richer Than You Think, Research Shows Bloomberg
“The more money that you have, the easier it becomes to hide that and avoid taxes”. See also video How the Top 1% Hoard Their Cash Offshore

Court Deals Blow to KPMG, Others Marketing Bond-Linked Tax Shelters Bloomberg BNA

Jersey To Oust Abusive UK Tax Scheme Promoters Tax-News

Africa Leaders Summit: America’s dirty little secret The Hill

America’s tax-cut obsession is colliding with reality in Kansas Quartz

Obama Aides Let Delphi Use Tax Tactic President Assails Bloomberg
See also: Walgreen Stays in U.S. as It Buys Rest of Alliance Boots Bloomberg On how the Obama administration actually helped one US company do an offshore tax inversion, Bern HQ for Walgreens off the cards swissinfo, and TaxProf’s list of links in More Tax Inversion News

Sheppard on International Tax: What’s Gonna Work? Teamwork. Tax, Society and Culture Blog

Standard Chartered faces fresh US fines over money laundering rule breach The Guardian


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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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