Friday, November 09, 2012

Links Nov 9

USA: History’s Largest Free Port for Financial Freebooters? Angry Bear
Nov 7 - Important commentary on the Supreme Court’s controversial 2010 decision in Morrison v. National Australia Bank - "Whether petty criminals or clever multi-national corporate schemers, such wrongdoers may have been dealt a “get out of jail free” card by the Supreme Court."

How to Rob Africa Al Jazeera
Nov 8 - Reporting on proceeds of corruption being channelled into bank accounts in Europe and the US, and asking why the outside world feeds Africa with one hand and takes from it with another.

Tax evasion scandal not over for Swiss banks swissinfo
Nov 9 - "The revelation of a tax evasion probe in Germany and the guilty plea of a former banker in the United States this week shows that Swiss banks are not yet off the hook from ongoing global investigations."

U.S. in talks with dozens of nations on anti-tax dodge pacts Reuters
Nov 8 - US Treasury lists 47 jurisdictions, including India, Sint Maarten, the Cayman Islands, Gibraltar and Liechtenstein, in various negotiation stages on formal agreements governing how their local financial businesses can comply with the U.S. Foreign Account Tax Compliance Act (FATCA).

Italy Working Towards Swiss Tax Deal Tax-News
Nov 9 - Latest news on Rubik developments. See recent press release from TJN on Rubik here. and a recent blog summarising the loopholes here.

Belgium Eyes Tax Amnesty Tax-News
Nov 9 - "Opinion is divided. Certain parties favour this option instead of plans to increase the tax burden on either workers or on pensioners in Belgium. Opponents insist that banking secrecy must be lifted on those who endeavour to conceal their hidden wealth from the state, however."

Investigators track Mubarak’s wealth The Bureau of Investigative JournalismNov 5 - "Further questions remain about Mubarak family assets channelled overseas throughout their three decades at the top. Egyptian investigators have now asked the UK, US, France, Switzerland and Liechtenstein to freeze the bank accounts of former government officials and businessmen with close links to the former regime." See also the Bureau's series on Rulers' Riches here.

Ireland taking more than it gives to Africa Irish Times
Nov 6 - "Ireland has long been proud of its contribution to development aid to Africa and other poorer parts of the world, but the growing amount of information available concerning the role Dublin plays in the tax structures of multinationals challenges that view."

Google Denies Receiving Any Tax Claim From French State Bloomberg
Oct 31 - On moves by the French government to clamp down on tax dodging by internet companies which "collectively escape hundreds of millions of euros in French value-added and corporate taxes because of loopholes in European Union laws and the different tax rules in the region’s countries."

UK: A roll call of corporate rogues who are milking the country Guardian

Oct 30 - "The scale of unpaid tax now outstrips the entire deficit. Forcing the elite to pay up is a matter of both justice and necessity."

Starbucks Germany paid no income taxes for ten years TJN Germany Blog

Nov 2 -  Revealing more of Starbucks' tax gymnastics.


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