Thursday, September 20, 2012

Links Sep 20

Argentina becomes the first South American country to become a Party to the Multilateral Convention OECD
Sep 13 - Another welcome step forward. See TJN comment on the Multilateral Convention here.  Hat tip: Mark Herkenrath.

Tax and Development - Aid Modalities for Strengthening Tax Systems OECD
Forthcoming publication, due 8 Oct 2012. Hat tip: Mark Herkenrath.

Millions frozen in Uzbek case swissinfo
Sep 19 - "Swiss banks have been ordered to freeze hundreds of millions of francs in assets linked to an alleged Uzbekistan money laundering scam." The question is, yet again, how did the money come to be taken into those banks?

UBS Paris offices searched in tax evasion probe Reuters
Sep 19 - "The Paris offices of UBS have been searched as part of a probe into allegedly aiding tax evasion in a sign that a months-long investigation into the Swiss bank's French wealth management activities may be gathering steam."

Ex-German finance minister keeps up pressure on Swiss over tax CNBC

Sep 19 - "Former German Finance Minister Peer Steinbrueck said on Wednesday federal states led by his Social Democrats would not waver in their opposition to a deal with Switzerland meant to stop Germans using secret accounts to evade taxes."

Vodafone Could Set Aside Billions For Indian Tax Liabilities Tax-News
Sep 20 - Latest news on a transaction, targeted by the Indian tax authorities, involving Netherlands and Cayman registered subsidiaries.

Invisible money: voyage to Luxembourg Ground Report
Sep 20 - On money "relentlessly moving from haven to haven", with a shocking "how it works" case study.

Offshore Profit Shifting and the U.S. Tax Code U.S. Permanent Subcommittee of Investigations
Sep 20 - "The Subcommittee will examine the shifting of profits offshore by U.S. multinational corporations and how such activities are affected by the Internal Revenue Code and related regulations."

U.S.: Tax Moochers: Banks ProPublica
Sep 19 - On how a distortion in the tax code makes "debt cheaper and encourages banks, at the margin, to gorge on more."


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