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Old 4th November 2015, 09:59 PM   #1
edward222
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Default UK Takes Two-faced Approach To Tax, New Report Suggests

Credit to: Tax Avoidance News : UK takes two-faced approach to tax, new report suggests

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The UK government has a ‘Janus-faced’ approach to tax, a new report suggests: promising an increasingly intolerant approach to evasion and avoidance while being an aggressive participant in global tax competition and tolerating the UK tax havens which facilitate financial crime across the world.

The report, Fifty Shades of Tax Dodging, compares 14 European Union countries’ roles in the global tax system and gives the UK a mix of red and yellow indicators. It comes as a second new publication released on Tuesday, the Financial Secrecy Index 2015, warns that the UK’s role in global financial secrecy remains “a huge concern”.

Joseph Stead, the Christian Aid tax expert who wrote the UK chapter of Fifty Shades, said: “The UK Government pledged in its manifesto that it would ‘lead the world in tax and transparency’ but today’s report reveals that overall, the UK still has a lot of work to do to claim that title.

Its tax and secrecy policies are as bad as many other European Union member states and indeed worse than some, such as Denmark and Slovenia.

“Over the last five years the UK has led on some areas, but there’s a long way to go and in other respects the UK remains a big part of the problem.”
Your thoughts guys?

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Old 9th November 2015, 04:11 AM   #2
edward222
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Default Europe May Not Be a Tax Haven for U.S. Multinationals Much Longer

Credit to: Tax Evasion News : Europe May Not Be a Tax Haven for U.S. Multinationals Much Longer

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FRANKFURT (The Street) — Europe’s allure as a tax haven for U.S. multinationals may be coming to an end.

That’s because European Union regulators are closing up tax loopholes that U.S. companies have been enjoying for years. The first two to feel the heat are Starbucks (SBUX – Get Report) and Fiat Chrysler Automobiles (FCAU) . Each will have to pay as much as $30 million in back taxes, and will face significantly higher taxes going forward.

They’re not alone.

In addition to hurting its tax-haven status, Europe’s crackdown may galvanize support for President Obama’s efforts to address corporate offshoring of profits to avoid tax liability in the U.S.

“The actions taken by both the EU Commission and the OECD signal clearly that European countries are going to make substantive moves to clamp down on corporations shifting their profits into tax havens,” said Bob McIntyre, the director of Citizens for Tax Justice, a nonprofit analysis group. “The EU’s actions certainly show that the problem of offshore tax havens is one that can be dealt with. It remains to be seen whether Congress will follow the EU’s blueprint for action.”
Wondering what will be next tax haven.

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