About Tax Justice Network
Why many Berlin real estate owners remain secret despite new transparency laws
Cayman Islands, a place of registration for several Berlin companies indirectly owning German real estate. Photo: Michael Klein Guest blog by Christoph Trautvetter, Netzwerk Steuergerechtigkeit For anyone who cares about beneficial ownership transparency the spotlight should be on the EU – where public beneficial ownership registers became mandatory in 2020 – and Germany, which is struggling with the issue of
Read the full article…UK u-turns on commitment to tax transparency, giving up £10 billion in corporate tax
The Tax Justice Network has raised the alarm on the UK’s regression into tax havenry The UK missed out on collecting £2.5 billion a year in corporate tax from multinational corporations due to the UK government failing to exercise a 2016 tax transparency law designed to prevent billions in corporate tax abuse1. Asked whether Chancellor Rishi Sunak plans to exercise
Read the full article…EU loses over $27 billion in corporate tax a year to UK, Switzerland, Luxembourg and Netherlands
“Axis of tax avoidance” cost EU 12 times budget of ERC, Europe’s Nobel prizes winning science body EU member states are losing over $17 billion in corporate tax a year from US firms abusing the law to shift their profits into the UK, Switzerland and Luxembourg, where corporate tax rates in practice range from 10 per cent to 0.8 per
Read the full article…Fiança ou resgate? Especialistas da Tax Justice Network elaboraram teste em cinco etapas para governos aplicarem antes de resgatar empresas diante da #Covid-19
This is a Portuguese translation of the Tax Justice Network’s proposal of a 5-step test for coronavirus bailouts. A Spanish translation is available here (external website). Dinamarca, Polônia, França, Argentina já anunciaram e outros países europeus estão estudando não auxiliar empresas que registradas em paraísos fiscais. Essa medida vai numa excelente direção, mas pode ser melhorada em alguns aspectos. O
Read the full article…Revealed: Netherlands, blocking EU’s Covid19 recovery plan, has cost EU countries $10bn in lost corporate tax a year
Italy, Spain among biggest losers of corporate tax to Netherlands, analysis of billions in tax abuse reveals EU countries locked in negotiations over a recovery plan to help member states hit hardest by the Covid-19 pandemic have been revealed to be losing over $10 billion in corporate tax a year to the Netherlands. New analysis shows that the EU countries
Read the full article…Corporate financial resilience in times of COVID-19: a perfect storm?
Guest blog by Professor Colin Haslam, Queen Mary University of London In our working paper Safeguarding financial resilience for sustainability’ we argue that large companies listed on the European and the US stock exchanges have become financialised, leaving many with weak, financially exposed balance sheets and higher risk of insolvency. As the Covid-19 crisis hits, we are on the verge
Read the full article…Financial Secrecy Index 2020 reports progress on global transparency – but backsliding from US, Cayman and UK prompts call for sanctions
US overtakes Switzerland in global ranking of financial secrecy hotbeds, Cayman leaps over both to top of the index The US has overtaken Switzerland in a global ranking of countries most complicit in helping individuals to hide their finances from the rule of law – but Cayman has leapfrogged both to rank as the worst offender. The Tax Justice Network’s
Read the full article…EU blacklists UK’s crown jewel tax haven while letting other tax havens off the hook
EU blacklist adds Cayman but addresses only 7% of global financial secrecy, while UK’s ‘Singapore on Thames’ threat looks increasingly self-defeating The EU will add British territory Cayman to a blacklist of non-cooperative jurisdictions on Tuesday, firing a shot across the City of London’s bow while leaving other major enablers of financial secrecy off the list. The EU’s updated list
Read the full article…ICRICT’s study of asset ownership information available in the UK: a stepping stone towards a Global Asset Registry
This blog was originally published by ICRICT on 19 December 2019. ICRICT is inviting comments on its new study. If you would like to send your comments, please do so no later than Thursday 31 January 2020 to icrictsecretariat@gmail.com. Wealth inequality poses serious risks to economies, to societies more broadly, and to the functioning of democracies. And yet the actual
Read the full article…Getting the short end of the stick again and again
Guest blog author: Cassandra Vet, Teaching Assistant and PhD Candidate, Global Governance and Inclusive Development, Institute of Development Policy, University of Antwerp Now the reform to curb corporate tax avoidance gets up to speed with the outdated principles of corporate taxation, it seems that developing countries are left with a disproportionately small share of these recaptured taxes. Previously, Martin Hearson
Read the full article…Seminar on the Corporate Tax Haven Index in Buenos Aires on 29 November 2019
[Por favor, vea más abajo detalles en castellano] The research and advocacy seminar is organised in the context of the conference “Financialization in the Global South” (list of panels here, time table here, register here), happening from 26-28 November 2019 also in Buenos Aires. This event is free to attend. Details and location can be found below. The seminar introduces
Read the full article…OECD reform weak on corporate tax havens, harsh on poorer countries
Hopes dashed as OECD’s reform plans expected to reduce profits booked in corporate tax havens by only 5 per cent Additional tax recovered from corporate tax havens will mainly benefit richest countries, while lower-middle income countries’ tax base is expected to shrink, analysis reveals Campaigners and economists call on OECD to release full data for scrutiny The OECD’s highly anticipated
Read the full article…Freeports: PM Johnson’s “free self storage” for the rich and powerful
The largest art collection in the world is currently collecting dust in Geneva Freeport, a fenced-off warehouse near Geneva airport, beyond the view of the public and outside the reach of law enforcement agencies and tax authorities. British PM Johnson has recently proposed establishing similar freeports in the UK, which he says will boost a post-Brexit economy despite plenty of
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