Links Nov 18

Why is the largest gold mine in South America incurring losses? BBC Mundo (In Spanish)

India: G20 backs Modi’s pitch for repatriation of black money Business Standard

India: Black money probe gets trickier as trail goes beyond Switzerland Business Today

India: High Court rules against Income Tax dept again, this time in Shell transfer pricing case Money Life
See also: Transfer-pricing case: Bombay high court rules in favour of Shell India Livemint

Pressure on Juncker at G20 summit over ‘Lux Leaks’ revelations ICIJ
See also: Luxembourg taken by ‘complete surprise’ by files The Irish Times, and Luxembourg media questions why Juncker didn’t tell parliament about #LuxLeaks earlier RTL (In Luxembourgish), hat tip @ICIJorg

The Ghost Of Captain Renault Forbes
Tax Analysts’ Robert Goulder points out: “The IRS still operates a secretive process whereby multinationals can negotiate bespoke transfer pricing outcomes. They are called advance pricing agreements, and they have never been publicly disclosed since the program’s inception in the early 1990s. Once they’ve finished busting on Luxembourg, maybe the good folks at the ICIJ can try to crack that nut. Tax Analysts has already tried, but that’s a story for another day.”

Move over Ireland, France is the new tax haven The Irish Times
See also: Biotech throws Ireland a valuable lifeline The Irish Times

Russian Parliament Passes Bill to Tax Offshore Companies The Moscow Times

G20 accord focuses on shell firms as China drops objection The Irish Times

New Zealand To Get Tough With International Tax Evaders: To Work With OECD To Enforce Transparency And Compliance International Business Times

A tax avoidance penalty regime that would make Amazon sit up and take notice David Quentin’s tax & law blog

U.S.: Fleecing Uncle Sam: A growing number of corporations spend more on executive compensation than federal income taxes Center for Effective Government & Institute for Policy Studies
See also: Seven big U.S. companies paid CEOs more than Uncle Sam in 2013: study Reuters

UK: MPs’ report on tax compliance finds HMRC to be slow to take action The Guardian
Permanent secretary of HMRC questioned over agency’s lack of progress after £1.9bn calculation error

On being questioned about tax dodging: Bob Geldof’s Sweary Sky News Interview Shut Down After He Repeatedly Says ‘B*****ks’ The Huffington Post


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