Tuesday, September 06, 2011

Links Sep 6

Taxation of multinationals begins, at last, with transparency! Le Monde (In French)
Sep 6 - Op-ed by Oxfam France, calling for country-by-country reporting in reaction to a French and German announcement about corporate income tax convergence between the two countries in 2013.

Trade Based Money Laundering - A Shady Side of Globalisation allAfrica
Sep 5 - On abusive transfer pricing transactions through tax havens by multinational enterprises operating in Africa.

Commission to scrutinise UK-Swiss tax deal European Voice

Aug 26 - The European Commission is to examine the UK-Swiss deal . We hope this proves to be constructive.

See also:
Swiss agreement: the international ramifications Accountancy Age
Sep 1 - The article provides new details on the UK-Swiss deal, and suggests legal challenge is possible.

And see:
Enjoy your chance to investigate Swiss tax criminals whilst it last HMRC - because Hartnett's signed away the right to do so in the future Tax Research UK

Sep 5 - "The taxman is investigating the affairs of around 800 wealthy British HSBC clients who held money in Swiss bank accounts ... HM Revenue & Customs (HMRC) could raise hundreds of millions of pounds from the probes" - Richard Murphy points out how the UK-Swiss deal will put a stop to the chance of tax evaders being brought to justice.

Too many tax haven firms winning government contracts Tax Research UK
Sep 5 - More than half of the private companies winning Government contracts have subsidiaries in tax havens, according to a report by Ethical Consumer magazine.

On the trail left by the flight pagina12 (In Spanish)
Sep 6 - Argentina is to sign a tax information exchange agreement with Cayman on Oct 13. Recent investigations identified more than one hundred Argentine firms using Cayman to hide treasury operations and dodge taxes. The piece cites TJN on the issue of ineffective bilateral agreements, and how automatic information exchange is the way to go. Hat tip Markus Meinzer.

Sometimes It’s Easy: US Uncut Exposes Rush Limbaugh with One Simple Question AlterNet
Sep 5 - "Carl Gibson, one of the founders of US Uncut, just steamrolled the drugged one. It was a thing of beauty" - asking how Limbaugh feels about corporations that don't pay taxes.

Why rich Britons are not volunteering to pay more tax The Economist
Sep 1 - Following calls from wealthy people in other countries for fairer tax, "In contrast, a deep, velvet-and-mahogany silence envelops the British plutocracy."

Advice to budding UK entrepreneurs Wired
Sep 5 - Interesting to see this quote from a private equity firm chairman: "All broadcasters and publishers are suffering from the fact that Google is looting the UK out of £3-4bn of advertising revenue on which they probably make around 90 percent margins on which they pay 2.4 percent tax," he says referring to Google's moving most of its international profits through Ireland and the Netherlands to Bermuda." Hat tip anonymous.


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