Monday, April 08, 2013

Links Apr 8

Swiss banks give German clients an ultimatum swissinfo
German clients of two top Swiss banks have been warned that they must either produce evidence of having paid their taxes or do so within the next few months if they want to keep their accounts. A decent first step, though now they must extend this to other countries. (It will be easy for wealthy German clients to tick these boxes, though, using structures like Liechtenstein foundations, while still escaping tax).

Luxembourg 'open' to bank transparency, Luc Frieden BBC
This is progress, but see also comment from Tax Research UK. See also EU tax commissioner urges Austria to follow Luxembourg on bank transparency and Financial hub Luxembourg under increased scrutiny The Guardian / AP

The nation at the heart of the offshore scandal: Britain The Guardian. As blogged.

Reports put French budget minister Cahuzac’s secret stash at €15m swissinfo
Cahuzac is also accused of presenting forged tax certificates to Swiss banks that falsely showed that he had paid French taxes on his assets.

Peoples’ views of taxation in Africa: A review of research on determinants of tax compliance CMI (Chr. Michelsen Institute)

Canada Revenue Agency needs to go after offshore tax dodgers: Editorial The Toronto Star

Exxon’s Duck-Killing Pipeline Won’t Pay Taxes To Oil Spill Cleanup Fund Climate Progress
Lawyers and accountants help rich manage their money Mail & Guardian

Pakistan: Musharraf has Rs645m assets, but no tax paid in three years Khaleej times
Hat tip: Offshore Watch

India: Govt probing those named in tax haven expose The Indian Express

Slovakia: Smer remains tight-lipped about whether its members have accounts in tax havens The Slovak Spectator

New Zealand: IRD to investigate off-shore tax haven links The New Zealand Herald

Elites Undermine Putin Rail Against Tax Havens ICIJ

Piercing the secrecy of offshore tax havens The Washington Post
“Once your investment ends up in a place that bills itself as a secrecy haven, your money is offshore and you have no legal standing to go get it


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