Links Oct 13
Oct 11 - A reporter visits Jersey, with some interesting investigations, following ActionAid's report revealing that all but two of the top 100 hundred firms on the London Stock Exchange use tax havens. The news report features Chris Jordan (ActionAid) and John Christensen (TJN's Director), and the debate features Nicholas Shaxson (TJN, and Author of Treasure Islands).
IRS Auditing How Google Shifted Profits Offshore to Avoid Taxes Bloomberg Businessweek
Oct 13 - Jesse Drucker reports on the U.S. Internal Revenue Service auditing Google , which "has cut its worldwide tax bill by about $1 billion a year using a pair of strategies called the “Double Irish” and “Dutch Sandwich,” which move profits through units in Ireland, the Netherlands and Bermuda."
US accuses 2 ex-Baer bankers of aiding tax evasion Reuters
Oct 11 - "U.S. prosecutors on Tuesday indicted two former private bankers with Julius Baer on charges of selling tax evasion services to wealthy Americans, drawing yet another Swiss bank into the crosshairs of the U.S. Justice Department amid a widening crackdown on offshore tax evasion."
Uganda MPs block oil deals after corruption claims BBC
Oct 12 - "Uganda's parliament has voted to suspend all new deals in the oil sector following claims that government ministers took multi-million dollar bribes." Hat tip: Koos de Bruijn
Advani says yatra will focus on black money, launches theme song The Times of India
Oct 10 - BJP leader LK Advani has launched a "peppy" theme song for a 38-day road show which will criss-cross the country. "Though I will raise the issue of rampant corruption, price rise and extreme poverty that exists in the country during my Jan Chetna Yatra, the issue of black money stashed away in tax havens abroad will figure most prominently,"
UK HMRC’s ‘cock-up’ and the spectre of secrecy Treasure Islands
Oct 12 - Nick Shaxson comments on a story reported in The Guardian: "Britain’s tax authorities have given Goldman Sachs an unusual and generous Christmas present, leaked documents reveal. In a secret London meeting last December with the head of Revenue, the wealthy Wall Street banking firm was forgiven £10m interest on a failed tax avoidance scheme."
The places and people who help Barclays ‘minimize’ its taxes Golem XIV
Oct 12 - A very interesting and insightful look into the shenanigans of the corporate tax evading world.
Liechtenstein Seeks Swiss-Style Tax Pact With Germany Bloomberg
Oct 12 - "Liechtenstein Prime Minister Klaus Tschuetscher said the principality will seek a withholding tax on undeclared German assets in its banks along the lines of a recently signed German-Swiss tax agreement."
Andorra to end long history as tax haven Reuters
Oct 11 - "The principality of Andorra, long out of reach for European and international tax authorities, announced on Monday that it would vote on legislation to introduce a range of taxes on people, products and corporations as early as 2012."
Buffett’s Son Defends Occupy Wall Street Bloomberg
Oct 13 - "Howard Buffett, the Berkshire Hathaway Inc. director and son of Chairman Warren Buffett, said Wall Street protesters were provoked by abuses from corporations amid a widening disparity between rich and poor."