Links Nov 20
Real legislative advance on country-by-country reporting in the UK
Politicians Talk Tough On Tax Haven Reform, But Activists Say Talk Is Cheap ICIJ
"The offshore world is a place of shadows and strange bedfellows. The politics of offshore reform are no different."
Switzerland takes steps towards tax transparency swissinfo
Note however the story on Swiss private banking reported in yesterday's links.
Pakistan: Tax evaders and tax officials Business Recorder
"Unfortunately though to succeed with Switzerland a country must have clout or be part of an international effort to compel Switzerland as well as other countries where offshore accounts are accepted."
Vaduz-on-Thames - Why I Hate Living in a Tax Haven Huffington Post
Bahamas: Balmoral Chief 'Taking Plunge' In $30m Project Tribune242
Investor in upscale condo development explains, on potential buyers: “Instead of sitting in Switzerland with a bank deposit, they’re actually opting to move here and become a permanent resident.”
Bahamas: Ibc Act Gap Means No $13m Claw Back Tribune242
"A fund liquidator is unable to ‘claw back’ an alleged $13.148 million “fraudulent preference” because the International Business Companies (IBCs) Act does not allow proceedings to be served on creditors outside the Bahamas."
British Virgin Islands news: Company incorporations show “continued decline” Financial Secrecy Media Monitor
Brazil: Vale handed way out of $14bn tax dispute Mining.com
Ghana risks losing huge oil tax revenues GhanaWeb
See also: Ghana plans to introduce mining windfall tax bill Reuters
Money-laundering Nigeria’s future Vanguard
UK to help developing nations tackle tax evasion Financial Times (paywall)
"Plans to spend £6m on helping developing countries crack down on tax avoidance and evasion will be announced on Wednesday, in a move by the UK government to deliver on commitments made at the G8 summit in Northern Ireland this summer."
Bank groups seek more delay in offshore anti-tax evasion law Reuters
U.S.: The Quirky Economics of $2 Trillion in Offshore Cash The Tax Analysts Blog
U.S.: Baucus Corporate Tax Proposal Closes Loopholes, but Leaves Incentives to Shift Profits to Offshore Tax Havens U.S. PIRG
Biggest Tax Break In U.S. History May Not Be Enough For Boeing Huffington Post
7 Companies Making Use of a Stock Option Tax Loophole Wall St Cheat Sheet
Top bank managers must set tone for anti-money laundering compliance - U.S. officials Thomson Reuters
Of Course Tim Geithner is Joining a Private Equity Firm New Republic
$13 billion settlement: In Extracting Deal From JPMorgan, U.S. Aimed for Bottom Line Dealb%k
JPMorgan’s chief financial officer emphasised that $7 billion of the settlement was tax-deductible.
Serbia: Mogul Denies Embezzlement And Tax Evasion Accusations hetq
Tax Dodge Global News
Vatican puts third department under outside financial scrutiny Reuters
Why Regulate Bitcoin? The New Yorker
See also: Bitcoin Tax Tips For Congress And Everyone Else Forbes