Vietnam legislates on country by country reporting

April 24, 2017   AllAsia, Blog

There’s a good development in Vietnam we’d like to share with you via Policy Advisor Economic Inequality and Tax Justice Francis Weyzig of Oxfam Novib. He says,

“Vietnam has introduced a legal requirement for domestic subsidiaries to provide a copy of the global Country By Country report directly to the Vietnamese tax authority. This way, Vietnam does not have to rely on tax treaties or information exchange agreements to the get information on foreign parent companies. It provides a great example for other countries to follow, so congratulations to my colleagues in Vietnam for this great milestone!”

The decision by Vietnam to require local filing by multinationals that wish to operate there is exactly what we have argued countries should do – instead of getting bogged down in the complexities of an OECD process that may never yield any data.Vietnam

The Panama Papers, 1 year on: our April 2017 Tax Justice Network Podcast

April 20, 2017   Blog, Regular Features

In our April 2017 Taxcast: the Panama Papers, one year on – we talk to the journalists who got the scoop. Plus: we discuss the raid on Credit Suisse, and new data exposing the profit shifting shennanigans of the EU’s biggest banks.

Featuring: The Panama Papers scoop journalists and Pulitzer Prize winners Bastian Obermayer and Frederik Obermaier of the Süddeutsche Zeitung newspaper, and John Christensen of the Tax Justice Network. Produced and presented by Naomi Fowler for the Tax Justice Network. The book ‘The Panama Papers: Breaking the Story of How the Rich and Powerful Hide Their Money’ is here.

Our April 2017 Spanish Podcast: Justicia ImPositiva, nuestro podcast de abril 2017

Welcome to our monthly podcast and radio programme in Spanish, Justicia ImPositiva with Marcelo Justo and Marta Nuñez, downloaded and broadcast on radio networks across Latin America and Spain. ¡Bienvenidos y bienvenidas a nuestro podcast y programa radiofónica! (abajo en castellano). Our monthly podcast in English, the Taxcast will be out soon, talking to the journalists who got the Panama Papers scoop. Catch up on last month’s here and watch this space…

Beneficial Ownership: a Tax Justice Network checklist

April 13, 2017   Beneficial Ownership, Blog, Reports

We’re pleased to say that the world is moving towards the registration of beneficial owners (BOs) who are the natural persons who ultimately own, control or benefit from legal persons (e.g. companies) and legal arrangements (e.g. trusts). If made public, these registries would increase financial transparency. Public registers of BOs are the only way to prevent criminals from hiding behind opaque structures and nominees from facilitating tax evasion, money laundering, fraud, and other forms of corruption, including the financing of terrorism. They are also a prerequisite for the smooth functioning of markets by providing basic information for market participants and regulators so they know who is doing business where, as well as for the wider understanding of patterns of national and international economic activity.

Open Cayman: Reputation, rhetoric and reality

April 12, 2017   Blog, Financial Secrecy Index, Secrecy

By Alex Cobham

Last week I took up the kind invitation of the government of Cayman to speak at their conference on ‘Tax Transparency in the Global Financial Services Ecosystem’, and to meet with staff from the monetary authority, statistics office and corporate registry; and with a range of industry representatives including those from the compliance association and Cayman Finance. Above is a video of my presentation; and here a few reflections on the divergences between reputation, rhetoric and reality; and on where things now stand.

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