Links May 18
May 16 - Khadija Sharife writes on patents, markets and secrecy jurisdictions, and examines the question, "is the world's large and increasingly impoverished population poor and dispossessed in spite of the market's current architecture, or because of it?"
Facebook’s Saverin May Save $67 Million on U.S. Tax Bill Bloomberg
May 16 - Report by Jesse Drucker - "Facebook Inc. (FB) co-founder Eduardo Saverin will save at least $67 million in federal income taxes by dropping U.S. citizenship, according to a Bloomberg analysis of the company’s stock price. Those savings will keep growing if Facebook’s shares increase..."
Sen. Schumer Proposes 30% Tax on Facebook Co-Founder, Others Who Renounce U.S. Citizenship for Tax Purposes TaxProf
May 18 - "U.S. Senator Charles Schumer proposed legislation that would impose a 30% capital gains tax on people like Facebook co-founder Eduardo Saverin unless they show they didn’t renounce their U.S. citizenship to avoid taxes."
The tax justice movement is probably the most pro-business lobby in the world right now Tax Research UK
May 17 - "We argue that business and those who invest in it should have all the information they need to make decisions. That’s called country-by-country reporting. Information and transparency are good for business."
Vive la Petite Difference: Camp, Obama, and Territoriality Reconsidered TaxProf
May 16 - Article by Reuven S. Avi-Yonah, published in Tax Notes. "The recent tax reform proposals by House Ways and Means Committee Chair David Camp, R-Mich., and by President Obama seem to offer starkly contrasting visions of how to reform the taxation of foreign-source income earned by U.S.-based multinational enterprises."
The secret of Swiss Bankers Radio-Canada
Apr 5 - On Swiss bankers who commit "the worst crime possible" in their environment - they have unveiled records of their wealthy clients". The report includes interviews with Nick Shaxson and Rudolf Elmer.
A banker in the making swissinfo
May 15 - Video providing interesting peek into the changing culture and environment of working in Swiss banking.
Why’s Bob Geldof so tetchy about his tax affairs? Tax Research UK
May 16 - Richard Murphy comments on Bob Geldof, rock musician and philanthropist, being questioned about his tax arrangements in an interview at the World Economic Forum held in Ethiopian capital Addis Ababa.
Transition Culture interview Treasure Islands
May 15 - Interview with Nick Shaxson, author of ‘Treasure Islands: tax havens and the men who stole the world’. Connects the global and the local, bringing out how tax havenry permeates society.
Whose fault is the banking and mortgage mess? There is a simple answer, actually Treasure Islands
May 17 - Commenting on "an avalanche of stuff out there in the UK press following comments about the financial and mortgage crisis by the hapless UK Defence Secretary Philip Hammond, who has just claimed that people who took out loans were “consenting adults” who, in some cases, were now be seeking to blame others for their actions." Nick points to a way forward.