Monday, July 04, 2011

Links Jul 4

Our Glastonbury U2 protest was a call for an ethical tax culture The Guardian
Jun 28 - We blogged the U2 protest here . Phillip Goff of Art Uncut writes that 'The Bono Pay Up protest was about irresponsible tax behaviour undermining democracy, public services and global development', and on changing the tax dodging culture.

Australia tax office takes aim at foreign companies on tax avoidance The Economic Times

Jul 4 -' The Australian Tax Office, one of the world's most aggressive tax agencies, outlined profit-shifting and multinational borrowing among its targets for the year ahead in its annual compliance programme ... In relation to the Project Wickenby taskforce, the ATO says concealment is its main concern.' See here for more on Project Wickenby.

India: Heat on tax havens: FDI from Mauritius, Cyprus drops The Economic Times
Jul 4 - 'Amidst pressure on the government to tighten the screws on inflow of funds from tax havens , India's foreign direct investment from Mauritius and Cyprus dropped significantly in 2010-11.'

India: ICAI sets up expert group on black money to assist government Business Standard

Jul 4 - 'Accounting regulator ICAI has set up a group of experts to suggest the government ways to deal with the menace of black money and retrieve the illegal money stashed in tax havens and overseas banks ... Also, the Supreme Court today appointed a Special Investigation Team for a monitoring probe and steps being taken to bring back black money stashed away in foreign banks.'

Trouble in tax paradise swissinfo
Jun 29 -
See the video - 'In recent decades Zug has managed to attract numerous multinational companies thanks to its low tax policy. The downside of the economic growth is rapidly increasing rents, which make it hard for middle class families to find affordable homes.'

See also:
Switzerland: Rich set to pay more tax swissinfo

Jun 30 - 'Since the financial crisis, there has been a growing popular backlash in Switzerland against “fat cat” foreigners paying proportionally less tax than ordinary citizens who live and work in the country.'

Swiss in US angered by bank tactics swissinfo

Jul 3 - 'Swiss bank customers in the United States say they are being penalised following the tax evasion affair at UBS and the new banking regulations it gave rise to.'

U.S.: Avoiding taxes the way big corporations do it The Hill's Congress Blog

Jun 14 - An op-ed from a small businessman who is an accountant. The piece demystifies the offshoring game nicely. Hat tip Scott Klinger.

Business Leaders Say Corporate Tax Holiday No Win For America Business for Shared Prosperity

Jun 14 - On the repatriation issue, and a letter sent by a coalition of business organizations to the U.S. Congress. See the letter here.

See also:

Real patriots pay taxes The Cap Times
Jul 4 - Article by Holly Sklar, executive director, and Scott Klinger, director of tax policy at Business for Shared Prosperity. 'There is no excuse for repeating a policy that’s a proven failure.'

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