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EU Savings Tax Directive to be repealed?
October 17th, 2014
The EU Savings Tax Directive (EUSTD) has been the EU’s flagship transparency initiative since its introduction in 2003, and we have written about it on many occasions. It complements another EU transparency scheme called the Directive on Administrative Co-operation, which was beefed up this week, as the Wall St. Journal reported:
“European Union finance ministers agreed Tuesday on a far-reaching crackdown on tax evasion that will bring the bloc’s standards on par with global rules by 2017, although Austria is getting an extra year to build up a data-exchange system with its banks.”
The DAC currently covers only EU Member states, while the EUSTD is extended by agreement...
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PWC report endorses country by country reporting for banks
October 7th, 2014
9144964712_3a080060a2_zFrom Euractiv, a statement that would have been unthinkable even just a couple of years ago:
“Publishing turnover, staff numbers, taxes paid and subsidies received in every country banks operate in, could boost competitiveness, increase lending and bolster financial stability, the independent study by auditors PwC will find. It will fight tax evasion and not harm investment or result in excessive compliance costs for banks, the report will say once published.”
This research, carried out for the European Commission as due diligence for the fourth revision of the EU Capital Requirements Directive, is highly...
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IMF: tax havens cause poverty, particularly in developing countries
June 25th, 2014
7409496574_1b1be3e2ec_z The IMF has a major new Policy Paper out entitled Spillovers in International Taxation, looking at the effects that one country’s tax rules and practices can have on others. Of course the IMF would never be so rude to some of its most powerful member states as to explicitly say what is in our headline – but that’s what we read between the lines. “Spillovers” in international tax are all about tax haven activity, particularly when those spillovers are deliberately crafted. Now that we’ve read it, we conclude that this is a really important document. It tears...
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How #MTN moved large sums of money out of #Ghana, other African countries into #taxhavens
- Friday Oct 9 - 1:59pm

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