Links Apr 18 Part II
Apr 18 - Nick Shaxson in a guerrilla book signing at the Verizon store in Union Station in Washington, D.C. Organized by U.S. Uncut. It came off wonderfully. Take a look.
The Double Irish and the Dutch Sandwich Slate
Apr 14 - Also the Killer B, the Deadly D, and the Outbound F. The Explainer's guide to exotic tax dodges.
Loophole-ridden tax treaty passes Panama's assembly Public Citizen
Apr 14 - Our friends at Public Citizen on the Tax information Exchange Agreement (TIEA) just ratified between the US and Panama. "Given Panama’s longstanding public policy of encouraging tax-haven activities, this loophole is big enough to keep its offshore economy alive and kicking." See also article in The Hill Apr 14. Hat tip Todd Tucker.
Glencore denies allegations over copper mine tax Guardian
Apr 17 - Further news on this story linked previously. Our friends at ActionAid estimate that the company's tax dodging potentially cost the Zambian government up to £76m a year - significantly more than the £59m the UK government gives Zambia each year in aid. The Zambian government has declined to investigate Mopani's tax affairs despite calls from development charities.
Swiss bank pays $73million to dodge German tax case Forbes
Apr 14 - Swiss private bank Julius Baer AG says it has paid Euro50 million ($72.5 million) to avoid prosecution as part of a deal with German tax authorities. Fig-leafism. See Richard Murphy on Laughing all the way to the Swiss bank.
Now why would Barclays want to offer this? Tax Research UK
Apr 15 - Richard Murphy draws attention to this feature from Shelter Offshore, on "A brand new, highly attractive, flexible and potentially tax-free offshore company and bank account package is available in the UAE...". A blatant advert for a way to dodge taxes and disclosure requirements, while providing the skimpiest of due-diligence / know-your-client info.
9 things the rich don't want you to know about taxes Willamete Week
Apr 13 - David Cay Johnston observes, "Tax policy is something the framers left to politics. And in politics, the facts often matter less than who has the biggest bullhorn". Some media-perpetuated tax myths explained. Hat tip The Cynical Tendency
Tax Shell Game: How Much Did OffShore Tax Havens Cost You In 2010? U.S PIRG
Apr 18 - A new report by our friends at thethe average U.S. tax filer of $434 - that’s enough money to feed a family of four for three weeksOn the power of the lobbying force, see Hat tip Nicole Tichon.
Yet again, a chance to rein in the bankers has been squandered Guardian
Apr 17 - On the power of the banking lobby in the UK, regarding the publication of Sir John Vickers's Independent Commission on Banking interim report. The article speaks of The City of London being "an over-mighty interest group enjoying privileged access to the inner councils of the state". For the history of this topic, read Treasure Islands.
America's Tax System Is Not as Progressive as You Think Citizens for Tax Justice
Apr 15 - Conservative lawmakers and pundits often claim that the richest Americans are paying a disproportionate share of taxes while a huge number of lower-income Americans pay nothing at all. Our friends at CTJ have updated their report on federal, state and local taxes that explains why they're wrong.