Links Aug 15

Ending poverty devex

Switzerland proposes severe punishment for bank secrecy breach Zee News
A fresh setback to India’s efforts to get details of the so-called HSBC list from Switzerland. See also: Swiss Federal Council advocates better protection of bank client data Kuwait news Agency, reporting that “the relationship between the client and the financial institution in Switzerland will not be affected by the [Automatic Exchange of Information] AEOI”.

Switzerland “suffering under Brazil’s arbitrary tax decisions”  Financial Secrecy Media Monitor

HSBC Argentina under investigation for alleged tax evasion and money laundering Noticieros Televisa (In Spanish)
See also: HSBC raided in laundering investigation Buenos Aires Herald

UK regulator rates Cayman ‘high risk’ Compass Cayman

Controversy over QCs who give ‘deliberately misleading’ tax advice STEP

UK: HMRC says offshore trusts cannot use Liechtenstein settlement facility Financial Times (paywall)

UK: Call on your council to support Towns Against Tax Dodging ActionAid

Tax changes must be in tandem with other states – US chamber The Irish Times
See also TJN on Tax ‘competition’ – more accurately known as Tax Wars here.

The New Tax Fad: Are Corporate Inversions Fair? Bloomberg TV
Video briefly and clearly explains the inversion issue.


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Launch of international research collaboration, #AltAusterity

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RB tax avoidance – company calls for public country by country reporting after Oxfam report reveals profit shifting

pictureOxfam has today released a report on tax dodging by RB, the company formerly known as Reckitt Benckiser and the maker of thousands of well known household products. The report looks at the 2012 restructuring of the company which saw it set up ‘hubs’ in the Netherlands, Dubai and Singapore, all well known corporate tax […]

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Half measures mean Mauritius will continue to be a tax haven for the developing world

MauritiusThere was news this week that Mauritius has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). This is an initiative from the OECD to allow countries to take measures designed to stop tax avoidance by multinational companies and put them into their existing network of […]

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G20: Pressure rising on tax haven USA

HamburgWhilst the eyes of the world focused on the isolation of the US from the ‘G19’ position on climate change, something remarkable played out elsewhere in the process. Following closely the common EU position that we highlighted a few days ago, the G20 communique devotes important space to tax justice. It’s so good we quote […]

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Will the G20 ever end the global problem of tax avoidance and tax evasion?

HamburgAhead of the G20 Summit in Hamburg this week our own George Turner has published this op-ed in the German newspaper Die Tageszeitung today. The article discusses why, despite sustained political engagement from world leaders, we are still some way from solving the problem of tax avoidance and tax evasion. Here’s an English translation of the article:

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