From Euractiv, a statement that would have been unthinkable even just a couple of years ago: "Publishing turnover, staff numbers, taxes paid and subsidies received in every country banks operate in, could boost competitiveness, increase lending and bolster financial stability, the independent … [Read more...]
Country by Country
BEPS – minor victories but we risk losing the war
The following are detailed thoughts on the OECD BEPS year one outcomes prepared by friends and colleagues at Eurodad (the European Network on Debt and Development). … [Read more...]
No Role for Public Scrutiny in OECD Plan to Curb Corporate Tax Dodging
From the Financial Transparency Coalition, of which TJN is an active member: No Role for Public Scrutiny in OECD Plan to Curb Corporate Tax Dodging For Immediate Release September 16, 2014 WASHINGTON, D.C. — The Organization for Economic Cooperation and Development’s (OECD) new … [Read more...]
Country by country reporting: here it comes
From Tax Research, reposted in full, with a few key links added: The era of country-by-country reporting is arriving The OECD has announced its 2014 outcomes from the Base Erosion and Profits Shifting process this afternoon. As far as I am concerned the key issue is country-by-country … [Read more...]
Public pressure works: new report
We've been emailed a paper entitled Public Pressure and Corporate Tax Behavior, Scott D. Dyreng of the Fuqua School of Business Duke University; Jeffrey L. Hoopes of Fisher College of Business Ohio State University; and Jaron H. Wilde, of Tippie College of Business University of Iowa. The … [Read more...]
The Offshore Wrapper: A week in tax justice
Going down? Egypt’s richest family Egypt’s highest profile tax case has taken a bizarre turn this week. The story starts in 2007 when Orascom Construction Industries sold their cement business to the French giant Lafarge. … [Read more...]
Barclays sheds some light on its financial affairs, country by country
Richard Murphy, who pioneered the concept of Country by Country reporting, has produced an important analysis of the data revealed in one of the first such published reports, from UK-based Barclays bank. Among many other things, he says: "This analysis suggests that Barclays is massively … [Read more...]
Press Release: European Commission hires transparency opponent to assess corporate transparency
TJN is a signatory to the following letter, and this press release: Press Release: CSOs protest as European Commission hires opponent of corporate transparency to assess corporate transparency After strongly opposing any publication of data from corporate country by country reporting, … [Read more...]
The Swiss commodity black hole: a bizarre new government proposal
From the Berne Declaration and Swissaid: "The Federal Council today announced its wish to close the Swiss gaps in transparency for the global commodity industry. But the entire commodities trading business may well be excluded from any future regulation." … [Read more...]
CTJ: U.S. Fortune 500 companies likely escaping $550bn in tax
From Citizens for Tax Justice: "American Fortune 500 corporations are likely saving about $550 billion by holding nearly $2 trillion of “permanently reinvested” profits offshore. Twenty-eight of these corporations reveal that they have paid an income tax rate of 10 percent or less to the … [Read more...]
Norway pledges to introduce public registry on company ownership
We are happy to report on some good news sent to us by Sigrid Klæboe Jacobsen, Director of Tax Justice Network - Norway. "Today, the Norwegian government today has pledged to introduce a "publicly available, digital registry for information on shareholders of companies". The Norwegian government … [Read more...]
Report: the black hole at the heart of London’s FTSE100
From Christian Aid, a press release: "The secrecy surrounding thousands of subsidiaries created in tax havens by leading UK companies has created a black hole at the heart of the FTSE100, a new Christian Aid report warns today. … [Read more...]
PWC survey: most CEOs back country by country reporting
From Reuters: "Most chief executives globally would support the publication of country-by-country financial information to help stamp out corporate tax avoidance, a survey showed on Wednesday. … [Read more...]
Tax Justice Focus 2014 – the COUNTRY-BY-COUNTRY REPORTING edition
This edition of Tax Justice Focus is guest edited by Richard Murphy, the originator of the idea of country-by-country reporting. A little more than a decade after he first began to develop the concept, Murphy has brought together authors from the Organisation for Economic Co-operation and … [Read more...]
UK government believes in country by country reporting. Or does it?
From an exchange in the UK parliament, via Tax Research, the UK Exchequer Secretary David Gauke: "A year or so ago I had a meeting at Euston tower with the HMRC [the UK tax authorities] officials who deal with transfer pricing matters. They said it would help them to have a relatively simple form … [Read more...]
