Links Dec 10

KPMG’s Regulatory Arbitrage Culture Paper by Dr. Atul K. Shah
“The Big 4 … Overwhelming evidence has been emerging in recent decades about their pro-active roles in tax avoidance and arbitrage…”

Trade Secrets: Coca-Cola’s Hidden Formula for Avoiding Taxes 100Reporters

Shell and Eni’s Misadventures in Nigeria Global Witness
“The OPL 245 case provides a clear and compelling example of why laws mandating greater transparency over company ownership, and the payments companies make for oil, gas, and minerals, are needed.”

Italy says international tax dodger amnesty is bringing in billions The Guardian

RBS pays €23.8m to settle tax evasion inquiry into Coutts’ Swiss operation The Guardian

What is Wrong at the Canada Revenue Agency: And How to Fix It. Canadians for Tax Fairness

Yahoo might break itself up to avoid paying taxes on its Chinese holdings Oxfam -The Politics of Poverty

U.S.: Justice Department Settlement Successfully Releases More than $115 Million in Alleged Corruption Proceeds to People in Kazakhstan
Switzerland and U.S. cooperate to ‘return’ $115m in alleged corruption proceeds to Kazakhstan people.

UK: HMRC publishes draft legislation designed to extend tax evasion offences to companies who failed to prevent it happening City A.M.

UK: Anger as former banking head lands top Treasury job Politics Home
“A former Conservative Cabinet minister who defended bankers throughout a string of scandals has been appointed to oversee the simplification of the tax rulebook”

Tax avoidance remains the top issue the British public thinks business needs to address Tax Research UK

Cadbury’s pays no tax on UK profits: Firm accused of treating British with contempt after not paying a penny last year despite profits of almost £150million Daily Mail