Facebook’s £3,169 UK corporate tax bill in 2013 was less than a zone 1-9 yearly London travelcard City AM
… or almost half that of the average Londoner’s income tax bill, due to use of the “Double Irish”. See also: Facebook London staff get tens of millions in shares – but pays no tax in the UK The Independent
Panama and Colombia to negotiate tax information-sharing deal Reuters
See also earlier blog Panama voices call it “Badge of Honor” to be called a tax haven
Switzerland To Add Info Exchange Provisions To All DTAs Tax-News
But, only “on request”. For explanations and resources on information exchange see here.
OECD gives cautious welcome to Knowledge Box tax scheme The Independent
See also recent blog: The UK’s “Patent Box” – nasty, disingenuous and hypocritical tax law
Headwinds for multinationals’ tax tricks Bilan (In French)
Confusion over Fatca deadline for trusts Financial Times (paywall)
“Trustees of private family trusts are being urged to register with the US tax authority by next week or risk non-compliance with new counter-tax avoidance legislation.”
Singapore jostles with Hong Kong for financial crown Financial Times (paywall)
Hong Kong’s Nine Dragons District Becomes Hunting Ground for UBS swissinfo / Bloomberg
FACT Coalition Welcomes AbbVie Decision to Remain in U.S.
See also: Obama’s Inversion Crackdown Not Enough To Keep Chiquita In America Huffington Post, and Winners and Losers Emerge In Wake of Treasury’s New Tax Rules The Wall Street Journal
Italy World Cup hero Cannavaro probed over tax fraud Football.co.uk