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Links Mar 28
Measuring OECD Responses to Illicit Financial Flows from Developing Countries Report examines OECD’s members progress in tackling money laundering and transnational financial crime. See also: Money laundering, bribery and tax evasion: how to freeze illicit flows The Guardian TweetShare
Links Mar 21
Luxembourg Signs Up to EU Savings-Tax Agreement, Ending Deadlock Bloomberg Bettel: “With Austria, Luxembourg can go ahead and give the green light for the EU savings directive”. See also: Austria, Luxembourg Accept EU Bank-Secrecy Law The Wall Street Journal – Bloc Promises to Push Switzerland, Four Other Countries Into Signing Similar Deal TweetShare
Links Mar 20
Havens set deadline for reporting investors’ tax details Financial Times (paywall) The British Virgin Islands, Liechtenstein and Jersey are among 44 countries that have set a deadline of September 2017 for reporting investors’ tax details to their home governments, under pioneer plans aimed at leaving “no hiding place for tax evasion” TweetShare
Links Mar 19
US Virgin Islands Lures Businesses With Tax Breaks International Business Times “These generous tax breaks don’t render the Virgin Islands a corporate or offshore tax haven, like such well-known rivals as Bermuda or the Cayman Islands … That’s because the Virgin Islands’ tax benefits are legally sanctioned by the U.S. government, unlike regimes at overseas havens under pressure from a
Read the full article…Links Mar 18
‘Yanukovych Leaks’ documents abuse of office DeutscheWelle Presidential residence owned by an Austrian company, which in turn was owned by a British firm, that was controlled by a trust in Liechtenstein. ‘ “If Yanukovych had run his country’s affairs like he did his private life in Mezhyhirya, we would be a rich country.” Ukrainian journalist Anna Babinez said jokingly.’ See
Read the full article…Links Mar 14
Money laundering: Own up, owners The Economist Insight into the status and potential of beneficial ownership transparency, following this week’s European Parliament vote “to back open registers for companies, trusts, foundations and practically any other corporate vehicle or legal arrangement that is deemed to be open to abuse”, examining why “for trusts, this would mark a sea change in disclosure”.
Read the full article…Links Mar 11
European Parliament gives overwhelming ‘yes’ vote to end secret corporate ownership Eurodad See also: MEPs vote for public registers on company ownership European Voice – But, UK Prime Minister does not want the rules applied to trusts TweetShare
Links Mar 7
Swiss parliament relaxes terms for tax data exchange swissinfo “Parliament has approved a legal amendment that tax evaders will not always have to be told if Switzerland sends information about them to other countries.” But to what extent is this just lip-service? How do trusts, foundations and shell company structures factor in? See also: Credit Suisse U.S. Clients in Limbo
Read the full article…Links Mar 6
IMF Launches International Public Consultation Taxation International News& Information “The IMF is looking into how the tax policies of different countries can potentially interact to unintentionally facilitate tax evasion, aggressive tax planning, and excessive profit shifting.” TweetShare
Links Mar 4
Black money: Switzerland refuses to share information on bank account holders, Delhi mulls strong response The Economic Times India, US to intensify cooperation in tax evasion cases The Economic Times TweetShare
Links Feb 28
Kenya: Tax Holidays Abused, Says NGO allAfrica Why Isn’t Africa’s Economic Growth Benefiting The Poor? Atlanta BlackStar TweetShare
Links Feb 24
G20 Committed To ‘Global Response’ To BEPS Tax-News See also: G20 Agrees on Automatic Tax Data Sharing, OECD Says Bloomberg, and Multinationals unfazed by G20 tax crackdown The Conversation TweetShare
Links Feb 21
Members of the European Parliament take their first step to curb corporate secrecy and phantom firms Eurodad See also: MEPs vote to name trust beneficiaries in public registries STEP TweetShare
Links Feb 20
What Russian money sloshing back to Cyprus teaches us about tax havens Quartz “Building a financial system to serve foreign clients first doesn’t necessarily improve a country’s fiscal condition, as fiscal collapses in places like the Caymans have shown before.” See also this months Taxcast featuring the Bahamas. TweetShare
Links Feb 18
Tax evasion controversy shifts east swissinfo See also our blog on the failed Swiss “Rubik” deals. TweetShare
