Links Jun 5

Tax haven: Belgium to blacklist Luxembourg Luxemburger Wort

Belgium targets £390m in unpaid tax as HSBC considers job cuts The Guardian

How the Cayman Islands Became a FIFA Power The New York Times
See also: A U.S. Tax Investigation Snowballed to Stun the Soccer World The New YorkTimes,
Banks wary of doing FIFA business in wake of bribery scandal Reuters, and Blatter was board member for Irish ‘ghost’ company that reaped tax benefits, laundered money FirstPost

Australia: Ireland, Luxembourg tax deals should be used in Australia says advisory board Australian Financial Review
See Fools’ Gold – rethinking competition, and our page on Race to the Bottom

Australia: Coalition says kidnap risk means wealthy need tax reporting exemptions The Guardian
“Abbott government wants to exempt 1,000 private companies from tax transparency measures, partly because of claims of abduction threats”. For debunking the kidnap argument, see here.

EU probe into Apple’s Ireland tax affairs nears end Belfast Telegraph

U.S.: Justice cuts deals with two more Swiss banks The Hill

Harsh realities dawn on Switzerland’s private banks Financial Times (paywall)
“There are quite a few banks that have realised this is the last generation … They’ll milk it for as long as it still walks, and then it’s done.”

Art: the new frontier in the fight against money laundering swissinfo
” … once the question of banking secrecy is resolved, attention will turn to the art world”

UK: ‘Selfish’ Caffé Nero roasted for tax avoidance, after reporting £20mn profits RT
See also recent blog: Caffe Nero: your unpaid taxes would have helped pay for my father’s hospital care

Tax profession just doesn’t get it accountingweb

Buying Your St. Kitts Citizenship May Get More Expensive Soon Bloomberg

The Impunity Trap Project Syndicate

 


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