STOP

138 • Fifty Shades of Tax Dodging
2015: http://www.ft.com/intl/cms/s/0/0e8ce3d0-1b63-11e5-8201-
cbdb03d71480.html?siteedition=uk#axzz3ftmzDEF8
1134. KPMG. (2015). Budget 2015: Diverted Profits Tax. Accessed 28 August
2015: http://www.kpmg.com/uk/en/issuesandinsights/articlespublications/pages/budget-2015-diverted-profits-tax.aspx
1135. Strategizing Multinational Tax Risks. (2015). UK diverted profit tax
(DPT): Start your engines. Published 30 March 2015. Accessed 28
August 2015: http://strategizingtaxrisks.com/2015/03/30/uk-divertedprofits-tax-dpt-start-your-engines/
1136. Guardian. (2015). Amazon to begin paying corporate tax on UK retail
sales. Published 23 May 2015. Accessed 28 August 2015: http://www.
theguardian.com/technology/2015/may/23/amazon-to-begin-payingcorporation-tax-on-uk-retail-sales
1137. Philip Baker QC, quoted in Guardian. (2015). UK tax policy dictated
by companies not ministers says leading treasury expert. Published
28 June 2015. Accessed 28 August 2015: http://www.theguardian.
com/global/2015/jun/28/uk-tax-policy-dictated-by-big-companies-not-ministers-treasury-adviser
1138. Office for Budget Responsibility. (2015). Devolved taxes forecast.
Economic and Fiscal Outlook series, Accessed 28 August 2015: http://
cdn.budgetresponsibility.independent.gov.uk/Devolved-taxes-forecast_180315.pdf
1139. Guardian. (2015) HMRC pushed HSBC Suisse clients to take lenient
settlement route, MPs told. Published 11 February 2015. Accessed 28
August 2015: http://www.theguardian.com/news/2015/feb/11/hmrc-lenient-settlement-route-hsbc-suisse-clients
1140. Guardian. (2015). HSBC files: UK tax officials under fire for allowing
payment amnesty. Published 1 May 2015. Accessed 28 August 2015:
http://www.theguardian.com/news/2015/may/01/hsbc-files-uk-taxofficials-under-fire-for-allowing-payment-amnesty
1141. UK Parliament. (2015). Tax avoidance and evasion: HSBC. Accessed 28
August 2015; http://www.parliament.uk/business/committees/committees-a-z/commons-select/public-accounts-committee/inquiries/
parliament-2010/tax-avoidance-evasion-hsbc/
1142. For details on the UK’s tax clearing system, see HM Revenue &
Customs. (2015). Seeking clearance or approval for a transaction. Accessed
28 August 2015: https://www.gov.uk/guidance/seeking-clearance-or-approval-for-a-transaction;
& David Gauke. (2015). Unpublished
letter to Alain Lamassoure, Chair of the European Parliament’s
special committee on tax rulings and measures similar in nature or
effect, dated 8 June 2015.
1143. European Commission. (2014). Statistics on APAs at the end of 2013,
DOC: JTPF/007/2014/EN. Accessed 28 August 2015: http://ec.europa.
eu/taxation_customs/resources/documents/taxation/company_tax/
transfer_pricing/forum/final_apa_statistics_2013_en.pdf. It should be
noted that the overview is incomplete as some important EU Member
States are not included, most notably the Netherlands, and there are
differences in definitions of APAs between some Member States.
1144. UK Government response to questionnaire
1145. Committee of Public Accounts. (2015). Tax avoidance: The role of large
accountancy firms (follow-up. Thirty-eighth Report of Session 2014-15.
Accessed 28 August 2015: http://www.publications.parliament.uk/pa/
cm201415/cmselect/cmpubacc/1057/1057.pdf
1146. Ibid – see recommendation 3.
1147. UK Government. (2015). Corporation tax: the patent box: https://www.
gov.uk/guidance/corporation-tax-the-patent-box
1148. The Guardian. (2014). Osborne’s patent box tax break policy likely to
divide G20. Published 17 September 2014: http://www.theguardian.
com/business/2014/sep/17/osborne-patent-box-tax-break-g20
1149. Germany-UK Statement. See: UK Government. Germany-UK joint
statement: Proposals for new rules for preferential IP regimes:
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/373135/GERMANY_UK_STATEMENT.pdf
1150. OECD/ G20. (2015). Action 5: Agreement on Modified Nexus Approach
for IP Regimes: http://www.oecd.org/ctp/beps-action-5-agreementon-modified-nexus-approach-for-ip-regimes.pdf
1151. UK Government response to questionnaire.
1152. UK Government. (2015). Tax Treaties. Accessed 28 August 2015: https://
www.gov.uk/government/collections/tax-treaties-signed-and-in-force
1153. UK Government. (2015). Guidance – Announcement by HMRC of the
UK’s tax treaty negotiating priorities for the year to 31 March 2015.
