Links Aug 19

“Tax is the Lifeblood of Democracy”: An Interview with John Christensen of the Tax Justice Network Spirit of Contradiction

Australia: Miners in a royal spin over tax contribution The Sydney Morning Herald

Pakistan: Our Swiss dilemma The News on Sunday

Monaco $400 Million Penthouse Secrecy Booms: Real Estate Bloomberg
On “tax tourism”: “Developers prepare for an influx of millionaires and billionaires escaping higher taxes or a loss of banking privacy”, as Switzerland’s financial-secrecy appears to be crumbling.

UK Prime Minister Cameron family fortune made in tax havens The Guardian

UK government looks to make offshore tax evasion a criminal offence City Wire

Bangladesh: Drive launched to check tax evasion through transfer pricing The Daily Observer

U.S.: 20 Tax Dodgers: $240 Million for CEOs, Big Loss for the American People Center for Effective Government

Corporate foreign tax moves have bedeviled U.S. for decades Reuters

Credit Suisse played role in Espirito Santo collapse-WSJ.com Reuters
The Swiss bank helped put together billions of dollars in securities that were issued by offshore investment vehicles.

Citibank could lose Argentina banking license New York Post
A bank losing its license is a very serious step. We have asked the question as to why this did not happen in the tax evasion cases of Credit Suisse and UBS, allowed to continue business in the USA.

When companies flee U.S. tax system, investors often don’t reap big returns Reuters
See also: NY Times: Behind Closed Doors, Obama Crafts Executive Action on Tax Inversions TaxProf

Another French footballer under tax evasion radar swissinfo

America revealed as top spot for China’s “naked officials” ICIJ


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Launch of international research collaboration, #AltAusterity

alt austerityToday is the launch of #AltAusterity, a new, international research collaboration of which Tax Justice Network is a partner.  The project aims to stimulate public debate on the subject of austerity though high quality research. It is a response to the lack of evidence which has underpinned the current policy agenda on austerity. The project […]

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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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