Links Oct 7

ActionAid Says Mines Arm Twisting Zambia Over Tax Refunds allAfrica
See also: ActionAid Accuses Glencore of Strong-Arm Tactics allAfrica

Get ready for UK extractive industries disclosure rules The FCPA Blog

Indian, Swiss tax authorities expected to meet over controversial ‘HSBC list’ The Economic Times

Brussels targets Amazon’s Luxembourg tax deal Financial Times (paywall)
“The European Commission is poised to launch a formal in-depth probe into its serious concerns over improper state aid, dragging Amazon into a multi-pronged clampdown on sweetheart tax deals that has already ensnared Apple in Ireland and Starbucks in the Netherlands.” See also: The EU confirms that Amazon has a tax avoidance case to answer Tax Research UK

How Apple’s Cork HQ became the centre of a bitter global war over corporate tax avoidance The Guardian
See also: Europeans Accuse Ireland of Giving Apple Illegal Tax Break The New York Times, and Apple’s Irish Luck The New York Times

Convicted money launderers now whistleblowers Cayman News Service

FATCA To Catch Trust Companies, Trustees Bahamas Tribune

Spanish activist group accuses Sivasankaran of global land grab livemint
“GRAIN has uncovered a worrying picture of how foreign investors are grabbing the lands of rural communities in Africa and Asia and setting up complex corporate structures to facilitate tax avoidance, kickbacks and obscene payouts to their directors”.

US Tax Inversion Planners Respond To Treasury Measures Tax-News
See also: Obama’s tax rules claim first casualty The Hill

KPMG aren’t buying the tax and morality line Tax Research UK
See also earlier blog: PWC report endorses country by country reporting for banks

London Can’t Afford To Turn A Blind Eye To Corrupt Money Transparency International / Financial Transparency Coalition Blog

Switzerland To Keep Lump-Sum Tax For Foreigners Tax-News


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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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