Tax avoidance fuels global inequality CNN Opinion piece by Joseph Stiglitz. Tax reforms are small beer when big firms are denying poor countries billions The Guardian See also our recent press release: OECD’s BEPS proposals will not be the end of tax avoidance by multinationals India: … [Read more...]
Inequality & Democracy
Finance Uncovered: how Africa’s biggest cell phone firm shifts billions offshore
From Finance Uncovered, a TJN-founded project, a press release about a story that is (among other things) front page of South Africa's influential Mail & Guardian newspaper. Finance Uncovered reveals how Africa’s biggest cell phone firm shifts billions offshore The Finance Uncovered global … [Read more...]
Links Oct 8
Why India should defend this whistleblower from the Swiss justice system Scroll.in "Hervé Falciani, who exposed the global offshore industry with the HSBC data leak, is facing prosecution under skewed Swiss laws for data theft and espionage." See also: Guest blog: how Switzerland corrupted its … [Read more...]
On tax credits, economic misunderstandings and the poor
The UK economics writer Chris Dillow has an excellent post making some basic points about tax credits, following a recent speech by the UK's finance minister (or "Chancellor") George Osborne, where he says: "We simply can’t subsidise incomes with ever-higher welfare and tax credit bills the … [Read more...]
Links Oct 7
Dirty Money UK BBC Radio 4 More taxes will help fight inequality: economist BusinessTech Piketty "promotes wealth redistribution as key to development". See also Piketty's address to the 2015 Nelson Mandela Annual Lecture EU agrees greater transparency on tax deals after LuxLeaks scandal … [Read more...]
Links Oct 6
Turkey: AKP should see taxation as a tool for development, not punishment Hurriyet Interview with Leyla Ate?, a member of the BEPS Monitoring Group (BMG) The Rise of Europe’s Unlikeliest Tax Haven Ozy Cites TJN'S Nicholas Shaxson, author of Treasure Islands: Tax Havens and the Men who Stole … [Read more...]
World Bank president: corporate tax dodging ‘a form of corruption’
From a speech by World Bank President Jim Yong Kim: "Some companies use elaborate strategies to not pay taxes in countries in which they work, a form of corruption that hurts the poor." That is a powerful statement from a powerful individual. This is indeed something that we've been arguing … [Read more...]
Christian Aid: new Swissleaks analysis shows harm to developing countries
An important new analysis from Christian Aid. Note the pull-out quote highlighting the problems with the OECD's Common Reporting Standard, or CRS. September 30 2015 NEW SWISSLEAKS ANALYSIS REVEALS HOW TAX HAVEN SECRECY HARMS DEVELOPING COUNTRIES New, detailed examination of the SwissLeaks files … [Read more...]
Switzerland: still the home of secret banking
There's been a lot of press about Swiss banking secrecy being finished, because of certain improvements that have been made. We periodically issue reminders that this ain't so, for many reasons. Just for instance: Swiss Banking Secrecy laws, in the spirit of the famous 1934 Swiss Banking Secrecy … [Read more...]
Links Sep 24
Why dirty money still plagues Switzerland swissinfo “The problems arise only from the moment the PEP becomes a persona non grata in the eyes of the Swiss government or other international organisations.” Why the German tax authority is protecting Apple Zeit (In German) By TJN's Markus … [Read more...]
Links Sep 23
Finance ministers call for minimum EU tax rate Politico Australia: Tax office did not go to police over fears wealthy would be kidnapped – inquiry The Guardian See also: Do you want Australia's megarich to be kidnapped? Do you? Then let them hide their tax First Dog on the Moon via The … [Read more...]
Links Sep 21
Singapore Urges Need For Tax Competition After BEPS Tax-News But tax competition, or rather tax wars, are harmful, see the Fools' Gold blog on What is (tax) competitiveness? Hunt for Tax Cheats Leads U.S. Government to Banks in Belize Bloomberg Apple Inc., Amazon See Mounting Tax … [Read more...]
OECD: too much finance hurts growth — more on latest paper supporting Finance Curse thesis
From The Guardian: "Countries with bigger banking sectors suffer weaker growth and worse inequality, according to a report from the Organisation for Economic Co-operation and Development (OECD). After analysing 50 years of data across its 34 member-countries, economists at the Paris-based … [Read more...]
Links Sep 17
Bank lobby decries regulation “overload” swissinfo 'The Swiss Bankers Association has waded into the ongoing anti-tax evasion political debate' U.S. tax-evasion probe expands to Belize USA Today See also: IRS Hunts Belize Accounts, Issues John Doe Summons To Citibank, Band of America … [Read more...]
C20: new civil society policy paper on tax justice
Adapted from the Global Alliance for Tax Justice. Organisations from 91 countries from around the world, representing close to 500 civil society organisations and almost 5,000 individuals, have been working together for the last 18 months via the Civil 20 (C20) to engage with G20 governments on … [Read more...]
