Links Jan 15

Switzerland unveils draft laws to dismantle bank secrecy Financial Times (paywall)
“The Swiss government has taken a further step towards dismantling its once untouchable bank secrecy laws, by unveiling draft legislation that would pave the way for automatic information exchange about offshore accounts held in Switzerland.” See also recent blog Switzerland signs up for automatic info exchange. But there’s a catch

‘Sweetheart’ tax deals inquiry a setback for Jean-Claude Juncker Financial Times (paywall)
“The European Parliament is poised to launch a full inquiry into sweetheart tax deals with multinational companies, in a political setback for Jean-Claude Juncker, the European Commission president and former premier of Luxembourg”. See also: Euro MPs back LuxLeaks tax probe Luxemburger Wort, and LuxLeaks Inquiry on hold until 5th February 2015 in Conference of Presidents Sven Giegold

EU to publish details of probe into Amazon’s Luxembourg tax deal Reuters

UK oil & gas association urges further tax breaks Offshore magazine
Oil & Gas UK wants more tax breaks because of low oil prices. If there are no profits, there are no taxes to pay…

USA: Labor Department Shouldn’t Grant Criminal Bank Credit Suisse Special Privilege to Gamble with Workers’ Retirement Savings Global Financial Integrity Press Release

How an Obscure Tax Loophole Brought Down Obama’s Treasury Nominee Bloomberg

Ireland: ‘Knowledge box’ tax rate likely to be 5% The Irish Times
“Tax is intended to take the place of the controversial ‘Double Irish’ mechanism.” See also recent blog Patent boxes: progress, or more racing to the bottom

Argentina suspends HSBC Argentina’s money transfers abroad Reuters

StanChart to close Swiss private bank after sale founders Reuters
Royal Bank of Canada is also looking to sell its Swiss banking operations

Australian Taxation Office clamps down on super rich tax dodge Herald Sun

Wikileaks for Africa? Introducing Afrileaks The Guardian


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Swiss Politicians seek to block automatic exchange of banking information with developing countries

Photo by Pedro SzekelyCould we be seeing a return to the bad old days of Swiss Banking? A right wing party in Switzerland, the Swiss People’s Party, has launched an assault on the automatic exchange of banking information, according to Swiss Daily Newspaper Tages Anzeiger.


The Offshore Wrapper – Data havens and new crackdowns on tax avoidance

Gorgeous Computer FixingsBelow is the text of the offshore wrapper,  a weekly roundup of news from the world of tax justice sent out to our mailing list. If you haven’t signed up yet and would like to receive the wrapper in your inbox every week – you can do so here.


Open data for tax justice – designing a new CbCR database

OD4TJlogoThis week, TJN participated in a design sprint in London organised by Open Knowledge International. The purpose of the sprint was to bring together coders and tax justice advocates to start work on building a database for the new country by country reporting data that we hope will be released in the future, if public […]


New research on key role major economies play in global tax avoidance

offshore-network_colorcorrectedAn important new study on Offshore Financial Centres (OFCs) from the University of Amsterdam has made some fascinating discoveries, challenging, as the Financial Secrecy Index has, the popular misconception that tax havens are only palm fringed little islands and exposing that in fact major economies play a key role in global tax avoidance. Specifically they’ve […]


Launch of international research collaboration, #AltAusterity

alt austerityToday is the launch of #AltAusterity, a new, international research collaboration of which Tax Justice Network is a partner.  The project aims to stimulate public debate on the subject of austerity though high quality research. It is a response to the lack of evidence which has underpinned the current policy agenda on austerity. The project […]


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