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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 Unpublished letter to Alain Lamassoure, Chair of the European Parliament’s special committee on tax rulings and measures similar in nature or effect, dated 8 June 2015.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
Fifty Shades of Tax Dodging • 139 Recovery Initiative, Washington DC: International Bank for Reconstruction and Development, p.44-45. 1167. Financial Times. (2015). UK ‘non-doms’ urged to step up offshore tax plans. Published 19 May 2015. Accessed 28 August 2015: http://www. ft.com/intl/cms/s/0/603e8076-fe30-11e4-8efb-00144feabdc0.html#axzz3anZj1uso 1168. Christian Aid & Global Witness. (2014). Overseas territories and crown dependencies beneficial ownership scorecard. Accessed 28 August 2015: http://www.christianaid.org.uk/Images/beneficial-ownership-scorecard-november-2014.pdf 1169. Jersey Finance. (2015). Letter from Jersey’s Chief Minister’s Department to Jersey Finance regarding the EU’s fourth anti-money laundering directive. Published 15 January 2015. Accessed 28 August 2015: http://www.jerseyfinance.je/media/Technical%20 -%20General%20Public%20Access%20Documents/Fourth%20 Money%20Laundering%20Directive%2015.1.2015.pdf?utm_medium=email&utm_campaign=January+2015+Technical+Update&utm_ content=January+2015+Technical+Update+CID_44951b49afef- 4f3de14bcf4526e972ce&utm_source=JFL%20email%20 communications&utm_term=a%20Summary 1170. Independent. (2015). EU referendum ‘within a year’: David Cameron fast-tracks vote on Britain’s membership of European Union to June 26. Published 25 July 2015. Accessed 28 August 2015: http://www. independent.co.uk/news/uk/politics/eu-referendum-david-cameron-fasttracks-vote-on-britains-membership-of-european-union-to-june-2016-10416200.html 1171. Guardian. (2015). UK to reject EU plans to combat multinational tax avoidance. Published 18 June 2015, Accessed 28 August 2015: http:// www.theguardian.com/world/2015/jun/18/uk-reject-eu-plans-combat-multinational-tax-avoidance 1172. Guardian. (2015). Glee, relief and regret: Addis Ababa outcome receives mixed reception. Published 16 July 2015, Accessed 28 August 2015: http://www.theguardian.com/global-development/2015/jul/16/ outcome-document-addis-ababa-ffd3-financing-for-development 1173. UK Government response to questionnaire. 1174. Bundesministerium fur Wirtschaftliche Zusammenarbeit und Entwicklung. (2015). Financing for Development Conference – The Addis Tax Initiative – Declaration. Accessed 28 August 2015: http://www.bmz.de/ de/zentrales_downloadarchiv/Presse/Addis_Tax_Initiative_Declaration.pdf 1175. Ibid, commitment 3, p.3. 1176. Conservative Party. (2015). The Conservative Party manifesto 2015: https://www.conservatives.com/manifesto, p.11. 1177. UK Government. (2015). UK partners with Ghana on tax transparency. Press release dated 6 August 2015. Accessed 28 August 2015: https:// www.gov.uk/government/news/uk-partners-with-ghana-on-taxtransparency
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