Welcome to this month’s podcast and radio programme in Spanish 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 radiofonica! (abajo en castellano). In this month’s programme:
Global Week of Action to #EndTaxHavens! – 1 to 7 April 2017 Global Alliance for Tax Justice
ICTD Summary Brief 6: Tax and Gender in Developing Countries: What are the Issues? International Centre for Tax and Development
The Political Economy of Long-Term Revenue Decline in Sri Lanka International Centre for Tax and Development
Did a little-noticed tax exemption law turn Israel into a criminals’ paradise? The Times of Israel
Cites TJN’s Moran Harari and George Turner
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: 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
Studies links institutional investing to corporate tax avoidance Accounting Today
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.
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 Financial Secrecy Index ranks jurisdictions according to their secrecy and the scale of their offshore financial activities. 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.
New recommendations to help investors engage on tax UN Principles for Responsible Investment (PRI)
Panama Papers: Mossack Fonseca offices raided over Odebrecht bribery scandal The Guardian
See also: Swiss institute: Peru corruption could reach billions swissinfo
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.
Global investment flowing through tax havens grows by $700bn Public Finance International
Luxembourg expects more companies to leave over tax scrutiny Financial Times
“Finance minister expects some international groups to follow lead set by McDonald’s”
‘Appealing Apple tax decision a mistake’ – academic Irish Independent