Links Apr 30

Luxembourg agrees to full automatic information exchange – removing obstacle on the path to beating tax fraud Tax Research UK

Austria Willing To Negotiate With EU On Banking Secrecy Tax-News

Austria: Tax fraud whistleblower says Innsbruck prosecutors hid data Austrian Times

Bank Secrecy law not important for over half Austrian Times

UN High Level Panel Chairman Visits Liberia allAfrica

Billionaire Dodges Argentina Tax Sending Cash to Holland Bloomberg

Wealthy Brazilians have 4th largest fortune in the world of tax havens Brasil Fator (In Portuguese)

Revealed: 'Sweetheart' tax deals each worth over £1bn The Guardian
See also:  How HMRC treated its Goldman Sachs tax deal whistleblower as a criminal

Russian Money Laundering in London - A Modern Morality Tale Rowan's Blog

UK companies accused of money laundering in Magnitsky probe The Telegraph

Cayman Joining G5 Multilateral Tax Information Exchange Pilot Caribbean Journal

UK's biggest taxpayer, John Caudwell, on tax avoidance BBC

Helsinki wants common EU criteria on tax fraud prevention Helsinki Times

JPMorgan Chase’s record highlights doubts about big banks’ devotion to fighting dirty money flows ICIJ

U.S.: IRS may be missing offshore tax evasion -government watchdog Reuters
To avoid steep penalties for offshore tax evasion, some taxpayers are making "quiet disclosures" to the IRS, reporting for the first time offshore accounts that could appear to the IRS as newly opened accounts.

FATCA Sets Stage for EU Clamp Down on Tax Evasion CFO Insight
Hat tip: Offshore Watch

Belgium Offers Diamond Traders Tax Amnesty Deal Rough & Polished
The most notorious scandal in Belgium involving taxes on the diamond business is dates back to 2011, when Antwerp tax authorities announced that 800 diamond traders hid incomes amounting to $ 1 billion in a Swiss branch of HSBC.

World Bank announces EUR 70 million project to overhaul Romania’s tax system Romania-Insider

Deutsche Bank's Fitschen: Zero Tolerance for Tax Evasion-Report Fox Business

Paulson Reinsurer Lags Peers in Sales in First Year Bloomberg
On avoiding taxes on hedge fund earnings by routing money through a reinsurer

Boston Business Breakfast on Sports Law this Thursday

I look forward to giving a talk at the Harvard Club in Boston this Thursday at 7:30 am.  It is for my alma mater, St. John's Prep, which I'm proud to say is also the alma mater of Notre Dame head football coach Brian Kelly (Class of 1979) and Penn State head football coach Bill O'Brien (Class of 1988).

I'll be discussing breaking issues in sports law, including the Boston Marathon bombings and the impact on stadium security.

Even if you are not an alum, but are interested in sports law, I hope you consider attending ($25/person):

Boston Business Breakfast

Michael McCann ’94 • Sports Law

• Thursday, May 2 at 7:30 am
• Downtown Harvard Club, 1 Federal Street
• $25 per person

Lance Armstrong was recently interviewed by Michael McCann '94 for Armstrong's first interview since his conversation with Oprah Winfrey. Join us for a unique opportunity to hear McCann speak at the Downtown Harvard Club on Thursday, May 2 at 7:30 am. A leading expert in sports law, McCann is a tenured professor at the University of New Hampshire School of Law, where he is founder and director of the Sports and Entertainment Law Institute. He is also Sports Illustrated's legal analyst, and serves as an on-air expert on sports law matters for CNN and NBA TV.  McCann is expected to discuss his interview with Armstrong and how Armstrong can defend lawsuits, various legal issues involving the NCAA and student-athletes, and select business and legal issues impacting the NBA, NFL, MLB and NHL. He will also discuss his coverage of the Boston Marathon bombings for Sports Illustrated and WEEI, and how the bombings will affect sports security.

For more information, click here.

Association Meeting Ideas for Local Chapters

Many of us belong to local chapters of national associations.  These area groups are often the life-line between the large national headquarters and the local members.  The annual meeting might be a great event to network and be seen, but not everyone can attend. 

Time, travel and money can keep some members from getting to the big events, and thus the local monthly gatherings are how many stay connected to the organizations they support.

However, the success of the local meetings can be hit or miss.  Some fall short of expectations for many in the membership.  Too often local chapters get stale and have the same format month in and month out.  It is not uncommon for the much of the target audience to develop a pre-conceived idea of what to expect from every local gathering.  When this happens it can taint the expectations and key members simply stop attending.

