From Brass Moustache productions:
“Where is the gold buried when crisis is looming and society begins to demand its share?
With eloquence and polite mutual support, the British business establishment elegantly winds its way out of society’s demands of accountability and community, and vast amounts of money are diverted away from the state coffers through a net of confusing transactions, Caribbean tax havens and a shelter of bureaucracy. All wrapped up in the “Union Jack”.”
Tackling tax evasion: First Standard Automatic The Economist
See also: Global tax standard attracts 42 countries Financial Times (paywall) – reports cite TJN’s response to the new OECD report on automatic information exchange
Switzerland, it seems, has rejected the OECD’s new project on automatic information exchange, out of hand.
TJN is pleased to publish a new briefing paper looking at the implications for developing countries of the OECD’s widely referenced Base Erosion and Profit Shifting (BEPS) project, which is designed to find ways to tackle the deficiencies in the international tax system. It is available in English and Spanish.
The U.S.-based Tax Analysts has just published a fascinating article with the bland title Should Donor Countries Push Tax Reform? The answer, we think, is generally ‘yes’ – though it depends, of course, what we mean by ‘reform.’ The article notes:
From Le Monde:
“The corporations in the CAC 40 [France’s benchmark stock exchange index of the 40 biggest French stocks] have over 1,500 affiliates in tax havens, according to a study published on Thursday by the journal Project . . . cross-checked with authoritative studies data (the work of the Tax Justice Network Association in particular) and the most recent list of tax havens of the [OECD] Global Forum on Transparency.”
. . .
Its authors estimate that, according to their research, ‘their presence in tax havens has not diminished since 2009.”
Hat tip: Mathilde Dupré.
OECD takes aim at tax anomalies across borders Irish Examiner
OECD head Ángel Gurría said: “… the options are simple: If you cannot tax the big guys you are left with the little guys and middle class to tax, and even if you tax them up to their noses, it won’t be enough. And then politics becomes impossible.”