links – Dec 20

Corrupt money hides in Dubai, officials turn blind eye – Eva Joly Thomson Reuters

UAE (Dubai) is ranked at 16th position on the 2013 Financial Secrecy Index.

Austria’s outspoken finance minister replaced Financial Times (paywall)

The Austrian Ostritch has been ostracised. See also: Austria’s Coalition Accord Sets Out AEI Tax Stance Tax-News, and recent blog Austria, Luxembourg continue to defend dirty money, undermine EU

Budget deal a victory for oil payment transparency Oxfam

What our leaders promised us for Christmas Eurodad

On EU leaders and tax justice promises.

Wealth magnet Singapore challenges private banks swissinfo

See also: Standard Chartered says private bank client statements stolen in Singapore Reuters

Swiss agree to EU savings tax talks swissinfo

See also reported in swissinfo:

Corporate tax reforms to go out to consultation

Swiss hold on to Egyptian and Tunisian funds

UBS funding casts doubt on university independence

United States: A Race To Disclose Secret Offshore Accounts: New Justice Department Program Pits Swiss Banks Against Their U.S. Accountholders mondaq

See also: US Treasury signs anti-tax evasion pacts with six jurisdictions Reuters

Cayman news: corruption accounts for more suspicious activity reports; company registrations “robust” Financial Secrecy Media Monitor

India losing patience with Cyprus on tax pact Cyprus Mail

Insight: The Great British tax giveaway Reuters

UK: Tax avoidance: a capital idea! Private Eye

Private Eye’s superb dig into French-domiciled owner of Daily Mail, Lord Rothermere. Via BVI, Bermuda, Switzerland, Jersey.

UK: The complex tax lives of our foreign millionaires The Independent

Vodafone: an exercise in wildly missing the mark with selective tax PR Tax Research UK

European Commission opens tax probe on Spanish football clubs euobserver

TJN Briefing BEPS

TJN Briefing BEPS

Finance Curse

The Finance Curse: how oversized financial centres attack democracy and corrupt economies: Click here

Links – Jan 3

The BEPS Monitoring Group – Submission to OECD on The Digital Economy

It’s Official: From Today, Panama is no longer a Tax Haven Wealth Report
They all claim not to be tax havens, of course. Fascinating report, though: worth a full read, revealing some important elements of how the world of shell companies and secrecy jurisdictions operates. See also: New Panama Law, Quickly Repealed, Makes Panama Dangerous for Business Gold$eek

The Exciting New Trend In Citizenship Programs Wealth Report
On the disturbing rise of “citizenship by investment”. See also: A quick guide to buying St. Kitts and Nevis citizenship (residence not required) Financial Secrecy Media Monitor

Proof that offshore banking is the key to embezzling billions Quartz
On the dramatic tale reported in Billions Vanish in Kazakh Banking Scandal The Wall Street Journal

Latest update: Release Of Offshore Records Draws Worldwide Response ICIJ

Ex-UBS chairman slams ‘brutal’ US swissinfo. Well, if you’re going to attack another country’s tax system, then expect consequences. Especially if it’s a big and powerful country.

Liechtenstein bank closes its Swiss business Bilan (In French)

Rich Chinese hold the key to Asian growth for Swiss bank South China Morning Post
Lombard Odier’s Asia head explains, “More and more Chinese have offshore assets and we are good at helping them manage these assets as Hong Kong is positioned clearly as a hub for offshore wealth”.

Canada Revenue Agency looking to cut auditors despite rise in tax-haven cases Financial Post

Vodafone Agrees To Meet Indian Finance Ministry Officials Tax-News

U.S.: Five Tax Trends to Watch in 2014 Forbes

Bringing International Tax Rules Into the 21st Century Huffington Post
By Pascal Saint-Amans, Director of the OECD’s Center for Tax Policy and Administration

Time to abolish the corporate tax? Part 2: Only fools or shills would agree

Yesterday we posted a blog looking at a New York Times editorial entitled Abolish the Corporate Income Tax, exposing many of the numerous fallacies and misunderstandings at the base of it. Forgive us for going on about this, but it is important.

Now Citizens for Tax Justice in the U.S. has produced an article of their own, which complements ours and adds several more important points. It starts like this:

Another year, another campaign to give even bigger breaks to corporations and claim that this will create jobs. Continue reading “Time to abolish the corporate tax? Part 2: Only fools or shills would agree”

Time to abolish the corporate tax? Learned professor creates huge tax model to illustrate . . . nothing

Professor Laurence Kotlikoff, a professor of economics at Boston University, has written an opinion article in the New York Times headlined Abolish the Corporate Income Tax. Continue reading “Time to abolish the corporate tax? Learned professor creates huge tax model to illustrate . . . nothing”

TJF: mythbusters with pdf

May 2013 – Looking at persistent and powerful myths in contemporary economics.

Click here for the full edition.

Continue reading “TJF: mythbusters with pdf”

Tax Justice Focus: The Mythbusters edition

May 2013 – TJF explores some of the most persistent and powerful myths in contemporary economics. Click here. Our lead articles:

Continue reading “Tax Justice Focus: The Mythbusters edition”

Corruption in tax department in El Dorado

Corruption in tax department in El Dorado

Illicit Capital Flows and the Offshore Economy

For a general “Magnitudes” page giving estimates of the size of illicit financial flows and other measurements that are of interest to TJN, click here.

< Update: March 2009. Christian Aid’s False Profits: robbing the poor to keep the rich tax-free estimates that between 2005 and 2007, the total amount of capital flow from bilateral trade mispricing into the EU and the US alone from non-EU countries is estimated conservatively at more than US$1.1tn (£581.4bn, €850.1bn) >

< Update: March 2009. Oxfam estimates that developing countries miss out on up to $124 billion every year in lost income from offshore assets held in tax havens. >

< Invitation to participate in a workshop on Erosion of Public Finances in Developing Countries: Illicit Flows and Commercial Corruption, National Autonomous University of Mexico, September 2009 >
Continue reading “Illicit Capital Flows and the Offshore Economy”

Inequality & Democracy Introduction

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