Local chapters of any national organizations can spark-up the meetings that local members attend, but only if those in charge are willing to think beyond the status quo.  It takes an investment of time (and sometimes money), but the end result will be a better educational and networking experience for everyone involved. Creating awesome local chapter meetings will drive membership and participation numbers and people will spread the word about the entire organization.

Three Tips For Better Local Chapter Meetings

1.  Change the format.  A luncheon with a speaker is the standard for a chapter meeting.  The format is often 30 minutes of networking with an hour for announcements and a talk by someone who is willing to speak without being paid.  Little attention is focused on how good the speaker is at presenting.  Instead the idea is on their title, company or topic.  

Too often little at these meetings serve the needs of the members.  The same agenda at the same location every time with a cookie cutter approach to speakers and your group is doomed to being dull.

Try exchanging lunch for some evening or morning events and host a special social reception at least once per year.  Additionally, create an advisory board of your most important members and have a dinner for them twice a year so that they can share best practices they see in other groups they participate in around your city.  This VIP dinner will also be the opportunity for you to discover what they would like to see in the future. The more ideas you hear, the better chance you will have of discovering new concepts that will work for your organization.

2.  Get great speakers.  This does NOT mean getting a list of local executives who have done cool things and inviting them to speak.  Instead, find people who not only have good experience, but that also are seasoned speakers. Speaking is a skill, and not everyone belongs on your stage.  

At least twice a year get special sponsors and bring in a speaker from out of town (and pay their fee).  Try to hire someone who will provide information and entertainment, and use the meeting as a recruitment tool.  I regularly hear from groups who say it is not possible to raise money for a special speaker, but I see other groups do this successfully year after year.  It takes effort to find the perfect speaker and to raise the money, but when done right it will have a lasting impact.

If you usually have industry specialists speak, try getting someone from a different field of expertise once a year.  Make one or more of your meetings a panel discussion.  Do not be afraid of getting an author or professional speaker from outside your industry, as their point of view might be just what your audience needs.  

It is also a good idea to have one meeting without a speaker, and let the audience share their thoughts.  Your members are experts, give them the chance to be heard.  But this will require a good facilitator who can keep the meeting running smoothly and limit any one person from dominating the conversation.  These types of town hall conversations can make more people feel included and the power of the information will surprise you.

3.  Host an event in someones home.  Many groups meet in hotel ballrooms or restaurant private dining areas.  While these are the best options for most regular meetings, hosting a special holiday reception or other VIP event at the home of a member can create a unique experience.  Parties in a private home have a more intimate feel than those in traditional venues, and this allows people to bond in a different and more casual manner.

If someone on your board is willing to host a special event, the organization can take care of the catering and hiring servers to help with clean up, etc....  You may want to limit such an event to members only or otherwise have a VIP event where it is invite only, but this type of special meeting can create a one of a kind evening.

Trying new things is the only way to keep your local chapter fresh.  If your organization is always following the same calendar, your members might find your agenda boring.  Boring meetings are never remembered.  If all your events are quickly forgotten, you members might forget to renew when it is time for their dues to be paid.

Trying new meeting formats involves some risk.  But risk is part of success.  If you are willing to shake things up, in the long run you will have a better organization that will attract new members.  If you are stale, you know what happens (and it is not good).

Have A Great Day

thom singer

UK's NPower: pay your taxes

The UK's Sun newspaper has an article entitled Watt? No Tax? Npower avoids paying £108m to HMRC by funnelling massive sum to German owners via Malta.

As the Sun summarises:

"Energy giant npower has dodged paying up to £108 million in UK corporation tax in the past four years — by funnelling cash to Malta.
. . .
[The revelations] will infuriate the company’s near seven million customers who are receiving record bills."

TJN's Richard Murphy helped the Sun with this story, and he's followed up with a series of blogs:

NPower’s defence for tax avoidance is ridiculous: why can’t they just tell us what they’re doing?

Why Npower’s tax avoidance matters

Npower is avoiding tax despite all their claims to the contrary

And now the campaign organisation 38 Degrees have a petition entitled NPower: Pay your fair share.

Please sign it, and pass it on.

Jeff Sachs in FT: The havens serve countless purposes; not one is for the social good

Jeffrey Sachs has an excellent article in the Financial Times this morning, entitled Austerity exposes the global threat from tax havens. A very apt title it is too.

Tax Justice issues is now being taken seriously by mainsream economists (also see this), other academics, geographers, lawyers, environmental campaigners, people interested in international development (and this latest article about Africa from Richard Dowden is a good one) - you name the field, and there are almost certainly a bunch of its brightest stars diving in. We've been told recently that in Westminster (a term taken to refer to the goldfish bowl of British national politics) a realisation has sunk in that 'tax justice is now a talking point in pubs' - which is, we think, some kind of tipping point, and it's having an effect (with this just one of many recent examples).

