Links Sep 8

Australia: Calls grow for inquiry into tax avoidance tactics of multinationals The Sydney Morning Herald
See also: Shifting sands: push for government to crack down on corporate profits The Sydney Morning Herald

Myanmar: Crackdown on tax dodgers has tycoons racing to file income declarations, officials say Eleven Myanmar

Kenya: KRA Says Documents Delaying Price Transfer Audits allAfrica / The Star

Trade mispricing: Tanzania among top five revenue losers IPP Media

Public registers would foil tax criminals Cayman

Cayman wealth advisor jailed following US sting STEP

Puerto Rico Luring Buyers With Tax Breaks The New York Times

Extractive Industries: How far does France does dare to go with transparency? Les Amis de la Terre (In French)

Over $30 billion a year in dirty money leaves Brazil – study Reuters

Biggest tax inverters ‘have $21bn offshore’ Financial Times (paywall)
“According to data compiled by Moody’s for the Financial Times, the biggest offshore cash piles held by companies pursuing so-called “tax inversions” belong to Medtronic, a medical devices group; AbbVie, a drugmaker; and Applied Materials, a technology group.”

SwissBanking: 2014 Banking Barometer – Economic trends in the Swiss banking industry

Canada: Doubts mount about Valeant Pharmaceuticals’ tax structures Financial Post
A director of an accounting firm observes: “I’ve seen many examples of companies moving some profits offshore to low-tax jurisdictions, but not to this extent”

Bahamas to Feature Prominently at China Offshore Conference The Bahamas Weekly

Law firms scrutinised in anti-money laundering push Financial Times (paywall)
“Specialist teams are to be sent in to scrutinise law firms amid mounting concerns they are failing to fulfil obligations to report suspicious transactions.”

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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 […]


Banking Secrecy in China, its related territories and Taiwan

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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 ( or CC 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 […]


New Report: HMRC’s “Building our Future” programme

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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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