Links Dec 4
Nov 29 - The article asks, "are the world’s great powers losing the war on tax havens?"
Fighting inequality to ‘bend the arc’ of history Uncounted
Nov 1 - Alex Cobham presents a guest blog from Otaviano Canuto, World Bank Vice President and Head of the Poverty Reduction and Economic Management (PREM) Network. Cites Save the Children’s report, Born Equal - the report highlights progressive taxation and social protection mechanisms as having a particular role to play, and the importance of global efforts to tackle illicit financial flows.
Swiss rich just keep on getting richer swissinfo
Nov 30 - "While the list contains many “home grown” multi-millionaires and billionaires, the attractive tax regime in many Swiss cantons has attracted people who made their fortunes overseas."
Swiss President Stands Firm On German Tax Deal Tax-News
Dec 4 - "Swiss President Eveline Widmer-Schlumpf has recently insisted that there is simply no scope for further improvements to be made to the bilateral Swiss-German tax deal, despite the German parliament’s rejection of the treaty on November 23."
Jersey Fostering Stronger Ties With Gulf Investors Tax-News
Dec 4 - Reporting on the "Jersey Advisory Group (JAG), formed by the government to engage senior private sector individuals ... Jersey established a similar JAG in China in October, and intends to hold JAG meetings in India, China, and the Gulf region on a regular basis to support the territory's efforts to break into these key markets."
Spain tax amnesty deal far from government target Reuters
Dec 3 - "The amnesty, criticised for pardoning tax evaders with a reduced rate while the government increased income and service taxes on most taxpayers, brought in just 1.2 billion euros."
The Phantom Accounts Organized Crime and Corruption Reporting Project
Nov 20 - A story of laundering US$680 million a year through a Latvian bank account registered to a New Zealand shell company. "Tracing the transactions took reporters to Chisinau, Moscow, Kiev, Riga, Bucharest, London and Auckland, cities that have become hubs in a huge network of banks, proxies, financial consultants and offshore companies that launder money and hide stolen assets."
Profiting from injustice Corporate Europe Observatory and the Transnational Institute
Nov 27 - This report uncovers a secretive but burgeoning legal industry which benefits multinationals at the expense of taxpayers, the environment and human rights.
Europe takes on tech giants and their tax havens Bloomberg Businessweek
Dec 3 - "A storm is brewing in Europe as nations try to force Internet powerhouses like Google and Amazon to pay more in taxes."
See also: VAT loophole on digital sales 'costs UK more than Olympics' Guardian
Dec 3 - The piece reports on the drive for a pan-European response to the imbalance between sales revenue generated in a particular economy and the taxation generated for the host country, with Philippe Marini, chairman of the French senate's finance committee, as a leading proponent.
Retailers in VAT dodge by shipping goods abroad and then back into UK This is Money
Dec 2 - After a Channel Islands loophole was closed, many firms are now sending goods to other places including the US, Switzerland and Gibraltar and then back into Britain – a process known as circular shipping – to avoid paying tax.
Tax and corporations: one law for them Guardian
Dec 3 - "With another tranche of welfare cuts about to pick poor pockets, such indulgence of big business empires cannot be sustained. If the Treasury cannot grasp that, it will have to reckon with the wrath of voters who have already got the point."