Wednesday, September 26, 2012

Links Sep 26

Canadian Money In Tax Havens at All-Time High Canadians for Tax Fairness
Sep 10 - "Nearly a quarter of all Canadian overseas investment dollars end up in tax havens. Those latest Statistics Canada figures are considered low because notorious havens like Monaco and Liechtenstein don’t share much information with Canada."

See also:
Occupy holds People's Parliament on anniversary Canadians for Tax Fairness

Sep 17 - Dennis Howlett,  C4TF Executive Director writes on an Occupy rally in Canada.

Switzerland Ponders a Future of Clean Money Spiegel
Sep 25 - "Where does the country's wealth come from? How much of it is due to Switzerland's tradition of banking secrecy, and for how much longer will it exist?"

Switzerland tax system set for overhaul The Telegraph
Sep 24 - "Wealthy foreigners can still enjoy special low-tax rates in Switzerland but the amount they pay is set to increase."

Australia Tax Office flags carbon emissions tax fraud scheme Money Management
Sep 26 - "The combination of offshore 'emission units' which may not exist, transactions with entities located in tax havens and large tax deductions generated from small upfront payments with little financial risk are all indicators common to tax avoidance."

Zimbabwe Miners to Face Greater Tax Scrutiny Fin24

Sep 25 - Reporting on amendments to the Revenue Authority Act, giving greater power to the Zimbabwe Revenue Authority to enhance revenue collection."  Hat tip: Ann Njeru.

Implications of FATCA For Non-US Financial Institutions Financier Worldwide
Oct edition - Discussing the Foreign Account Tax Compliance Act (FATCA), the US anti-avoidance tax law aimed at stopping US citizens and taxpayers from ‘hiding’ income offshore. See here for a recent blog explaining FATCA.

How the largest tax crackdown in world history failed and could go right again Quartz

Sep 24 - "But even though America’s heavy-handed pursuit of its own tax evaders abroad while it shelters foreign ones in America seems hypocritical, it could lay the groundwork for a real international tax infrastructure."

The Real Problem With Romney's Offshore Investments Mother Jones
Sep 25 - "Romney's not just depriving voters of critical information about his own taxes. He's sidestepping a much larger policy question about this unaccountable financial system that has been a key driver of global inequality." Cites Nick Shaxson's Vanity Fair article.

China’s rich list: bad for business Financial Times

Sep 25 - "China’s billionaires and millionaires have long suspected that inclusion in China’s Hurun Rich List is bad for business. They worry that a high-profile ranking can often be followed by a high-profile knock on the door from the tax department, or worse."

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