Financial Transparency Coalition Newsletter January - March 2016 Credit Suisse, the Jailed Banker and an Oligarch's Millions Bloomberg Swiss Banks Land in Middle of Money-Laundering Probe -- Again Bloomberg "U.S. said to seek banking records in widening Venezuela probe" OECD warns that … [Read more...]
Finance Sector
Links Mar 23
How Much International Tax Evasion is There? naked capitalism $181 billion Indian black money in tax havens? The Times of India Head of joint OECD/UNDP Tax Inspectors Without Borders initiative appointed – James Karanja, of the Kenya Revenue Authority OECD For background, read our August … [Read more...]
Links Mar 21
HSBC’s Money Laundering Nightmare (2): Mossack Fonseca, a Year in Words and Pictures, March 2015-March 2016 naked capitalism Story involves Panama, Brazil, Moldova, Malta, New Zealand, Azerbaijan, Germany, Luxembourg, USA, Hong Kong ... Global tax enforcement puts Cayman in the crosshairs The … [Read more...]
Switzerland rejects request from Argentina on leaked HSBC accounts
From Argentina's La Nacion newspaper: "Switzerland has denied the Argentine judicial authorities information about 4,000 or so Argentine-owned bank accounts in Switzerland, saying that Argentina's request had no solid foundation." This concerns data revealed by an HSBC whistleblower, Hervé … [Read more...]
Following the Money: French Banks’ Activities in Tax Havens
Update: the English version is coming soon; the French version is here. The following press release is published by Oxfam France; CCFD-Terre Solidaire; and Secours Catholique-Caritas. The accompanying study uses the first fully available public Country-by-Country reporting data from French banks … [Read more...]
KPMG: are they really masters of the universe?
A guest blog by Atul Shah of Suffolk Business School. Also published at Tax Research. Are KPMG really masters of the universe? The growing size and influence of Big 4 global accounting firms, and their supermarket of business consulting and advisory services, is generating alarm among scholars … [Read more...]
Oxfam report: Ending the Era of Tax Havens
Back in June 2000, three years before TJN's birth and at a time when nobody was talking about the issues, the charity Oxfam published a seminal document entitled Tax Havens: Releasing the hidden billions for poverty eradication. It was an important part of global tax justice history. We're … [Read more...]
Links Mar 9
You're A Rich Tax Dodger? No Problem, Says Canada Revenue Authority Canadians for Tax Fairness See also: Critics want public hearings into Canada Revenue amnesty for KPMG offshore tax dodgers CBC US and EU clash over tax practice clampdown The Irish Times "Washington urges Brussels to … [Read more...]
Links Mar 8
Time To Kill Corporate Tax? Tax-News See also our report Ten Reasons to Defend the Corporate Income Tax ECOFIN agreement a missed chance, campaigners say Financial Transparency Coalition E.U. Ministers Agree to Share Tax Details on Multinationals The New York Times See also: European … [Read more...]
Links Mar 4
AEoI as the new global standard: OECD Standard and EU Tax Cooperation, Keynote presentation at 2nd Turkish-German Biennial on International Tax Law, by TJN's Markus Meinzer, Istanbul Switzerland's Financial Secrecy Brought Under Human Rights Spotlight Center for Economic and Social … [Read more...]
UN asks IMF, World Bank, to study illicit financial flows
Highlighting a powerful new(ish) study: the final report on illicit financial flows and human rights of the UN Independent Expert, Juan Pablo Bohoslavsky. It’s well worth reading the whole thing, but here are some of the top lines and just a few of the many important recommendations: Illicit … [Read more...]
Links Mar 1
Withdrawal Symptoms: Why tax cuts aren't the best way to incentivise work The Equality Trust Global elite continues to make billions from rigged economic system, Forbes rich list shows Oxfam America How curious $3.3 million tax holiday to Shell, Total, Eni, is killing Nigerians – Report … [Read more...]
Links Feb 29
Tackle Tax Evasion to Fuel Africa's Development allAfrica / The Point (Banjul) Bangladesh: MNCs abuse relaxed taxation to deprive government of crucial revenue Dhaka Tribune India To Introduce Patent Box Regime, Country-by-Country Reporting Tax-News Pakistan: Government can negotiate with … [Read more...]
Links Feb 26
We're letting oil, gas and minerals firms off far too lightly on tax The Guardian See also: EITI: Just a whitewash mechanism for extractive companies? (in Spanish) TJN Latin America & Caribbean Questions on Panama company and New Zealand trust set-up for Malta's energy minister Malta … [Read more...]
Offshore Ireland implicated in bank collapse, once again
Update: now on Naked Capitalism (and note the comments underneath.) Update 2, March 1: now with added video at the end: a Live Register report on the IFSC, from 2012. We have written a great deal about the role of Ireland and the Irish Financial Services Centre (IFSC) and its role as an … [Read more...]
