Links Dec 10

Former Swiss Banker Collapses During WikiLeaks Data Trial Bloomberg “Elmer, 59, is accused of violating the country’s financial secrecy laws in a campaign to raise awareness of the use of Swiss bank accounts for illegal activity including tax evasion”, and recent blog Show trial of Swiss whistleblower Elmer now in 9th yearSee also Elmer trial highlights whistleblowing dilemma Swissinfo, which tries to be impartial, shows bias by describing the persecuted whistleblower as ‘notorious’

Mafia Money: Follows a money laundering trail in Luxembourg and Cayman, also Switzerland, Liechtenstein and San Marino  Il Sole 24 ore (In Italian)
For a rough translation to English via Google see here

Luxembourg Leaks stories around the world ICIJ
The Luxembourg Leaks project brought together more than 80 journalists from media organisations all around the world. Explore the map to see all their stories. See also earlier blog Luxembourg Leaks 2: Koch Industries, Disney, Skype edition

Luxleaks II: the European Union’s response should involve tax harmonisation Platformes Paradis Fiscaux et Fiduciarires (In French)

Luxembourg tax files: can Jean-Claude Juncker weather the storm? The Guardian
See also: Juncker admits he is ‘weaker’ after fresh batch of Luxleaks revelations EurActiv

EU pledges to intensify fight against tax avoidance The Irish Times
“European Commission denies Juncker has questions to answer”

Public anger over tax bound to force reforms The Irish Times
“One of the striking features of the Luxembourg disclosures is the existence of companies with billions of euro in assets but no employees.”

Israeli Swiss bank tax evasion investigation widens Globes

Under pressure Swiss banks eye Chinese wealth Business Times
See also recent blog Switzerland signs up for automatic info exchange. But there’s a catch.

Australian Tax Office tax amnesty nets billions, but hunt for rich with secret Swiss accounts continues The Age
“Aside from Switzerland, … other countries where income and assets were hidden included Hong Kong, Israel, Liechtenstein, the Bahamas and Panama.”

Australian Treasurer Hockey faces uphill battle to squeeze tax from multinationals: experts The Sydney Morning Herald

U.S. sues Deutsche Bank for alleged tax fraud, seeks $190 million Reuters
See also: Deutsche Bank Sued by U.S. Over Alleged Tax Scheme Bloomberg

Too big and too scary, but the global fat cats can be chopped down to size The Guardian
“We need to break up multinationals and leave tax dodgers nowhere to hide”

 


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