Archives for 2014
South Africa’s diamond companies: $11m royalties on $1.73bn of production
From 100 Reporters, an article about a major report from the University of Manchester, which is a fascinating case study in transfer pricing. The article begins: "At every step, from mine to ring finger, South Africa’s diamond industry is benefitting from royalty and export tax structures riddled … [Read more...]
It’s (faux) tax panic time again – the U.S./Swiss edition
Bloomberg is carrying one of those tiresome stories entitled Brynner’s Tax Spat Augurs Rush to Give Up U.S. Passports. Tax people too much, it goes, and there'll be a deluge of people rushing for the exit! The story begins: "Almost 50 years after Oscar-winning actor Yul Brynner gave up his passport … [Read more...]
Quote of the day – Google’s tax avoidance
From Domini Social Investments LLC, a corporate pioneer in the area of tax and social responsibility, which recently submitted a shareholder resolution to Google merely to adopt a set of principles on paying tax. The quote goes: "Investors should be asking Google and other multinationals to adopt … [Read more...]
Links May 15
Companies fear BEPS “tax chaos” Economia See also: Global business tax clamp-down could sting U.S. -IRS official Reuters - Is the U.S. undermining the interests of developing countries? See TJN Briefing on BEPS here and information on The BEPS Monitoring Group here. … [Read more...]
Norway pledges to introduce public registry on company ownership
We are happy to report on some good news sent to us by Sigrid Klæboe Jacobsen, Director of Tax Justice Network - Norway. "Today, the Norwegian government today has pledged to introduce a "publicly available, digital registry for information on shareholders of companies". The Norwegian government … [Read more...]
Quote of the day: Elizabeth Warren
Regarding corporations paying their way, the trailblazing U.S. senator Elizabeth Warren: You built a factory out there? Good for you. But I want to be clear. You moved your goods to market on the roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your … [Read more...]
Why it’s so hard to audit hedge funds and private equity
Links May 13
U.S. Congress Moves To Strengthen US Anti-Inversion Rules Tax-News See also: Want Ad: 'Foreign Corporate Spouses Needed For U.S. Companies, Preferably From Low Tax Country' Forbes, and A Deal to Dodge the Tax Man in America Dealb%k Countries slow race to bottom on tax competition Financial … [Read more...]
Another reason why corporations may want to be taxed properly
. . . via top-ranked U.S. tax professor Reuven Avi-Yonah, in a paper entitled Just Say No: Corporate Taxation and Social Responsibility. It is US-focused, but has wide relevance. This, in fact, can be seen as another justification of imposing tax on the corporation: Rather than bear any social … [Read more...]
Report: the black hole at the heart of London’s FTSE100
From Christian Aid, a press release: "The secrecy surrounding thousands of subsidiaries created in tax havens by leading UK companies has created a black hole at the heart of the FTSE100, a new Christian Aid report warns today. … [Read more...]
The Offshore Wrapper: a week in tax justice
The Offshore Wrapper is written by George Turner It’s just take, take, take… Three members of Take That, the highly successful UK boy band, have been caught “on the take” by Her Majesty’s Revenue and Customs (HMRC). … [Read more...]
Links May 12
Asian logging companies 'use British islands for tax dodging' The Guardian "Calls for crackdown as investigation finds huge Indonesian corporations evading tax through network of secret shell companies in British Virgin Islands and other tax havens." New Zealand: the Shell Company Incorporation … [Read more...]
European voters: make tax dodging an election issue
From our friends at Eurodad: Eurodad … [Read more...]
African Countries Lose Billions through Misinvoiced Trade
Press Release - Global Financial Integrity African Countries Lose Billions through Misinvoiced Trade Fraudulent Trade Transactions Channeled at Least US$60.8 Billion Illegally in or out of 5 African Countries from 2002-2011 … [Read more...]
