Wednesday, May 15, 2013

Links May 15

Luxembourg and Austria go out of their way to help tax crime Tax Research UK. What has happened is potentially very serious. The one silver lining is that the parallel and different "Fatca" process is making good running, and that things remain very fluid and unpredictable. Many journalists have misread these European developments in glass-half-full fashion, with headlines such as "EU moves to close tax loopholes." No, this particular glass, and it's a big one, looks rather empty right now. Also see, for instance, EU keeps tax-hunt momentum, even as resistance firms France 24/AFP

Australia to lead G20 corporate tax evasion clampdown Reuters

Extra $68m for Australian Tax Office to tackle trust abuse The Australian

Singapore to Agree With U.S. on Sharing Bank Account Data Bloomberg

Hong Kong in line for surge in illicit fund inflows South China Morning Post
Singapore, EU moves to boost transparency may boost city's allure for global tax cheats

Tax havens yield to pressure for greater transparency la nacion (In Spanish)
Hat tip: Jorge Gaggero

Africa's "lift-off" held back by illicit finance drain: AfDB Reuters

Tax evasion remains a risk, says South African Revenue Service Business Report

Tax evasion in Pakistan: A critical analysis Business Recorder

Latin America tax revenue cut by evasion, write-offs: IADB MSN

Insight: Bank documents portray Cyprus as Russia's favorite haven Reuters

Cayman key target in UK tax evasion investigation Compass Cayman
On the story of Australian, British, and U.S. tax authorities cooperating on investigating a large cache of information on complex offshore structures used to conceal assets.

Release of Offshore Records Draws Worldwide Response ICIJ

Canadian money in tax havens at all-time high NUPGE

Greek Crackdown on Tax Evasion Yields Little Revenue The New York Times

As FATCA spreads globally, ACFCS poll shows compliance duties are all over the map Association of Certified Financial Crime Specialists.

NZ To Address FATCA Compliance Cost Concerns Tax-News

Swiss Neue Privat Bank Cooperating With U.S. Justice Department Probe Bloomberg

The City of London and the Offshore sector - The Enemy Within Rowans-blog

Guernsey publishes tax transparency chart Channel TV
Guernsey's government has unveiled a ten point plan to try and prove it's not a tax haven.

Visualizing The World's Tax Havens zero hedge

Tax Havens and the Return of the Pirates The Washington Spectator

Tax haven tsunami Islands Business
"What may kill offshore banking is the realisation that it does very little to benefit host nations."

A memo to the world’s dictators - Subject: Asset protection and regime change. From: Mirkwood Capital To: High-net-worth rulers The Economist

U.S.: Tax Rates Down, Havens Thriving: Corporations Win, Workers Pay Common Dreams

Top Economists and Financial Experts Say We Must Break Up the Giant Banks The Big Picture


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