Last updated 6 January 2015. Accessed 28 August 2015: https://www.
gov.uk/government/publications/announcements-in-2014-of-changes-to-uk-double-taxatation-treaties/4hm-revenue-customs-hmrc-announces-details-of-the-uks-treaty-negotiating-priorities-for-theyear-to-31-march-2015
1154. G7 Germany. (2015). Leader’s declaration G7 summit, 7-8 June 2015.
Accessed 28 August 2015: https://www.g7germany.de/Content/
DE/_Anlagen/G8_G20/2015-06-08-g7-abschluss-eng.pdf?__blob=publicationFile&v=5
1155. Christian Aid. (2015). Christian Aid alarmed at G7 plan for compulsory
tax arbitration. Press release dated 9 June 2015. Accessed 28 August
2015: http://www.christianaid.org.uk/pressoffice/pressreleases/
june_2015/christian-aid-alarmed-at-g7-plan-for-compulsory-tax-arbitration.aspx
1156. UK Government. (2013). The Capital Requirements (Country-by-Country
Reporting) Regulations 2013, Statutory Instruments, 2013 No.3118:
http://www.legislation.gov.uk/uksi/2013/3118/pdfs/uksi_20133118_
en.pdf
1157. Christian Aid. (2015). HSBC is the UK’s most secretive bank, says
Christian Aid. Press release dated 21 April 2015. Accessed 28 August
2015: http://www.christianaid.org.uk/pressoffice/pressreleases/
april_2015/hsbc-is-the-uks-most-secretive-bank-says-christian-aid.
aspx
1158. UK Government. (2015). Country-by-country reporting, Finance Act
2015, Part 4, Section 122. Accessed 28 August 2015: http://www.legislation.gov.uk/ukpga/2015/11/section/122/enacted
1159. See https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/385161/TIIN_2150.pdf
1160. Conservative Party. (2015). The Conservative Party manifesto 2015:
https://www.conservatives.com/manifesto p.11.
1161. Christian Aid (2015): “Country by country reporting – A survey of
FTSE100 companies’ views”. Published 7 September 2015, Accessed 25
September 2015: http://www.christianaid.org.uk/images/country-bycountry-survey-sept-15.pdf
1162. STEP. (2015). Company beneficial ownership register to open
in April 2016. Published 15 January 2015. Accessed 28 August
2015: http://www.step.org/company-beneficial-ownership-register-open-april-2016
1163. EurActiv. (2014). Drive for EU public registers of company owners falls
short. Published 17 December 2014. Accessed 28 August 2015: http://
www.euractiv.com/sections/euro-finance/drive-eu-public-registerscompany-owners-falls-short-310901
1164. Ibid.
1165. OECD. (2013). Global Forum on Transparency and Exchange of
Information for Tax Purposes Peer Reviews: United Kingdom 2013:
http://www.keepeek.com/Digital-Asset-Management/oecd/taxation/
global-forum-on-transparency-and-exchange-of-information-for-
tax-purposes-peer-reviews-united-kingdom-2013_9789264205987-
en#page38 p.37.
1166. For example, former Nigerian President Sani Abacha, who held
funds in a trust in Guernsey. See US Justice Department. (2013).
Case 1:13-cv-018832-JDP, Document 1, Filed 18 November 2013.
Accessed 28 August 2015: http://www.justice.gov/iso/opa/resources/765201435135920471922.pdf.
In a review of about 150 grand corruption
cases it was found that trusts were involved in 15% of investigations.
In those cases where it was possible to establish the location of
the trusts, Jersey was among the top four jurisdictions. See Emile van
der Does et al. (2011). The Puppet Masters – How the corrupt use legal
structures to hide stolen assets and what to do about it. Stolen Asset