Anyway, back to Sachs.

"How much tax revenue is lost to the global havens? Here, too, we can only guess but the numbers are likely to be vast. Recent estimates by the Tax Justice Network suggest that deposits are in the range of $21tn."

Indeed, and those estimates, and all supporting documentation, are here. And now Sachs sticks his neck out:

"The havens serve countless purposes, yet not one is for the social good."

We can just imagine Mr. Angry in the Cayman Islands firing off furious, fiery fusillades to the FT to follow this one. He probably will, too. But Sachs is absolutely right here.

All the supposedly helpful facilities provided by tax havens could be provided in other ways, but without the collateral damage that inevitable comes as part of the package - and most of those 'benefits' turn out not to be so beneficial after all, once you unpack what is really happening. We have made versions of this point many, many times in the past; perhaps the most comprehensive collection of these points is available in a page entitled "Tax havens’ arguments in their defence – and why they are wrong."

He identifies the UK, the US and Switzerland as the top three players in the system - that's spot on, in our subjective judgement, even though our Financial Secrecy Index, which takes a more pernickety number-crunching approach, puts Luxembourg at Number 3.

And he identifies systemic risks to the global economy posed by tax havens. Quite so, indeed. And a whole lot more on that particular subject, here.

We haven't always agreed with everything Sachs has said. But on our home turf, we are in full agreement. Read the rest of the FT article here.

Transfer pricing: vote TJN!

Elections are upon us.  TJN has been nominated as a leading force in global transfer pricing.  This is your chance to vote in support of our work to promote an alternative way of taxing multinational companies.  Vote here

With particular thanks to Prof. Sol Picciotto for spearheading our recent work on this. And here is the basis for TJN's nomination:

While we agree that some tax practitioners don't support unitary taxation (one might well note they have a vested interest in the status quo) others do, and the Financial Times editorial on 29th April comments as follows:

"Thus far, the problem (of tax avoidance) has been delegated to the OECD, which is seeking to tighten rules on transfer pricing...  But it is questionable whether a few tweaks will be enought to stop multinationals from making corporation tax liabilities evaporate, and countries from competing to offer tax loopholes to footloose multinationals....  The most ambitious solution would be to agree a common consolidated corporate tax base.  This would have states tax a mutually agreed share of a multinational's proftis, not just the share the group decides to account for in each jurisdiction."

We are not alone in arguing that this is the logical direction of travel for corporate taxation.  Rather than spend endless years of committee time trying to stitch Humpty-Dumpty (a.k.a. the arm's length method) into a half workable model, now is the time to strike out in a new direction fit for the 21st century.
Don't delay; vote now for TJN.  You know it makes sense.

NBA player comes out--Now what?

Sports Illustrated has the story of Jason Collins, a Stanford grad, 12-year NBA veteran, and current free agent (he spent the past year with the Celtics and Wizards) coming out publicly (he came out to his family last summer). Submitted without comment, other than to not that while this is not a star player in the prime of his career, it is a big step in that direction.

Links Apr 29

Austria Yields to EU Savings-Tax Talks as Bank Secrecy Wobbles BloombergBusinessweek
See also comment on Tax Research UK The direction of travel is clear: the fight against tax fraud is gaining momentum and that’s vital for the well-being of us all

Banking secrecy remains in Europe for now Der Standard (In German)
Commenting that after Austria ceding on bank secrecy, the way is cleared for the EU to demand transparency from Andorra, San Marino, Liechtenstein, Monaco and Switzerland.

US authorities keep up pressure on Swiss banks swissinfo

German tax evasion Uli, Uli, Uli The Economist
Secret Swiss bank accounts suddenly have a famous face

Billionaires Flee Havens as Trillions Pursued Offshore BloombergBusinessweek

MNCs parking profits in tax havens a challenge for I-T Dept: Pranab The Hindu Business Line

Irish Revenue focuses on 200 Irish investors in tax avoidance probe Independent
More than 200 wealthy Irish investors are being investigated by the Revenue as part of a probe into a major offshore tax avoidance scheme

Irish Revenue Officials still chasing Ansbacher account holders Independent
On the Ansbacher controversy with its offshore trusts, foreign-registered companies and secret ledgers

The FT’s finally caught on to the fact that the Netherlands is a tax haven: better late than never Tax Research UK

UK MP Margaret Hodge: 'The tax you owe is a duty. It's an obligation' The Guardian

PwC created 'extraordinary' structure 'to avoid tax on UK properties', say MPs The Guardian

Ban 'insider' tax accountants from government - MPs BBC

Tony Blair, a £400,000 payday and a luxury stay at taxpayers’ expense The Independent

