Friday, May 31, 2013

Links May 31

Leading transparency campaigners welcome UN development report Global Witness

Australia Publishes Tax Transparency Legislation Tax-News
See also: World's big companies must be made to pay fair share of tax Sydney Morning Herald and Top firms' tax haven links revealed Sydney Morning Herald

Another nail in the coffin of tax secrecy Financial Times
Big economies are turning the tide against havens, though only up to a point

Minister wants to remove tax evader ‘shield’ swissinfo
Abandoning the traditional Swiss distinction between tax evasion and tax fraud would be a very interesting development. Banks have long hidden behind the view that if you declare nothing, there's no problem.

Swiss hesitate over tax accord swissinfo
Switzerland is withholding its signature on the OECD's convention on mutual administrative assistance in tax matters because it wants to “keep all options open”  according to Economics Minister Johann Schneider-Ammann.

Levy free: How billions of pounds have been siphoned off to tax havens The Guardian
On using royalties and interest payments as tax dodges. Pascal Saint-Amans, OECD's head of tax, explains measures will be taken - but says somewhat bizarrely: "We put an end to bank secrecy in 2009, we can do this too". We certainly didn't notice this 'end to bank secrecy.'

OECD prepares new rules to limit corporate tax avoidance The Guardian

Double Dutch: loopholes get multinationals off tax hook The Irish Times

Apple and Google got €25m in grant aid from IDA Irish Independent

Apple founder Steve Wozniak: public anger at tax arrangements is 'warranted' The Telegraph

Insight: How U.S. Treasury's tax loophole mistake saves companies billions each year Reuters

U.S.: No Replacement for Corporate Taxes The New York Times
See also: Don't reward companies that send profits offshore The Baltimore Sun

Singapore, Hong Kong to Claim Larger Share of Offshore Wealth Pie The Wall Street Journal

Offshore wealth grows despite crackdown on tax havens Financial Times

Lloyds continues sale of private banks The Telegraph
See here for our comment on the wow factor of these developments.

UK-linked tax havens must now join countries refusing to hide dirty money Christian Aid


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