Friday, September 21, 2012

Links Sep 21

Shell Companies - Launderers Anonymous The Economist
Sep 22 - On “Global Shell Games: Testing Money Launderers’ and Terrorist Financiers’ Access to Shell Companies” - "This study, by far the most thorough of its kind, makes sobering reading ... OECD countries show little willingness to tackle their own weaknesses and end their hypocrisy." See also yesterday's blog.

A Research Report on Good Tax Governance in Africa ATAF

Aug 24 - "With its focus on Africa, this research project ... identifies the key trends in tax governance on the continent, elaborating on the renewed interest in taxation, the reforms underway in tax administration and organisational structure, the consequences of unstable tax revenues, and the nexus between taxation and good governance." Hat tip: Ann Njeru.

Points of view on Transfer Pricing TJN Latin America and Caribbean

Sep 10 - An overview, in Spanish, of the main topics discussed in the recent seminar on Transfer Pricing hosted by the Ministry of Foreign Affairs of Finland, Tax Justice Network and KEPA.

Overseas corporate holdings dwarf economies of tax havens TribLive

Sep 20 - "Multinational corporations hold an estimated $1.5 trillion in cash overseas, dwarfing the entire economies of some tax haven countries where the money has been stashed, a U.S. Senate investigation revealed."

See also:
Microsoft, HP skirted taxes via offshore units: U.S. Senate panel Reuters

Sep 20 - "Microsoft Corp and Hewlett-Packard Co pushed back against claims by a U.S. Senate panel on Thursday that they used offshore units and loopholes to shield billions of dollars in profits from U.S. taxes."

Overseas tax dragnet refocuses on country partnerships Reuters
Sep 18 - "A crackdown on overseas tax evasion is fast changing shape as officials move to implement it via country-to-country agreements, rather than by enforcing a single law for all financial institutions ... "These agreements ... while not perfect, are a good first step," said Nicole Tichon, executive director of U.S. Tax Justice Network ."

US Sends FATCA Envoy To EU, Asia Tax-News
Sep 21 - "The United States Treasury Department has announced that Deputy Assistant Secretary for International Tax Affairs, Manal Corwin, is travelling to Europe and Asia ... to discuss the implementation of the Foreign Account Tax Compliance Act (FATCA) and global efforts to combat offshore tax evasion."

Bankers call on Caricom to fight Fatca Jamaica Observer
Sep 19 - Representatives of the Caribbean Association of Banks (CAB) are hoping for a regional stance on FATCA. Under discussion are reciprocal arrangements similar to those that the U.S. has been having with the UK, France, Germany, Italy and Spain.

UK: HMRC Extends Anti-Avoidance Taskforce Activity Tax-News
Sep 20 - "The legal profession in London is among those being targeted by new HM Revenue and Customs (HMRC) taskforces as the UK government seeks to recover around GBP20m (USD32m) in tax from a variety of schemes."

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