Links Apr 4
Apr 3 - "In their quest for tax transparency, the activists are inserting themselves in an elite policy-making arena that has traditionally been closed both to them and to the governments of poor countries." The paper cites TJN.
India: Fat cats lobby against tax crackdown Morning Star
Apr 2 - "Business groups representing 250,000 companies across the US, Asia and Britain have warned India’s prime minister that a proposed retroactive tax is causing foreign firms to reconsider investing in India." Hat tip: Offshore Watch.
Swiss take fall as US and UK 'havens' thrive: report The Local
Apr 3 - "Despite the recurrent finger-pointing aimed at Switzerland for providing a haven to tax dodgers, the Tax Justice Network has found that the US and the UK hold over 50 percent of the global offshore market."
'Switzerland Has a Lot of Explaining to Do' Spiegel Online International
Apr 2 -"Swiss arrest warrants issued over the weekend for German tax inspectors have sparked heated debate in Berlin over the ongoing tax evasion conflict with Bern."
If you want to know who’s really keeping billions in poverty, then the answer is the partners in the Big 4 firms of accountants Tax Research UK
Apr 4 - Richard Murphy on an article in BusinessDay: Transfer pricing could help shoot up Nigeria’s GDP - PWC, commenting that the Big 4 firms of accountants " are working so hard to defeat country by country reporting and ... to oppress developing countries by keeping the OECD’s arm’s length pricing model of transfer pricing in place."
RBC Sued by U.S. Regulators Over Wash Trades for Tax Benefit San Francisco Chronicle
Apr 3 - "Royal Bank of Canada was sued by U.S. regulators over claims that the Toronto-based lender engaged in illegal futures trades worth hundreds of millions of dollars to garner tax benefits tied to equities."
U.S.: Gangster Banks Keep Winning Public Business. Why? Rolling Stone
Mar 22 - Matt Taibbi on bid-rigging, how this impacts revenues and taxation, and the state of modern finance - "the bottom line with municipal bid-rigging is that it costs all taxpayers ... enormous damage in lost services and increased taxes."
U.S.: Transfer pricing brings tax troubles to tech bigs Market Watch
Apr 2 - On tech firms being flagged for overseas transactions, and the IRS cracking down on transfer pricing abuse.
U.S." Let’s end tax cuts and get corporations to pay their fair share The Washington Post
Apr - Op-ed by a small business owner and member of Business for Shared Prosperity.