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Links Mar 2
Tax evasion: Leaks on tap The Economist Cites TJN and our report identifying more than 30 loopholes and exemptions in the OECD’s Common Reporting Standard (CRS). Tax Power Campaign Africa Coordinator – Job Opportunity with ActionAid The Looting Machine: Warlords, tycoons, smugglers and the systematic theft of Africa’s wealth New book by Tom Burgis Goldman Sachs: Too Big to Pay
Read the full article…Links Feb 26
European Parliament tax evasion investigation kicks off; proper inquiry must be swiftly ramped-up Sven Giegold Indonesia to crack down on corporate tax avoidance via transfer pricing Reuters Zambia: Why discrepancies in our copper trade records? Zambia Daily Mail “… we cannot easily discount that there is lack of transparency surrounding tax havens such as Switzerland which may preclude Zambian customs
Read the full article…Links Feb 25
Unhappy Meal: €1 Billion in Tax Avoidance on the Menu at McDonald’s War on Want HSBC bosses grilled over Swiss tax scandal – live updates The Guardian Abusive Tax Avoidance and Institutional Corruption: The Responsibilities of Tax Professionals Social Science Research Network Hat tip: Offshore Watch Think Corporate Tax Cuts Create Jobs? Think Again. Center for Effective Government New Countries
Read the full article…Links Feb 24
Economic Campaigner of the Year Tax Research UK HSBC Scandal: why tax havens are fuelling global poverty and how you can help stop it ONE Sign the petition: ask BIS to release secret information about tax havens and expose corruption. Should the HSBC Scandal Spell the End For Trickle Down Economics? Huffington Post The Hidden Billions Behind Economic Inequality in
Read the full article…Women and Tax Justice at Beijing+20: Registration Open
Registration is open for the Queen’s University Feminist Legal Studies International Women’s Day conference Women and Tax Justice at Beijing+20: Taxing and Budgeting for Sex Equality Mar. 6 from noon through dinner Mar. 7 from 9 am to 5 pm To register email Melissa.Howlett@queensu.ca Keynote lecture: Dr. Attiya Waris, School of Law, University of Nairobi, Kenya; Faculty of Law, National
Read the full article…Links Feb 23
Cayman Islands Financial Services: Publication of Beneficial Ownership Consultation Submissions The Quiet Man Who Made Big Trouble for Little Luxembourg Bloomberg See also: ‘I am not a martyr’, says LuxLeaks whistleblower facing jail Financial Times (paywall), and recent blog Will Antoine Deltour become a prisoner of conscience? Revealed: Swiss account secret of HSBC chief Stuart Gulliver The Guardian The HSBC
Read the full article…Links Feb 20
Asian campaigners demand the OECD’s BEPS process do more for developing countries Global Alliance for Tax Justice India: Tax department to issue notice to HSBC on alleged money laundering The Times of India See also: India: Black money probe: Activists, experts fault government for tardy progress The Times of India Steinmetz fingered in a P2, 4 billion tax scandal-Swiss Leaks
Read the full article…Links Feb 19
HSBC : University of Warwick – Top researchers in call for re-think over international undercutting; Expert team warns of ‘race to the bottom’ threatening living standards around the world 4-Traders TJN-Africa’s most recent publications on Transfer Pricing in Africa: Transfer Pricing in Africa: Contextual Issues Processes in Transfer Pricing – Pertinent Issues for African Countries Addressing Transfer Pricing in Africa
Read the full article…Links Feb 18
Map: Who’s hiding the most money in secret Swiss bank accounts? Washington Post Wonkblog Tanzania: Trio to face Public Accounts Comittee on Swiss billions Tanzania Daily News / allAfrica Swiss Leaks: Billions of dollars lost annually in Africa, says ICIJ Caperi Brazil probes link between HSBC Swiss accounts, Petrobras scandal Reuters HSBC’s Geneva office raided as Swiss open investigation ICIJ
Read the full article…Links Feb 17
Response from Eurodad to the Financing for Development Elements Paper Recent posts by The BEPS Monitoring Group (BMG): BMG: The Use of Profit Splits in the Context of Global Value Chains BMG: Transfer Pricing: Risk, Recharacterisation, and Special Measures BMG: Limitation of Interest Deductions BMG: Transfer Pricing Aspects of Cross-Border Commodity Transactions East Africa’s elite have stashed away over $700m
Read the full article…Links Feb 13
Tax havens for despots, criminals and the Fortune 500 The Washington Post Cites Nicholas Shaxson’s Treasure Islands: Tax Havens And The Men Who Stole The WorldSwiss Leaks frequently asked questions answered ICIJ Politicians, regulators face questions over HSBC cases ICIJ HSBC could face prosecution, as Swiss Leaks fallout continues ICIJ France says it did not restrict UK from using HSBC
Read the full article…Links Feb 12
Tackling tax evasion: Follow the money The Economist “As countries share more information, opportunities to squirrel away cash abroad will continue to narrow”. Cites TJN on the Common Reporting Standard (CRS). Private banks must be more than laundries Financial Times (paywall) See also: Private banking: laundromats for the rich Tax Research UK, and earlier blog Quote of the day – Swiss
Read the full article…Quote of the day – Swiss whitewash
From John Gapper in the Financial Times: “In the past, the Swiss private banking industry operated very differently to the way it does today,” HSBC said this week in its mea culpa. Perhaps so, but I recall Swiss banks claiming in the mid-1990s — a decade before this happened — that tax evasion was in the past. After a while,
Read the full article…Links Feb 11
Era of bank secrecy still far from over for developing countries: Christian Aid Wall Street Pays Bankers to Work in Government and It Doesn’t Want Anyone to Know New Republic Links on the #SwissLeaks revelations blogged earlier: Explore the Swiss Leaks Data ICIJ Includes links to related stories from around the world TweetShare
Drug cartels, terrorist financing risk and sanctioned regimes also on HSBC’s books under Lord Green
Press release from Global Witness Systemic failure to stop money laundering or comply with US laws shows need for sanctions for senior executives at big banks The HSBC tax scandal shows that UK law needs to be changed so that senior bankers are held criminally responsible when they oversee their institutions repeatedly breaking the law, said Global Witness in a
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