From Robert Goulder of Tax Analysts, in the wake of the Luxleaks scandal involving the exposure by the International Consortium of Investigative Journalists (ICIJ) of large numbers of secret Luxembourg tax deals for multinationals, a reminder that Luxembourg isn't alone in its secrecy: "The IRS … [Read more...]
Archives for 2014
Swiss to vote on “millionaires’ tax.” Cue scare stories
On November 30 Swiss people will vote in a referendum on the so-called "lump-sum taxation" system, a preferential tax regime for certain wealthy foreigners who are resident in Switzerland but don't work there. To simplify, the 5,000-odd people who qualify for this special tax regime get taxed … [Read more...]
Links Nov 18
Why is the largest gold mine in South America incurring losses? BBC Mundo (In Spanish) India: G20 backs Modi's pitch for repatriation of black money Business Standard India: Black money probe gets trickier as trail goes beyond Switzerland Business Today … [Read more...]
California’s tax hikes versus Kansas’ tax cuts: early results now in
From a new paper by Paul Caron of Pepperdine University and Joseph Bankman of Stanford University: "The conventional wisdom in California two years ago was that raising taxes on the wealthy would harm the economy and doom any politician who dared touch this third rail. Instead, the public … [Read more...]
The Offshore Wrapper: a week in tax justice #40
UK Beneficial Ownership Registry: kicked in the Djangoolies? A public register of beneficial ownership is seen by many as a vital tool in the fight against global tax evasion, money laundering and other illicit flows. The UK has so far been a leader on this issue and wishes to be one of the first … [Read more...]
Patent boxes: progress, or more racing to the bottom?
We've written quite a bit about patent boxes in the last few days. A Patent Box is a tax incentive that reduces effective corporation tax rates on income attributable to patents, subject to certain conditions. We at TJN think they are generally a terrible idea. In two patent box blogs last week … [Read more...]
Links Nov 17
G20 tax avoidance pledge 'still leaves poor countries vulnerable' The Guardian G20 tax reform plan should prevent another Lux leaks The Conversation BEPS and the Politics of Tax Power Women for Tax Justice In Finland, Tax Day Is the Best Day Foreign Policy France, a Tax Haven? Yes, for … [Read more...]
The OECD’s corporate tax project: a remake of an old film?
This isn't a guest blog but something a little similar: a substantial section translated from an important Thomsonreuters article in Spanish by Antonio Figeroa, a former president of the UN Tax Committee and a top Argentine tax official. The headline is ours. Why is the OECD only now cracking … [Read more...]
Links Nov 14
Open letter to the G20: exposing the corporate shell game is good for business – and the world - Mo Ibrahim and colleagues The Guardian Ending corporate secrecy: within our reach but slipping away Eurodad Calling on the G20 to Unmask the Corrupt Transparency International Jersey’s PR … [Read more...]
Global Investor Groups Support Tax Justice and Transparency
From Corporate Governance, a news release basically taking a series of core tax justice positions ahead of the G20 summit meeting in Brisbane this weekend: Investors Back Global Tax Reform and Transparency In a global first, a group of institutional asset owners and managers are jointly calling … [Read more...]
SPERI: The Finance Curse as New Grand Narrative
New reports on OECD and developing countries: progress, but far to go
A couple of days ago the OECD published a document called The BEPS Project and Developing Countries: from Consultation to Participation which has three key elements: first, inviting ten developing countries to participate directly in its Committee on Fiscal Affairs and subsidiary bodies; second, to … [Read more...]
Report: a third of French banks’ foreign subsidiaries are in tax havens
From the French platform on tax havens Plateforme Paradis Fiscaux et Judiciaires, coordinated by CCFD-Terre Solidaire and Secours Catholique Caritas France, a new report looking at the first figures published by French banks this year, under requirements for country by country reporting. … [Read more...]
Links Nov 13
Rich have more influence than poor over tax reform Christian Aid Rise of Swiss gold exports to India raises questions swissinfo Madoff Trials in Geneva Loom Six Years After Fraudster Confessed swissinfo "Madoff’s deception was a blow to Geneva’s reputation as a safe place to do … [Read more...]
The UK Patent box – will it come back in through the back door, accompanied by Germany?
We've just written a blog about the UK's nasty, disingenuous and hypocritical patent box regime, and how it has successfully been spun as a "watering down" of the rules under pressure from Germany. The blog points out that the joint UK-German announcement, which is quite short, is cryptic. It … [Read more...]
