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...]
Race to the Bottom
Are Kenyan tax holidays over?
Here's a headline (see picture) that should send ripples across the whole of Africa. Kenya's Business Daily reports that the Kenyan government is considering plans to withdraw tax exemptions granted to foreign investors, including ten year tax holidays on corporate profits and ten year withholding … [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...]
2015 Research Workshop: Call for Papers – Should Nation States ‘Compete’?
Call for papers for a Research Workshop SHOULD NATION STATES ‘COMPETE’? … [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...]
The myth of competitiveness: how to build a fairer city
In recent years we've been talking a lot about 'competitiveness' from the perspective of whole nation states. There's a whole lot of nonsense that's talked on this subject, and a whole lot of unnecessary damage caused to economies in the name of 'competitiveness. Our blog about Bono and Ireland a … [Read more...]
Links Oct 17
Ten drivers of inequality in Africa Oxfam How tax inspectors could prevent the next Ebola outbreak The Conversation See also recent blog Tax Inspectors Without Borders – an update Argentina: Courts could dismiss Swiss bank data Buenos Aires Herald Swiss-Indian tax negotiations yield … [Read more...]
Links Oct 16
Financing for development: What actions are needed on debt and illicit capital flows? Bretton Woods Project Debt and Development Coalition Ireland says government playing musical chairs on corporate tax and government failed to tackle bank debt See also: Ireland ends one era of abuse – and … [Read more...]
Quote of the day: City of London and financial fraud
One of a long line of "quotes of the day: this one from 2013, but still relevant today The “race to the weakest supervisor” did not occur only within the U.S. Brooksley Born and a former senior SEC official have confirmed to me that UK regulators directly pitched U.S. financial firms to relocate … [Read more...]
Bono: Tax Haven Salesman for the Celtic Paper Tiger
We've been (almost) biting our TJN tongues on Mr. Bono's latest outburst since the weekend. We were waiting for this to come out. Cross-posted from Naked Capitalism, with permission. We've tweaked a couple of words here and there. Bono: Tax Haven Salesman for the Celtic Paper Tiger By Nicholas … [Read more...]
Links Oct 10
Kenya: Lobby sues Treasury CS over 'illegal' tax deal with Mauritius Business Standard Lawsuit filed by Tax Justice Network - Africa ActionAid Asks European Investment Bank to Publish Report on Mopani Tax Evasion Zambia Reports Joint press release circulated by organisations ActionAid Zambia, … [Read more...]
