Friday, September 14, 2012

Links Sep 14

UK: Yesterday in parliament: tax avoidance and evasion Tax Research UK
Sep 14 - See Richard Murphy's blog for news and updates on the debate on the General Anti-Tax Avoidance Principle Bill.

If Helsinki can refuse to deal with companies with tax haven links why can’t UK councils do the same? Tax Research UK
Sep 14 - On news from Finland: "The Helsinki City Council on Wednesday debated a proposed strategy of global responsibility under which the city “considers it important to fight against tax havens and to avoid collaboration with companies with links to tax havens”.

Switzerland: Parliament allows controversial tax assistance swissinfo
Sep 13 - "Parliament has approved grouped requests for administrative assistance on tax matters in line with international standards - further weakening Switzerland’s banking secrecy law."

Apologetic Swiss banks sweat it out as U.S., Europe mull redress Reuters
Sep 12 - Reporting on the pressure on Swiss banks, which are described as "like mice before a snake".

Credit Suisse clients may withdraw $37 billion over tax Reuters
Sep 12 - "Credit Suisse could see clients in western Europe withdraw up to a net $37 billion in the next few years as Switzerland bows to pressure to stop foreigners using secret offshore accounts to evade taxes. "

Italy's tax authorities target art world Guardian
Sep 13 - "The semi-militarised revenue guard, the Guardia di Finanza, said two "noted art galleries" in Rome and the north-eastern city of Padua had been temporarily closed as the result of a sweeping investigation into tax fraud and money laundering in the art world."

Italian Yacht Owners Weigh Anchor To Dodge Taxes Vermont Public Radio
Sep 8 - "Owners of luxury yachts are a prime target, with tax police launching dockside raids to see how individual tax files line up with owning and maintaining an expensive boat. But yachts are mobile assets ..."

Romanian Tax Authority wants to reward snitches on other people’s tax evasion Romania-Insider

Sep 14 - "Romanians who denounce  people or companies’ potential tax evasion to the Tax Authority will receive fiscal rewards, similar to the system in other states, according to Finance Ministry State Secretary Liviu Voinea."

Malta: Parties told to fight tax evasion ‘cancer’ Times of Malta

Sep 11 - "Tax evasion is “a cancer” political parties have to address in a strong way, the Forum of trade unions is warning."

Primary Greek tax evaders are the professional classes Guardian

Sep 9 - "Greece is riddled with corruption, but a study shows that banks, politicians and professional workers are largely to blame."

Taxes, Poverty and Political Debates Citizens for Tax Justice
Sep 12 - CTJ reports that "the overall U.S. tax system is just barely progressive when you combine all federal, state and local taxes."

Vatican recruits anti-money laundering expert Independent Catholic News
Sep 11 - In the wake of the recent MONEYVAL report, "the Holy See has issued a new statement expressing commitment to continue responding to the report's recommendations and "ever more efficaciously pursue transparency and financial trustworthiness." Hat tip: Offshore Watch

Upcoming anti-money laundering directive: Eurodad’s views Eurodad
Sep 6 - On 7 November the European Commission will release a proposal for a revised Anti-Money Laundering Directive - Eurodad provided a submission to the consultation, endorsed by LATINDADD and Jubilee USA. Includes tax evasion as a predicate offense, transparency of beneficial ownership, and compliance and enforcement.

Secretive Shell Corporations New York Times
Sep 3 - Letter to the Editor from GFI's Heather Lowe, on why the U.S. Government needs to take action to abolish anonymous shell corporations.


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