Friday, June 22, 2012

Links Jun 22

U.S.: IRS Pledges to Improve Whistleblower Program TaxProf
Jun 21 - Following an article in Bloomberg (linked recently), the IRS says it "will review its tax whistle-blower program to improve its backlog and working practices, after the program came under fire from politicians and lawyers."

Parliamentarians call for financial transparency Eurodad
Jun 21 - "Members of parliament from Africa, the Caribbean and the Pacific (ACP) and Members of the European Parliament supported key Eurodad demands on tax when they adopted a resolution on the social and environmental impact of mining in developing countries at the Joint Parliamentary Assembly (ACP-EU JPA), in Denmark end May."

Kenya: Executives Set to Pay for Tax Evasion allAfrica 
Jun 21 - "Directors and senior management will now be personally liable for tax offences committed by the firms they work for and will be compelled to pay any dues to Kenya Revenue Authority if such offences are proven."

Swiss and US move forward on tax compliance swissinfo
Jun 21 - Update on Switzerland and FATCA. "The Swiss Bankers Association said it welcomed the move, particularly the fact that banks would be able to hand over data directly to the US authorities and not via the government as in the solution proposed with five European states."

Swiss haven chagrined as commodities traders look East Reuters
Jun 22 - On how: "Singapore is also beating Switzerland at its own game - on taxes."

UK government set to shelve plan to publish ministers' tax returns Guardian
Jun 21- More news on emerging tax dodging scandals of public figures - the government may now be "preparing to abandon plans for David Cameron and senior ministers to disclose their tax returns." (See earlier blog on this story). Interesting to compare with the culture and practice in Finland on public disclosure of taxes paid.

Debate: Nick Shaxson vs. Mr. Angry of the Cayman Islands Treasure Islands
Jun 22 - An intriguing exchange between Nick and Anthony Travers OBE, currently chairman of the Cayman Islands stock exchange, who has been "leading a one-man protest movement against Treasure Islands for quite some time. Some illuminating points emerge.

UK Lord costs £14k+ pcm Cayman Islands News
Jun 22 - Records released following an FOI request show the Cayman Islands public purse is being charged a significant amount by Lord Blelncathra, for playing a role promoting the Cayman financial services industry. See earlier report by The Bureau of Investigative Journalism here.

Who is bailing who out of the leaky boat? The Racoon Arms
Jun 20 - Wrenching story of global interconnections in corruption and inequality. Hat tip: The Cynical Tendency.

Doomsday Prophet Found Guilty Of Tax Evasion Huffington Post
Jun 21 - Er, no comment.


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