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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Event: Making Tax Work for Women in the UK and Globally

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Historic event on women, human rights and tax justice in Bogota

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