Starbucks posts higher-than-expected earnings as it argues for tax breaks The Guardian

Coffee giant's revenue climbs 11% in first quarter as reports circulate it is trying to expand US tax breaks on foreign profits

Wealthiest Americans Only Winners in Recovery, Pew Says Bloomberg

Zimbabwe could tax mining sector to fund July elections Mining Weekly

Lobbyists are power and are markets Gran Canaria Actualidad (In Spanish

Speaker Mastermind Meet Up

It is not a secret that I credit part of my success as a professional speaker to my involvement with the National Speakers  Association.  It is not that the association itself does anything that directly brings me business, but I have had the opportunity to meet so many talented professionals at all levels of experience, that I have become a better speaker, a better business owner, and a better person from what my peers consistently teach me.

In addition to my participation in the national association, I am involved with the Austin Chapter of NSA, and I am on the board of a "virtual chapter" within NSA called "NSA XY" (we are not officially recognized as a chapter, but we operate in a similar manner).  The XY group is made up of speakers born in 1964 or later (and while some like to say it is a group of "younger speakers", the oldest in our group are quickly approaching 50-years-old - so it is NOT about age!).

Recently the NSA XY hosted a "Meet Up".  These informal day-long gatherings have been held from time to time around  the country for several years (with the majority of them being held in Chicago).  The purpose of a Meet Up is to bring together speakers to share best practices, engage in discussions about the business, and brainstorm ideas to help each other expand business.  It is also about friendships.  Speaking can be a lonely profession, as no two speakers I know have identical business models.  We work alone, travel alone, and often only see the industry from our own lonely vantage point.  For those of us who have forged connections with other speakers, we see the network as a powerful tool to stay informed and a way to push forward to the cutting edge.

Having never before attended a Meet Up, I was not sure what to expect.  Some of my peers (mainly non-NSA speakers) question what I can gain from spending time with other speakers?  Since many in attendance were already friends, would it be too social?  Was there any way to measure success?  

WOW is the only word I have to describe the experience.  I not only got to learn from my peers, but the group helped me clarify an idea for a new program that closely aligns with my experience and my passion.  Alone I had spent weeks trying to shake out the specifics for a new topic, and together we came up with the idea in twenty minutes.  This is the power of being open to coaching, but also it was a powerful exercise in how people can accomplish more together than alone.

No matter what your industry, I encourage you to get involved in an association of your peers.  Too many people sneer at their competition, but my experience show that those who share your path can be the best asset in your future success.

There were 12 speakers involved in this day-long mastermind session.  I encourage anyone who reads this blog post to click on each of the names below.... as it will expose you to some incredible people who are doing great things.  If you are looking to hire a speaker, anyone of them would be a wise choice.... as they are more than "experts", they are speakers who are dedicated to their craft.  

Craig Price

Mike Dilbeck

Jessica Pettitt

Thom Singer
Michele Payn-Knoper
Eliz Green
Patty Hendrickson
Phil Gerbyshak
Ben Neiburger
Chip Lutz
Sarah Beth Aubrey
Gerry O'Brion

Have A Great Day

thom singer

"Pros or Cons" Thoughts For The Modern "Sports Attorney" - Part II

Sports Law Blog is publishing a 5-part series on the practice of sports law.  The series is co-authored by Peter Jarvis, a legal ethics and professional responsibility attorney with Hinshaw & Culbertson, LLP in Portland, Oregon and Jason Davis, a California attorney currently residing in Seattle, Washington.  These posts will appear on Saturdays.   The first one is available at this link.  Here is the second one:

---------------------------------------------------------------------------------------------------------------------------

"Pros or Cons" Thoughts For The Modern "Sports Attorney"

Authored by Jason A. Davis, Esq. and Peter R. Jarvis, Esq. (all rights reserved)

( jason.a.davis.esq@gmail.com, @JasonDavisEsq1 & pjarvis@hinshawlaw.com)

(ARTICLE #2)

Home Field Advantage? (Choice of Ethics Law)

As a general proposition, an attorney who is licensed and practices only in one state will be governed by the Rules of Professional Conduct, or RPCs, of that state. When, however, an attorney is licensed in more than one state or the attorney's practice crosses state lines, the picture gets more complex. Of course, an attorney receives and maintains the ability to practice law by virtue of the licensing authority of the jurisdiction(s) in which the attorney is licensed. When the rules of the various jurisdictions are the same, this does not matter. But what if they are different? Which set(s) of ethical rules govern which of the attorney's actions?

