Links Apr 18
Apr 17 - Great piece linking tax dodging and the costs of climate change - "Cracking down on corporate tax dodgers is key to coming up with the funds to pay for essential domestic and international public needs, including assistance for developing countries to address climate change."
Cobalt’s and Goldman’s Angola connections Treasure Islands
Apr 18 - Nick Shaxson was the Reuters correspondent in Angola from 1993-1995, and comments here on the challenges faced by the country with corruption.
Zambia: EITI: Promoting transparency, accountability Zambia Daily Mail
Apr 4 - On the launch of the Extractive Industries Transparency Initiative (EITI) 2009 Reconciliation Report - "underscoring the country’s commitment to and progress made in the implementation of the programmes." Hat tip: Sandra Kidwingira.
London chases holders of Swiss accounts swissinfo
Apr 17 - "British tax authorities are using a CD of data stolen from a Geneva branch of bank HSBC to track down taxpayers who have hidden money in Switzerland. From 2013, the so-called “Rubik” deal – judged “fully compliant” with European Union law on Tuesday by the bloc’s taxation commissioner – should forbid such operations, but the accord is open to interpretation..."
Barclays’ Tax Deals Face US Scrutiny CNBC
Apr 16 - "Barclays’ controversial tax planning business will come under fresh scrutiny in a U.S. court this week over whether a transaction designed by the bank cost the U.S. government more than $1 billion in lost tax receipts."
U.S.: Chesapeake CEO took $1.1 billion in shrouded personal loans Reuters
Apr 18 - Another great piece in the Reuters series on shell companies. "If Chesapeake were trying to make things muddy and unclear without breaking the law, this would be a good way to do it."
Tech Untaxed: Tax Avoidance in Silicon Valley, and How America’s Richest Company Pays a Lower Tax Rate than You Do The Greenlining Institute
Apr 18 - "Tax avoidance by wealthy high-tech firms is on the rise, a new report from The Greenlining Institute finds." See op-ed in the San Francisco Chronicle, and commentary on Tax Research UK.
Guernsey needs to ‘urgently reposition its economy Tax Research UK
Apr 18 - Richard Murphy on a story reported in the The Guernsey Press ‘Reliance on tax loopholes must end’, "Guernsey urgently needs to reposition itself as a different type of economy, the retiring Treasury and Resources minister Charles Parkinson said yesterday."