World unites to decry prosecution of source behind LuxLeaks tax scandal The Guardian See also the open letter to Luxembourg prosecutors: LuxLeaks tax source should not be charged LuxLeaks: An opportunity? euobserver Poorer Countries Lose More from Corporate Profit-Shifting The Center for … [Read more...]
Finance Sector
Links Dec 19
Capital flight: CEFID-AR publishes "The enablers and their ways of working" via Red de Justicia Fiscal de América Latina y el Caribe (In Spanish) Hat tip: Jorge Gaggero Editorial: Stem Capital Flight The Himalayan Times Widening of EU tax probe takes heat off Ireland Irish Examiner … [Read more...]
Links Dec 18
EU cracks down on anonymous company ownership, but falls short of full transparency Global Witness UK: Criminal penalty omitted from tax evasion clampdown Financial Times (paywall) Canada: New anti-corruption measure for oil, gas and mining companies passes into law amidst cautions from civil … [Read more...]
On the Capture of Luxembourg by Big Accountancy Firms
UPDATE: TJN is among a host of signatories to a letter (published here) calling on the Luxembourg authorities to refrain from prosecuting whistleblower Antoine Deltour. In the letter we note that even the Luxembourg government has publicly recognised that the information revealed by M Deltour has … [Read more...]
Links Dec 17
The unlearned lesson of LuxLeaks EU Observer #Luxleaks: The Reality of Tax ‘Competition’ Center for Global Development See also recent blog On so-called “tax competition” States keen to protect identity of Europe's shadow rich EU Observer See also earlier blog EU compromise on shell company … [Read more...]
British tax havens fight back against transparency moves
Just over a year ago the British Prime Minister David Cameron, whose family has had tax haven interests for many years, tried to whitewash Britain’s Overseas Territories and Crown Dependencies with a statement saying: “I do not think it is fair any longer to refer to any of the Overseas Territories … [Read more...]
Links Dec 15
Developing Countries Meet To Discuss BEPS Push Tax-News See also recent blog: On taxing multinationals: latest scorecard for the OECD BEPS project Some of the Rich Collect Art. Others Collect Passports. The New York Times More on economic residency... "Experts estimate that these “economic … [Read more...]
Links Dec 12
Corporate transparency: The openness revolution The Economist Kenya: Media, Civil Society Urged to Fight Unfair Tax allAfrica / The Sta Can Africa move away from aid to trade? Zambia Daily Mail Finance: Out of Control? Juncker fails to endorse public registers across EU revealing firms … [Read more...]
Event in London on the Domination of “The City”
The Domination of the City: Holding the City To Account. Tuesday, Dec 16th, 6.30-8.30 pm, Committee Room 16, House of Commons TJN has long argued that the scale and power of the City of London has induced a Finance Curse which afflicts the rest of the UK. In the coming session of the … [Read more...]
Links Dec 11
Trial Delayed as Ex-Banker Charged in Swiss Secrecy Case Collapses The Wall Street Journal Moneybeat See also Ex-HSBC Employee Falciani Said Indicted on Data Theft Bloomberg, and earlier blog Tax haven whistleblowers: where are the human rights organisations? UK territories unite against public … [Read more...]
Links Dec 10
Former Swiss Banker Collapses During WikiLeaks Data Trial Bloomberg "Elmer, 59, is accused of violating the country’s financial secrecy laws in a campaign to raise awareness of the use of Swiss bank accounts for illegal activity including tax evasion", and recent blog Show trial of Swiss … [Read more...]
Luxembourg Leaks 2: Koch Industries, Disney, Skype edition
So the next round of Luxleaks is with us. Corporate tax avoidance, as the chair of the UK's Public Accounts Committee put it, "on an industrial scale." We post an array of stories below, and will write more about this in due course. As it happens, Luxembourg is likely getting it in the neck … [Read more...]
Links Dec 9
Preventing tax evasion and fraud: the scope for automatic exchange of information is extended: Council of the European Union Directive on Administrative Cooperation has been approved by the EU Council. For background see here. Australia: Tax advocates rally behind disclosure rules The Age See … [Read more...]
Links Dec 8
Corporate tax cuts don’t work Chatham House, The Royal Institute of International Affairs ICIJ calls for immediate release of arrested Azeri reporter Khadija Ismayilova #FreeKhadija See also: Prominent Azerbaijani Journalist Sent To Two-Month Pretrial Detention Radio Free Europe, and recent … [Read more...]
Links Dec 5
EU parliament studies tax avoidance in member states Luxemburger Wort See also: Pro-Juncker coalition blocks committee of inquiry on Luxleaks EurActiv, and Juncker’s Sound of Silence Project Syndicate Malta should brace itself for tax haven clampdown Malta Today India must show valid proof … [Read more...]
