The European Commission has today issued a press release confirming their finding that Ireland, granted undue tax benefits of up to €13 billion to Apple. This is illegal under EU state aid rules, because it allowed Apple to pay substantially less tax than other businesses. Ireland must now recover the illegal aid. Commissioner Margrethe Vestager, … More Ireland Must Recover 13 Billion Euros in Illegal State Aid to Apple.
The Q&A with me on Page 9 which covers the issues which have been brought into sharp focus by the theft of the ‘Panama Papers’ is set out below: IFC: As more IFCs sign up to FATCA & the OECD’s Automatic Exchange of Information Standard, do you see a fundamental shift in policy happening in the … More The Movement of Wealth, Transparency, the Right to Privacy…and More
“For its part, Ottawa must decide if and when it will introduce legislation to implement BEPS and, having regard to the international competitiveness of Canadian business, to what extent it will do so without firm commitments that our major trading and treaty partners will follow suit – in particular the United States, where the legislative … More Competitiveness, Tax and Unilateral State Action. A Canadian Perspective.
The U.S ranks 94th out of 100 on the Tax Attractiveness Index (TAI); is the worst performer of all G8 countries; and of its G20 colleagues, it only managed to out-rank Argentina, South Korea and Indonesia. Little wonder perhaps that U.S multinationals have found better tax planning opportunities in the index’s top 10 highest ranking … More Why America Might Need Our Sympathy.
Never mind the public grandstanding about tax havens, in the lead up to next week’s G8 Summit in Northern Ireland. To stay rich, not only do the world’s eight wealthiest countries want tax havens, they need them. By tax haven I do not mean a secrecy jurisdiction. Instead I am referring to a transparent, low or … More Why the G8 Needs Tax Havens.
(Knitted caps adorn fruit smoothies at the World Economic Forum in Davos) Speaking at the World Economic Forum in response to a question about whether the “enormous moral and public pressure to pay more tax” would discourage investment in the UK”, the UK Prime Minister called for more multilateral deals on automatic information exchange, including with developing … More Cameron Calls for Multilateral Deals on Automatic Exchange of Tax Information…And More!
Apparently, absolutely nothing according to Google’s Chairman Eric Schmidt –himself worth around £4.6billion. Unlike others, not only is he and his company unapologetic about the lucrative structure that saves them billions from their ‘tax’ shelter in Bermuda; he claims to suffer no ‘confusion’ about what capitalism is and the many government sanctioned incentives that allow … More So What’s Wrong with Capitalism Anyway?