Links Aug 13

Pakistan: Government declares tax evasion as money laundering The Nation

Cayman: Tax authority ordered to pay court costs Compass Cayman
Cayman companies challenged exchange of tax and beneficial ownership information with Australia.

Illicit capital flowing out of Africa often benefits foreign investors Thought Leader

Africa: Why Are We So Poor? Yet We Are So Rich? allAfrica

Africa: Blocking the Extractive Sector Leakages allAfrica

No influx of European wealth for Singapore Financial Times (paywall)
Singapore strenuously denies it is a tax haven.

Transfer Pricing Questions Arising in Bankruptcy, Whistleblower Cases Bloomberg BNA

Elites Finally Starting to Get that Inequality is Messing Up Growth naked capitalism

Swiss banks return to the United States swissinfo

Why an American pipeline giant is volunteering to pay more taxes Quartz

Yesterday’s Inversion Buyers Are Next Targets: Real M&A Bloomberg
“Walgreen was a fluke — companies are still moving their tax addresses abroad in droves” – Jesse Drucker

UK: Clients could face jail over offshore disclosure facilities Economia
Clients could face jail, “because their advisers do not know enough” about offshore disclosure facilities.


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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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