Friday, November 16, 2012

Links Nov 16

Nordic CSOs call for an end to tax haven investments Eurodad
Nov 14 - In an open letter, Nordic civil society organisations (CSOs) raised concerns about the tax haven investments of Nordic Development Finance Institutions (DFIs). They called on the development ministers of Sweden, Denmark, Norway and Finland to put an end to tax haven investments, as well as calling for increased transparency of DFIs. Read the letter.

Switzerland: Sparks fly as cantons face losing tax billions swissinfo

Nov 16 - "A showdown with the European Union over corporate tax breaks now has cantons at each other’s throats, with billions of francs of annual revenues at stake. On the line is also Switzerland’s reputation as a tax haven for multinationals."

Argentina: The hidden wealth of the top families Cronista (In Spanish)
Nov 16 - "It would be fantastic if the government could mobilise even part of the large sums that  Argentines have taken out of the system and hidden elsewhere." The piece cites TJN.

Austria: Reporting is not due to the Swiss Tax Treaty Neues Volksblatt (In German)
Nov 15 - TJN and Attac counter claims by the Ministry of Finance that recouped tax revenues would be due to the Swiss tax treaty; instead, a large volume is the result of whistleblower disclosures.

India plans to unveil final GAAR rules in next 7-10 days Reuters

Nov 16 - "The GAAR proposal aims to target tax evaders, partly by stopping Indian companies and investors from "round-tripping", or routing investments through Mauritius and other tax havens."

Domestic resource mobilisation in developing countries – interesting graphs Eurodad
Nov 14 - Data shows "impressive strides developing country governments have made in mobilising a greater share of GDP through taxation ... Now imagine what they could do if the world got serious about stopping the hundreds of billions lost each year by developing countries in illicit outflows, and clamping down on global tax dodging by multinationals."

Bringing web transactions home for their just deserts Brisbane Times

Nov 16 - "Governments worldwide are pressing global technology companies to justify ownership structures that rely on tax havens." The piece provides a helpful overview of tech giants' tax dodging scenarios.

Forget Bermuda, Britain's tax havens are much closer to home Guardian

Nov 15 - "It's easy to point a finger at Amazon and co, but UK-based trusts make it easier than ever for the rich not to pay their share."

OECD warned on new tax rules Financial Times
Nov 14 - " The planned overhaul of the rules on “transfer pricing” that divide profits between countries is not the answer to governments’ growing concern over the erosion of the tax base, business representatives told the OECD at its Paris base on Wednesday."  See TJN's Transfer Pricing page for information, news and updates, and why the OECD's approach is flawed.

Commodities - Switzerland's most dangerous business Berne Declaration
This new book "offers a portrait of the key firms and people behind the discreet deals, provides insight into the social and ecological consequences for the producing countries, analyzes the practices and repercussions of tax avoidance and speculation, and offers proposals for achieving more justice in a multi-billion-dollar business that affects everyone."

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