Links Jun 4

Global Tax Topical Focus - FATCA Is Coming Tax-News
Jun 4 - Useful overview of The Foreign Account Tax Compliance Act. See explanation of FATCA by TJN Senior Adviser David Spencer here.

The inglorious role of Germany in the drive towards more transparency in the extractive sector TJN-Germany blog
Jun 1 - Outlining the role played by Germany and German politicians in European proposals for financial disclosure in the extractive sector, and highlighting how the federal government is opposing mandatory disclosure at project level. Google translation here.

Split Outcome On Swiss Tax Deal Vote Tax-News
Jun 4 - "While the Swiss National Council, or lower house of parliament, has approved in principle the tax agreements with Germany, the UK, and with Austria, it has rejected the underlying framework law."

Africas external, tax revenues triple to USD152.2b in 2011-AfDB ATAF Kodi Katika Afrika
May 28 - Reporting on The African Economic Outlook 2012, co-written by the AfDB, the OECD Development Centre, the United Nations Economic Commission for Africa and the UN Development Programme.

South Africa's tax base doubles ATAF Kodi Katika Afrika
May 24 - "The higher standard of tax morality had cushioned South Africa from the worst of the global crisis."

Kenya: Here Is How to Build Costly Infrastructure ATAF Kodi Katika Afrika
May 25 - "Most of African countries are under developed and unable to afford the construction of infrastructures. Therefore, the establishment of a proper taxation system that will enable the collection of adequate capital for infrastructure is naturally a subject quite valuable for studying..."

India To Tax More Merger Deals Tax-News
Jun 4- "The Indian government has a list of corporate merger deals from which it hopes to claw back billions of dollars in back taxes with a proposed retrospective amendment to income tax law ... the government has set its sights on up to 20 M&A deals which share similar characteristics to Vodafone's takeover of Hutchinson Essar's Indian business, and which erupted into a five year fight between the British telecoms giant and the Indian tax authorities."

See also:
Taxman made wrong call? Postnoon
Jun 4 - Commentary on the story of the Vodafone tax-dodging.

Let's reclaim the jubilee Guardian
Jun 3 - "The word is synonymous now with a pageant of privilege. But its ancient meaning is radical ... The current Jubilee Debt Campaign continues to turn the spotlight on tax evasion, speculative finance and unaccountable corporate capital."

U.S.: The IRS 35,000: How the Richest Americans Pay the Lowest Taxes Citizens for Tax Justice
May 31 - "The new (and most recent) IRS data show that in 2009, more than 35,000 Americans* with incomes over $200,000 paid not a dime in federal income tax."

See also:
U.S.: Check out who paid no taxes The Wall Street Journal
Jun 1 - Video- WSJ's Laura Saunders highlights new figures from the IRS that indicate the number of high-earners who paid no income taxes has jumped in recent years.

U.S. Multinationals Lobby to Alter Tax Rules They Sought Bloomberg
Jun 4 - "U.S. multinational companies have been seeking a tax break on overseas income for years, and the top Republican tax writer in Congress is proposing to give it to them. There’s a catch they don’t like..."