In our first segment, we introduced Attorney Al, who is licensed in both New Jersey and New York. Which state's Rules govern Al's representation of his client Mega Star? Fortunately, RPC 8.5 of these two states are substantially similar to each other and to the equivalent ABA Model Rule. New Jersey's RPC 8.5, which is identical to ABA Model Rule 8.5, state in pertinent part:

Rule 8.5 Disciplinary Authority; Choice Of Law

(a) Disciplinary Authority. A lawyer admitted to practice in this jurisdiction is subject to the disciplinary authority of this jurisdiction, regardless of where the lawyer's conduct occurs. (...) A lawyer may be subject to the disciplinary authority of both this jurisdiction and another jurisdiction for the same conduct. (Emphasis added)

(b)(2) for [conduct not involving litigation], the rules of the jurisdiction in which the lawyer’s conduct occurred, or, if the predominant effect of the conduct is in a different jurisdiction, the rules of that jurisdiction shall be applied to the conduct. A lawyer shall not be subject to discipline if the lawyer’s conduct conforms to the rules of a jurisdiction in which the lawyer reasonably believes the predominant effect of the lawyer’s conduct will occur. (Emphasis added)

New York's Rule 8.5 varies at (2)(ii) in that if the lawyer is licensed to practice in New York “and another jurisdiction, the rules to be applied shall be the rules of the admitting jurisdiction in which the lawyer principally practices; provided, however, that if particular conduct clearly has its predominant effect in another jurisdiction in which the lawyer is licensed to practice, the rules of that jurisdiction shall be applied to that conduct.” (Emphasis added)

Depending at least in part upon Al's geographic location at the time of this work, one could theoretically pick New York, New Jersey, California or Texas as the location where most of Al's conduct in aid of the representation occurred. And looking at the location of "predominant effect" may not provide a clear answer. Is it New York, because that is where Mega now lives? In California or Texas if he signs with either of those teams? As will be noted, at least the New Jersey rule provides, as a safe harbor, that Al need only conform his conduct to the rules of a state which he reasonably believes is the state of predominant effect.

But if, say, the predominant effect is in a state in which Al is not licensed, will he be subject to discipline or prosecution for the Unauthorized Practice of Law? This topic to be continued . . .

 

Cool Things My Friends Do - Jessica Pettitt at Dartmouth College

Each Friday on this blog I enjoy highlighting some of the cool things my friends do in their work and professional lives.

Dartmouth College canceled classes this Wednesday (April 24, 2013) because of issues around social justice and threats of violence following protests. My friend (and fellow speaker and NSA XY board member) Jessica Pettitt was brought to campus by the administration to address the entire student body and start a healthy dialogue.

Jessica is a professional speaker who specializes in social justice and diversity issues. She regularly speaks on college campuses and consults with corporations on issues surrounding tolerance and acceptance for EVERYONE in the education and work environments.  Jess is an amazing speaker who can captivate an audience while educating them on this very important topic.  (I am still waiting to find a link to the video from the Dartmouth presentation... when it is posted I will share it).

Her workshops, trainings, and keynotes take participants on a journey weaving together politics, theory, current events, and storytelling with large doses of humor.  Plus she make you think.

The presentation at Dartmouth was standing room only and was broadcast across campus (and I hear she got a roaring standing ovation!!!).  Read more about this event in the school's student newspaper; The Dartmouth. I have read comments about how wonderful her presentation was, and how it got the many in the student body to rethink how they will approach issues with those whom they disagree.

I love seeing my friends do such cool things!!!  Great Job, Jess.

Have A Great Day

thom singer

Links Apr 26

Resolution on Illicit Capital Flight from Africa African Commission on Human and Peoples' Rights

Cameron, EU officials say time for curbs on tax evasion is now Reuters
Britain's Prime Minister called on the EU to use the impetus of the G8 summit in June to organise "radical" international action to crack down on tax evasion and avoidance. See also: Cameron Sets Out Case For Global Anti-Avoidance Action Tax-News

Global Witness welcomes UK Prime Minister’s move to end anonymous shell companies

France, Germany Seek Tougher AML Regulations Tax-News
Germany and France have called for European anti-money laundering regulations to be toughened, as part of efforts to clamp down on tax evasion.

Swiss Banks 'Plundering German Treasury' Der Spiegel

Global Witness welcomes UK's Serious Fraud Office announcement of formal investigation into Eurasian Natural Resources Corporation (ENRC)
ENRC made large payments to offshore companies to purchase prize mining assets in Congo. The structure of these deals has meant that the Congo, which has the lowest GDP per capita in the world, may have foregone hundreds of millions of dollars in revenue.

Through the G8, Canada can help Africa fight corruption The Globe and Mail
Canada isn’t only the G8’s key resource economy; it also co-chairs the G20 Anti-Corruption Working Group.

