Tax Justice Blog

Links Feb 13

Brazil’s corruption scandal spreads across South America The Guardian

Founders of Panama Papers Law Firm Arrested on Money Laundering Charges ICIJ

Swiss voters soundly reject corporate tax overhaul Reuters
See also: Switzerland says no to yet more tax abuse Tax Research UK

International experts debate how to end tax havens TJN Latin America & Caribbean (In Spanish)

The case of HSBC: how the bank assisted capital flight from Argentina TJN Latin America & Caribbean (In Spanish)
See the publication by Magdalena Rua in collaboration with Jorge Gaggero, here: Capital Flight IX – The role of international banks and the case of HSBC

New Ghana government commits to implementing beneficial ownership regime Ghana Business News

Canada: Bombardier: Master Class in Tax Dodging Canadians for Tax Fairness

Canada – PM: Close The Stock Option Loophole! Canadians for Tax Fairness

Australia – Tax avoidance: Coalition starts consultation over register for shell companies The Guardian

Australia: Oil and gas giants fight own battle against tax changes Yahoo / The West Australian

Swiss notice to Indian art curator on bank info request The Financial Express

Scots tax haven firm offers to help French avoid tax and social security Herald Scotland

Deutsche Bank Under Scrutiny in Russia Over Tax Practices Bloomberg

Studies links institutional investing to corporate tax avoidance Accounting Today

UK: Government advisers accused of ‘full-frontal attack’ on whistleblowers The Guardian



Trusts – Weapons of Mass Injustice: new Tax Justice Network report

It is a fact that the trust laws of some tax havens openly promote illegality. The reality that some tax havens will not enforce foreign laws (e.g. ensuring non-recognition of foreign laws and judgements that favoured legitimate heirs and former spouses) is even publicly advertised by some offshore service providers, not on the deep web like drugs and illegal weapons, but on the internet, accessed by a simple google search on tax or estate planning.TJN square logo - NOV-2013

Despite this, there has been some reluctance from governments to take on the issue of trusts, and some difficulties posed for governments that have attempted to deal with some of their more problematic features. Today, a new paper called Trusts – Weapons of Mass Injustice from the Tax Justice Network attempts to reopen the debate on trusts, and argues that there is urgent need for effective measures to curtail their activities.

The Tax Justice Network’s webinar on the next Financial Secrecy Index

February 13, 2017   Blog, Financial Secrecy Index

The Tax Justice Network’s Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial financial-secrecy-indexactivities. It’s a politically neutral ranking, the world’s most effective tool for understanding global financial secrecy, tax havens and secrecy jurisdictions, and illicit financial flows or capital flight.  The Tax Justice Network is working hard on the results of the next Financial Secrecy Index.

What’s coming next?

We’re calling campaigners, researchers and lovers of tax justice and financial transparency to make sure you know that tomorrow, on 14th February 2017 at 14:00 CET we warmly welcome you to attend our first Financial Secrecy Index monthly call in the form of a webinar.

Panama Papers Committee investigates in London UK, home to 2,000 ‘enablers’

UPDATE:  15 February 2017, London – Bloomberg has reported that the chairman of the EU’s Panama Papers inquiry has criticised the UK Treasury for refusing to meet with its investigatory team during the recent fact-finding visit to London.  Read more here.

Last year the Panama Papers scandal shook the world and lifted the lid on murky offshore dealings in spectacular fashion. The political consequences and investigations, criminal and otherwise are far from over. The European Parliament set up the Panama Papers inquiry committee tasked with investigating “alleged contraventions and maladministration in the application by the EU Commission or member states of EU laws on money laundering, tax avoidance and tax evasion.” Today Bloomberg reports that the committee begins a series of ‘secret fact-finding meetings’ in London for two days. It has come to the heart of the beast. London

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