From Prem Sikka, a quote from an article from June that provides essential context for those who would dismiss the explosive leaks and analysis from the International Consortium of Investigative Journalists (ICIJ) on Luxembourg. The Big Four accountancy firm PWC has been exposed as having … [Read more...]
Finance Sector
Huge trove of information blasts hole in Luxembourg’s theatre of probity
From the International Consortium of Investigative Journalists (ICIJ), a story we've been waiting for: "Capping a six-month investigation, the International Consortium of Investigative Journalists (ICIJ) and its media partners are publishing a secret cache of leaked tax documents and dozens of … [Read more...]
Links Nov 5
TJN-A and EATGN applaud Kenya government on decision to phase out tax incentives TJN-Africa See also our earlier blog Are Kenyan tax holidays over? Indian Government Loses Major Tax Case to Vodafone CorpWatch How black money finds its way out of India, and how it comes back as white The … [Read more...]
On the risk of listening to the promoters of tax schemes
From the UK's HM Revenue & Customs, via Tax Research, a UK-focused article that is relevant for all companies listening to the siren songs of the promoters of tax schemes: 10 things a tax avoidance scheme promoter won’t always tell you … [Read more...]
Financing for whose development? DFIs and their support for companies that use tax havens
This blog first appeared on From Poverty to Power. By Mathieu Vervynckt, Policy & Research Analyst with the European Network on Debt and Development (Eurodad) The Third UN Conference on Financing for Development (FfD), set to take place in Addis Ababa next year, will be a crucial … [Read more...]
Links Oct 31
Capital Flight IV. Argentina, 2014: Manipulation of "Transfer Pricing" CEFID-AR (In Spanish) Transfer pricing: arms length alternatives needed European CEO See our page on Transfer Pricing here. Trial of former UBS executive dredges up Swiss banks' shady past Reuters … [Read more...]
Links Oct 30
Cartoon of the day Alex / The Telegraph More Than 50 Countries Sign Tax Deal The Wall Street Journal See also: Automatic Info Exchange Moves A Step Closer Tax-News, Why Taxation Must Go Global Project Syndicate, Fifty-one countries sign OECD pact to tackle tax cheats Reuters, and our blog and … [Read more...]
Links Oct 29
IMF calls for Caribbean tax changes Public Finance International IMF says tax competition (or "tax wars"), & tax incentives, are harmful. For the full speech by Min Zhu, Deputy Managing Director, IMF "Unlocking Economic Growth" see report by Eurasia Review here. Africa Must Better Target … [Read more...]
Links Oct 28
India: List of Black Money holders in Swiss Bank accounts leaked by WikiLeaks? India.com India: Black money disclosures may prove costly for banks Business Standard 'Differences with India on making public Swiss bank account information' The Economic Times 73 Of 100 Swiss Banks In Bed … [Read more...]
Links Oct 24
Australia: Tax office blitz chases billions The West Australian See also: Australians confess to stashing $1b in assets offshore The Sydney Morning Herald The transfer pricing conflict is about profit shifting Daily Maverick Swiss banks trying to distance themselves from Indian clients … [Read more...]
Links Oct 23
UNECA Ninth African Development Forum - “Innovative financing for Africa’s transformation” - ADF-IX Consensus Statement Marrakech, October 2014 Facebook’s £3,169 UK corporate tax bill in 2013 was less than a zone 1-9 yearly London travelcard City AM ... or almost half that of the average … [Read more...]
Links Oct 22
Will new suit spoil party for blue chip companies registered in Mauritius Standard Media See also recent blog: TJN Africa takes Kenya government to court over Mauritius treaty Swiss Banks on Own in Navigating U.S. Offshore-Account Requirements The Wall Street Journal "Swiss Government Provides … [Read more...]
Links Oct 21
Tax Avoidance report: The case of the Peru gold mine Yanacocha LatinDADD The Reckoning For Swiss Banks Is Far From Over Business Insider / The Economist … [Read more...]
Occupy protest highlights role of British tax havens
A plucky group of Occupy activists are legally occupying Parliament Square in London, but face surprising levels of harassment by British police. Here is a short video about the occupation, in which the protesters highlight the flags of British tax havens flying across the street from Parliament - … [Read more...]
Links Oct 20
South Africa: Lonmin’s failed gag bid puts spotlight on transfer pricing Business Day Live See the report The Bermuda connection: Profit shifting and unaffordability at Lonmin1999-?2012 by the Alternative Information and Development Centre (AIDC). See also: The Last Word: Avoid Lonmin like the … [Read more...]