Era of Big Oil Secrecy is Over Brookings

Mexico Hikes Royalties Tax On Mining Tax-News

Nigeria: Tax Evasion: Lagos Sues 20 Companies PM News

Developing countries have been suffering the effects of aggressive tax avoidance for decades This is Money

US Lets Swiss Banks, Accused of Aiding Tax Fraud, Avoid Prosecution with Fines The Real News
Interview with James Henry, lead researcher of The Price of Offshore Revisited

Europe continues to take notice and action after ICIJ 'Secrecy for Sale' investigation The Center for Public Integrity

'Big four' accountants 'use knowledge of Treasury to help rich avoid tax' The Guardian

Govt: Bermuda to help UK target tax evaders, fraud The Royal Gazette

Tax Avoidance: The Hidden Cost BBC Radio 4

Widow Gets Less Than Minute of Probation in U.S. Tax Case BloombergBusinessweek

See also: From 2 tax-evasion sentences, a lesson comes USA Today

The False Claims Act Complaints Against Lance Armstrong

The government this week filed its complaint in the False Claims Act case against Lance Armstrong.  The US annouced it would be joining the lawsuit, filed by "whistleblower" Floyd Landis, back in February.

The government's complaint is available here.

The second amended complaint submitted by Landis, the "relator", is available here, and his original 2010 complaint here.  The Landis complaint, though long the subject of rumor, only became public in January after the seal required in filing FCA whistleblower actions was lifted.

Back in 2010, I identified one issue in the rumored case as being the need to demonstrate a false claim submitted to the government.  The government has asserted both false claims and "reverse false claims" to meet that piece of the statute.

Lance's $125 million personal fortune is on the line. In February, I predicted that Armstrong's public pseudo-mea culpa meant he was prepared to settle the FCA case.  No sign yet that a settlement has been reached.

Links Apr 25

On Taxes, Trade, Transparency—and Turf Center for Global Development
On action by the G8 and the G20 on tax havens.

G20 makes progress on bank secrecy, but much remains to be done TJN Latin America and Caribbean (In Spanish)

The End of Bank Secrecy? An Evaluation of the G20 Tax Haven Crackdown
New study - the first attempt to assess how bilateral treaties affected bank deposits in tax havens - lends support to a multilateral agreement on tax havens. Rather than repatriating funds, the results suggest that tax evaders shifted deposits to havens not covered by a treaty with their home country. See also comment on Task Force blog.

EU seeks quick deal on tax transparency EU Observer
A letter from Irish finance minister Michael Noonan and EU tax commissioner Algirdas Semeta, sent to national capitals, called on governments to agree on automatic information exchange and tax savings rules.

European Commission Moves Ahead on Tax Avoidance Crackdown Compliance Week

European Commission Vows to Keep Up Pressure on Austria to End Bank Secrecy The Wall Street Journal

IMF and World Bank hold their Spring Meetings making gloomy days for development Eurodad

Pakistan: Taxation of money kept in Swiss banks proposed Business Recorder
See also further comment in Banking Secrecy

France Mulls Anti-Tax Evasion Bill Tax-News

Bankrupt Swedish Tycoon Had Fortune Stashed in South Pacific ICIJ

Philippines: Presidential Commission on Good Government keeps Imee's account report secret Manila Bulletin

Bank of Ireland loses £30m court battle with HMRC over tax avoidance 'loophole' The Independent

Why aren’t Barclays and HSBC willing to say why they’re not paying a fair share of their taxes in the UK? Tax Research

Bringing Amazon to book: 160,000 sign independent shops petition amid tax anger The Independent

Inside Story: The US Tax Trick Al Jazeera

Executive-Pay Tax Break Saved Fortune 500 Corporations $27 Billion Over the Past Three Years Citizens for Tax Justice

Caymans And BVI Sign Up For FATCA iExpats

Links from the TJN Germany Blog

A fairer society needs fairer taxation The Guardian

Links Apr 24

Africa: Tax Havens and Africa - Will the G8 Deal With the Real Issue? AllAfrica

Corrupt Angola debt deal exposes EU tax havens EurActiv
Millions of dollars were transferred through banks based in Switzerland, Luxembourg, Cyprus, the Netherlands, the British Virgin Islands and the Isle of Man to the benefit of powerful Angolan and Russian figures

Is the OECD about to fail to address tax abuse, yet again? The omens are not good Tax Research UK

Bahamas' 27 Tax Deals Face New G-20 Pressures Tribune242
" ... our ultimate fate will continue to depend on how we adjust our business model to meet the needs of the international community in an environment of cross-border co-operation and automatic exchange of information".

