Saturday, January 29, 2011

Links - Jan 29

Hey Davos! What about the tax havens? Channel 4
Jan 28 - Jon Snow, a respected UK journalist, writing from the World Economic Forum in Davos. Calls out governments on tax haven injustice. The piece also points to a Financial Times Article highlighting tax havenry committed by IKEA, exposed through an investigation by Swedish journalists. Has Snow read Treasure Islands? The fullest ever account of this story is there.

Probe reveals Ikea tax structure - FT
Fresh details of the complex web of foundations and companies behind the global Ikea flat-pack furniture empire, including some based in tax havens, have been revealed by a Swedish media investigation.

Swiss ex-banker lodges appeal against custody-lawyer - Reuters
Jan 27 - Swiss ex-banker turned whistleblower Rudolph Elmer has appealed a court ruling remanding him in prison over possible breaches of Swiss banking secrecy, a lawyer representing Elmer said on Thursday.

UHM calls for information campaign against tax evasion Times of Malta
Jan 28 - In Malta, The Union Haddiema Maghqudin has appealed to the government for a tax evasion clampdown. The union referred to a recent Parliamentary question during which it was stated that just over 1,000 people declared an income of more than €75,000 a year. Intriguing - Malta ranks 12th on the Financial Secrecy Index

Austrian ex-finance minister admits tax evasion DPA
Jan 28 - Former Austrian finance minister under tax investigation for 3 million euros parked in Liechtenstein. Intriguing - Austria ranks 12th on the Financial Secrecy Index.

HSBC linked to tax evasion case Accountancy Age
Jan 28 - In the U.S., New Jersey prosecutors allege that five unnamed bankers from HSBC helped a tax evader open accounts in India from the British Virgin Islands, and move money from the US taxman's gaze.

India's 'black money': - 'hoodwinking' the people? BBC
Jan 28 - "It is a systemic problem. Those who don't pay taxes or stash away illicit money overseas comprise the political and professional creme de la creme - politicians, bureaucrats, businessmen, doctors, lawyers, chartered accountants, judges."

Corporation tax in UK as low as 8% to stop exodus of multinationals - Guardian
Nov 29 - This story was written a while ago, but it needs a reminder. It is potentially a massive shift and a gift to multinational corporations, as Britain dives ever deeper into offshore status. We hope to get to it in detail soon.


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