Links Jan 22

Switzerland's oldest bank shuts down. Does it mean the end of super-secret banks? Economic Times
Cites Jason Sharman and Swiss whistleblower Ruedi Elmer. Hat tip: Hans-Rudolf Scheller.

How the Vatican built a secret property empire using Mussolini's millions Guardian
"Papacy used offshore tax havens to create £500m international portfolio, featuring real estate in UK, France and Switzerland."

242 Billion USD Have Been Transferred From Hungary To Offshore Tax Havens xpatloop

United Daily News: FATCA, Starbucks and Morris Chang's call Focus Taiwan

Ethical investors step up focus on tax avoidance Reuters

The University must come clean on “tax haven” dealings Nouse - The University of York's student newspaper
Nouse is also writing on What is the difference between tax evasion and tax avoidance?

Dell Leveraged Buyout May Hinge on Cash Hoard Outside U.S. Bloomberg
"They have systematically played the global tax avoidance game, and now find themselves with cash just beyond their reach, at least without taking a big tax and financial accounting hit."

With Tax Advantages Looking Shaky, Private Equity Seeks a New Path Dealb%k

As Companies Seek Tax Deals, Governments Pay High Price New York Times
See also: Summing Subsidies clawback

UK: Taxman sees increased avoidance by big business Reuters

UK: MPs to quiz big four accountants on tax avoidance Reuters

United, American Airlines Accused of Tax Avoidance AIN Online
Airlines accused of running “sham” business operations.

Goldman bankers get rich betting on food prices as millions starve The Independent