EU tells neighbours tax "transparency" is way forward Europe Online Magazine

EC steps up its bid to halt tax evasion Irish Examiner

Finnish Finance Minister Calls State-Owned Postal Company’s Links to Tax Havens 'Repulsive' ICIJ

Dozens of Korean names in leaked data on tax havens: ICIJ Yonhap New Agency

Tax havens are key to many tax evasion schemes - Russian Audit Chamber  RAPSI - Russian Legal Information Agency

Moscow court issues arrest warrant for Magnitsky’s boss Browder RT

Spain ‘focused’ on Gibraltar tax regime Gibraltar Chronicle

Singapore the new Switzerland? Rich turn to Asian havens Crikey / SmartCompany

Swiss bank EFG International's UK arm fined for lax money-laundering checks The Guardian
EFG is the third bank to be penalised in the UK over money-laundering controls

France probes HSBC tax fraud claims Telegraph

Germany's Opposition Challenge Tax Amnesty Regulation Tax-News

Top soccer manager's secret Swiss account stuns Germany Reuters

Grammy-winning singer Lauryn Hill scolded by judge as sentencing in tax case delayed The Times-Picayune

Italy Minister Used Offshore Funds to Buy Home, Il Sole Says Bloomberg BusinessWeek
Reporting on tax dodging by Italian Finance Minister Vittorio Grilli, who has "led a crackdown on tax evasion"

Bilalov suspected of organizing large-scale tax evasion scheme with hajj tours interfax
Ex-President of the Russian Olympic Committee Akhmed Bilalov is suspected of tax evasion through a travel agency organizing Muslim pilgrimage tours.

Distressed loan investors see buried treasure in Puerto Rico’s tax haven Financial Times

Speakers: The Stories You Tell Take The Audience On A Journey

While in New Orleans to be the keynote speakers for a business conference, I had the opportunity to join some of the folks from the meeting at the New Orleans School of Cooking.  The private class was set up as one of the activity choices for those in attendance, and it was a GREAT experience.  While I do not always go on these outings at conventions, this one seemed especially appealing.

The woman who taught the class, Harriet Robins, was a local woman who grew up cooking in the New Orleans styles of Cajun and Creole.  She was also half Irish, and the mix not only lead to good food, but she was a delightful instructor who ensured that everyone had a great time in her class.  She was not just a cook, or a cooking teacher... she was a delightful presenter who genuinely cared about her audience.

The demonstration included the How-To's on how to prepare Shrimp Creole, Corn & Crab Bisque, Pralines, and Bananas Foster.  Yet beyond the food, it was how she drew the audience in with her personal and professional stories that made the impact.  It was not just a list of ingredients in a recipe, her class was a shared adventure between teacher and students because of the tales she told.

Much is discussed in the "Meetings Industry" when it comes to educational presentations about "CONTENT, CONTENT, CONTENT". Too many keep yelling that "Content is King"..... But the unforgettable speakers who have a lasting impact also have a style when they speak that draws in the audience.  They also tell stories.  Harriet could have simply taught us how to prepare the food (AKA: content), but instead she took us on a culinary journey through the history of her life and the life of her local ancestors as she taught about all that went into each dish (style and content together make a presentation.  One or the other alone is not enough).

Never let anyone tell you a real experience (at a cooking class, business conference, or anywhere in life) is only about content, as I see lots of people dump important data, but few will I write about on this blog and sing their praises.  Harriet deserves to be highlighted, as she gave 100% to this class over a 2 hour period.  It was a "WOW".

The next time you deliver a presentation.... ask yourself if you are going all the way to share from the heart, and that you are going farther than the content alone in your delivery.  Touch the soul of the audience beyond the data you intend to teach.  Tell the stories that will make people believe and they will do more than learn -- they will be inspired!!!

Have A Great Day

thom singer

Links Apr 23

OECD Claims Tax Transparency Advances Tax-News

Kenya: Karuturi guilty of tax evasion
Global flower industry giant found breaking the law in Kenya

Thailand: Growing interest in transfer-pricing tax avoidance could lead to costly audits The Nation
Hat tip: Offshore Watch

BVI Refutes Tax Evasion, Data Leak Claims Tax-News
More on the theme of We Are Not a Tax Haven

Clock ticks on Swiss banking secrecy swissinfo

Austrians Disagree with Government on Banking Secrecy naharnet

Schäuble does not do what he says, Attac, TJN and Transparency Germany call for the end of anonymous shell companies TJN Germany Blog (In German)

New basis for negotiating tax treaties: Developing countries remain outside TJN Germany Blog (In German)

U.S.: Why is Treasury Protecting Tax Havens for Multinationals? Huffington Post

U.S.: Banker Groups Sue Treasury, IRS Over Account Reporting Rule Bloomberg

Tax havens unfair to small businesses The Washington Post

UK: Classic FM, Capital and Heart Radio owners pay no UK tax after sending millions offshore Corporate Watch

We pay £6m tax on £2.6bn UK profits, but that's OK because we help start-ups: Google boss Eric Schmidt under fire over comments on corporate tax The Independent

South Sudan’s oil production restarts amid concerns about transparency Global Witness

Damning video and contracts show BSGR was lying in Guinea mining scandal Global Witness

Our Computer Algorithm Appreciates Your Service

A man gets an email celebrating 15 years that he has worked with his company.  The text of the email praises his service to the organization and lets him know that the business appreciates all that he does.

