Links June 3
Jun 2 - Khadija Sharife presents the story of tax dodging by Glencore/Mopani and other multinationals, underscoring how tax havens play a considerable role in Africa, and observes, "after this considerable charity has been provided to the world's richest companies, the question remains: who will help the Zambians?"
Madhouse economics with lunatics in charge - Where has all the wealth of this country actually gone? Tribune Magazine
Jun 3 - Prem Sikka writes on how Britain’s economic landscape is blighted by economic misery and social exclusion, and the impact and implications of tax policy.
French prosecutor opens investigation into UBS Reuters
Jun 1 - The Paris prosecutor opened a preliminary investigation into the commercial practices of Swiss bank UBS at the end of February ... The investigation was launched after bank regulator the ACP received an anonymous letter describing the methods UBS used to help customers avoid taxes.
HM Revenue and Customs (HMRC) Consults On Tax Avoidance Schemes Tax-News.com
Jun 2 - The UK's crack down on tax avoidance continues, to include a new consultation launched to tackle high risk tax avoidance schemes. The government will be handed the power to list, in regulations, marketed tax avoidance schemes. Those who continue to use them will then be required to disclose this to HMRC, and be subject to an additional charge when the tax underpaid is eventually handed over.
The 'almost Dalí' trade Guardian
Jun 2 - "The market for sculptures by Spain's most famous surrealist is booming. But buyers should beware – their link to the artist is often unclear." A Guardian investigation has revealed "A variety of offshore entities promote the sculptures ... they include IAR Art Resources, a Cyprus-registered corporation; a foundation based in Liechtenstein; and a Swiss foundry."