Queries raised via Institute of Economic Affairs over Oxfam's tax practices
In the wake of Oxfam organising a letter, with signatures of 300 economists, calling for a crackdown on tax avoidance, the charity has been accused by industry bodies for tax practices resembling avoidance.
Tax specialist Richard Teather writes for the Institute of Economic Affairs, drawing attention to Oxfam's business model. He suggests that charities running operations through separate companies, and claiming tax relief, are in themselves tax avoidance.
Google's Paris offices raided in midst of tax probe
As reported by BBC News, amongst others, Google's Paris office has been raided by French finance officials as part of a tax fraud investigation. Google is accused of owing '1.6bn ($1.8bn; £1.3bn) in unpaid taxes.
The raid comes as part of an ongoing scrutiny into how international corporations report their tax payments ' as the Guardian reported on Facebook's tax affairs in March.
BNP Paribas planning to close Cayman operations
As reported on Reuters BBC News, via the Association for the Taxation of financial Transactions and Aid to Citizens, BNP Paribas intends to close its remaining business in the Cayman Islands, in the wake of the Panama Papers.
The article notes that earlier in May, the United Nations named the Cayman Islands along with the British Virgin Islands as British tax havens that had received some $72 billion (50 billion pounds) of company funds last year.
George Osborne praises Cayman's leading efforts in tax transparency
UK Chancellor of the Exchequer George Osborne has commended Cayman's tax transparency efforts and welcomed its participation in the discussion for the development and subsequent implementation of a global standard for the sharing of beneficial ownership information.
Reporting via BBC News, Cayman Reporter explained that Osborne had highlighted Cayman's "lead on global transparency as a cooperative jurisdiction". This came through a letter dated 10 May and ahead of Premier Hon Alden McLaughlin and Financial Minister Hon Wayne Panton's attendance at the UK's 12 May Anti-Corruption Summit in London.
CDOT Anti-Corruption Summit invitees revealed
Conservative MP Mark Menzies asked the following question in Parliament:
Mark Menzies: Which British Overseas Territories and Crown Dependencies were invited to the UK Anti-Corruption Summit on 12 May 2016.
Matthew Hancock: Bermuda, Cayman Islands, Jersey, Isle of Man and Gibraltar were invited to the Anti-Corruption Summit.
Events coming up:
OECD's proposals and the impact profit shifting is having on their businesses, All Party Parliamentary Group on Responsible Tax, 11.30am 14th June
Location: Committee Room 5, House of Commons, SW1A 0AA. Sign up here
Attendees giving evidence and sharing their thoughts include:
Is business paying its fair share of tax?, ICAEW, 5.00pm 14th June
Location: One Whitehall Place, London, 2 Whitehall Court, SW1A 2EJ
Information can be found via: here