Welcome to the Offshore Wrapper – your weekly update from TJN.
This week it’s been one year since the Panama Papers were leaked, and a number of organisations around the world have been marking the occasion though the global week of action for tax justice.
In London, activists from the TJN and the Methodist Tax Justice Network held a protest outside the offices of PriceWaterhouseCoopers. Why PwC? Well the auditor has been one of the biggest promoters of tax avoidance schemes for multinationals, as well as having been implicated in a host of other corporate scandals.
The North Korean Connection
The offshore world, with its secrecy and complex corporate structures can throw up some of the most extraordinary connections. One of them was unveiled this week by Finance Uncovered, a global network of investigative journalists.
Only in Belgium
The European Commission has written to Belgium, ordering that country to collect an extra €700m in taxes from at least 35 multi-national companies. The letter is the latest move by the European Commission to use its power over the European single market to clamp down on tax avoiding multinationals.
A New Year Wrapper!
The Authority of Financial (Mis)Conduct
As the first decade of the 21st century came to a close the hangover from two decades of excess in the financial sector finally set in. Banks collapsed and threatened to take down major economies with them. It has been a long hangover, and many are still suffering from it.