The last line of the email reads:

"This email was computer generated; please do not reply"

What?  Ummm?  Huhhhh?  

Yep, thank you for your service.  We have created a computer algorithm that will send out this message to those who reach important milestones, but also to ensure that neither your supervisor nor anyone in human resources will not have to be bothered with acknowledging you on the anniversary of this important day.

The above quote is from a real email that was shared with me by a gentleman who received this message recently.  He understands that a company with 40,000 employees worldwide has some limitations on how personal they can be with each interaction, but the last line left him cold.

I agree.  We are all actively seeking ways to shortcut the human-to-human connections and streamline our business relationships... but you cannot outsource a meaningful interaction.  We do this too often within our  social media usage, believing that a "link", a "share", a "like" or a "follow" is equal to a friendship.  It isn't.

Think about this at home --- would you outsource bedtime stories for your children to a computer?  Imagine a 4-year-old girl going to her room and a monitor lights up with a narration of a fairy-tale followed by a message reminding the kid that the story was computer generated, and to go to sleep immediately without bothering a parent?  Sound pretty bad.  While I am not comparing business professionals to 4-year-olds, at any age we all still long for the personal touch.  Real connections sill matter.  

Saving time and automation are wonderful.  Yet, when it those on the receiving end realize there is no effort involved, it limits the effectiveness of the gesture.  

Have A Great Day.

thom singer

April 2013 Taxcast

In April 2013's Taxcast: 'offshore leaks' blows the lid off secrecy for sale, the G20 endorse greater transparency (but let's not get too excited), Luxembourg agrees to lift its banking secrecy, Austria next? And the Taxcast goes to India and takes a look at fake foreign direct investment.

Download the Taxcast from Tackle Tax Havens here

Or download it on iTunes here

Links Apr 22

The G20 gives another win to tax justice – automatic information exchange is now the required standard to beat tax evasion Tax Research UK

Richard Murphy reports on very good news from the the G20 Finance Ministers’ Communiqué

See also:
G-20 Pushes for Measures to End Tax Evasion The New York Times and G20 pushes tax data exchange, Swiss seen as laggards Reuters

And more good news:
Even the Bank for International Settlements is now calling for country-by-country reporting Tax Research UK

Ex-HSBC man says US advised him to go to Spain swissinfo
More on the story of former HSBC Geneva employee Hervé Falciani, accused of stealing banking data - says he was told by US Justice Department officials to head for Spain as his life was at risk. See also: "Swiss banks are the enemy" accordiing to Hervé Falciani RTS (In French)

Environmental tax reform in countries of the South Tax Justice Network Germany (In German, and with English version of the policy brief)

U.S.: Video Game and Tax Day Actions Target Corporate "Tax Evaders" The Real News
Interview with TJN-USA's Nicole Tichon. See also video Tax Evaders: The Invasion Begins and Tax Evaders Video Game Sheds Interactive Light On Corporate Greed Forbes

The pressure must be constant Le Courrier (In French)
Interview with TJN's John Christensen on the Cahuzac affair and its consequences

Cyprus Crisis Prompts Russia to Create its Own Tax Haven The Market Oracle

India: Information sharing with foreign countries may help tackle black money Business Standard

South Korea: Money remittance into tax havens tops $1.6 bln in 2012 Yonhap News Agency

Singapore Will Replace Switzerland as Wealth Capital CNBC

Few in Ireland benefit from tax haven status Al Jazeera
See also: Firms enjoy tax haven in bankrupt Ireland

German Regulator to Examine Banks’ Business in Tax Havens Bloomberg

Greek ex-minister's money laundering trial opens in Athens Global Post

Onshore and offshore realms equally secretive in Greece ICIJ Blog

Tax havens - infographics
ICIJ is gathering infographics from around the world to help illuminate the topic

Google boss defends UK tax record to BBC

UK: Negligence claims rise following tax avoidance crackdown The Global Legal Post

How We Do Our Corporate Tax Research Citizens for Tax Justice

Jeffrey Sachs Calls Out Wall Street Criminality and Pathological Greed naked capitalism

Hedge funds: Launch bad The Economist
Breaking into the hedge-fund world is harder than before