Thursday, February 12, 2009

Links - Feb 12

** Also see our searchable archive of past story summaries; and Offshore Watch. **

Lloyds faces new loans allegations as MPs confront banks on alleged tax avoidance
Feb 12 (Guardian) - MPs yesterday confronted banking chiefs from Lloyds and Barclays with Guardian disclosures that they are alleged to practise massive tax avoidance schemes.

Shifting profits across borders
Feb 12 (Guardian) - 'Transfer pricing' is the biggest tax avoidance scheme of all. The government must insist on companies being more transparent.

G20 nears deal on bank capital, tax havens-report
Feb 11 (Reuters) - Group of 20 countries discussing reforms to the global financial system plan to increase capital requirements for banks and take a tough stance against tax havens, according to Germany's Handelsblatt newspaper.

Vincent Cable responds to your comments
Feb 12 (Guardian) - The Liberal Democrat shadow chancellor replies to comments left on his article about corporate tax avoidance

Switzerland is not a haven for tax evaders
Feb 12 (Guardian) - We believe in privacy, and our approach encourages a high degree of taxpayer honesty, says Urs Roth, chief executive officer of the Swiss Bankers Association. See also TaxAnalysts taking a different view, here.

Tax glossary
The world of tax is full of confusing technical terms. Here are the most important and what the Guardian means by them. Tax evasion, avoidance, planning and gap.

Die Wochenzeitung
TJN’s President, Bruno Gurtner’s opinion piece in Switzerland’s recent referendum on taxing foreigners. No English translation available.

For Investing With Madoff, Private Foundations Could Face Tax Fines
Feb 11 (NYT) - Foundations that lost billions of dollars investing with Bernard L. Madoff have another reason to fret: they could be socked with sizable fines for failing to exercise sound judgment.


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