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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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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