Financial Transparency Coalition

In Germany, the Social Democratic Party (SPD) has come out against the deal. Meanwhile, the European Commission has also said it will have to assess the legality of the deals but has not taken a firm position. The final withholding tax concept, known as ‘Rubik,’ was initially formulated by the Association of Foreign Banks in Switzerland (AFBS) and by Swiss banks to protect banking secrecy against the international moves towards automatic tax information exchange, which followed the global financial crisis.

SPD Plans to Block Rubik Ratification in Germany

The SPD’s financial concept note published last Monday rejects the agreement with Switzerland. It is...

PARIS – Furthering efforts to fight against international tax evasion and bank secrecy, members of the Global Forum on Transparency and Exchange of Information for Tax Purposes have issued 12 new peer review reports.

WASHINGTON, DC – Proponents of tax fairness and financial accountability applauded the news yesterday of the Senate’s passage of patent-reform legislation containing a provision to eliminate tax strategy patents.

George Osborne says that 'those who evade taxes, like benefit cheats, are leeches on society'. However, he has agreed a deal that rewards those who avoid paying taxes in the UK by hiding their money in Switzerland. George Osborne says: 'my message to those who try to hide their incomes from the Revenue in offshore bank accounts and false declarations is simple: we will find you and your money.' A senior official at the Indian Central Board of Direct Taxes says: 'money laundering or illegal commission are a criminal offence. So, our effort will be to not...