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Articles on Tax evasion

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A few changes in South Africa’s tax administration will have a huge impact on business. Shutterstock

Key tax changes that will affect business in South Africa

South Africa has sent a strong signal against tax evasion and is planning to introduce a carbon tax. There are also incentives for employers keen on taking inexperienced job seekers.
Treasury Secretary John Fraser now has plenty of company in calling for a ‘fundamental rethink’ of retirement income policy. AAP/Lukas Coch

Time to listen to the evidence for a rethink of super tax concessions

Over the last six months a public consensus has emerged among academics, think tanks, community organisations, elements of the superannuation industry and most politicians about superannuation.
Microsoft Corporation’s Bill Sample, Google Australia’s Maile Carnegie and Corporate Vice President of Apple Australia Tony King appeared before Senate committee public hearings on corporate tax avoidance last week. AAP/Nikki Short

Explainer: the difference between tax avoidance and evasion

Tax avoidance or tax evasion? One is legal and one isn’t, but there are acres of grey area in-between.
Naming and shaming is not really the main agenda of tax transparency. Bart Maguire/Flickr

Tax transparency can work for companies if they do it right

Companies that embrace tax disclosures and remind the public they are contributing to the economy could actually benefit from greater transparency.
H is for heft. Matt Buck

What’s gone wrong at HSBC?

As HSBC suffers under the scorching spotlight of public scrutiny once more, it is fair to ask why the banking group so often finds itself at the heart of the action.
Despite claims, there isn’t a systemic problem with tax evasion by Australian companies. Image sourced from www.shutterstock.com

Australia is not a country of rorters: our tax system is sound

The Henry Tax Review identified 125 taxes within Australia levied by all levels of government. Of those 125 taxes, just 10 taxes raised 90% of all tax revenue. The company tax is the second largest source…
All part of the same system. Sean Dempsey/PA Wire

Until we fix our economic system tax evasion will continue

There has been an international outcry over the leaked HSBC files, which provide evidence that the bank’s Swiss arm helped wealthy clients put millions of dollars worth of assets out of the reach of the…
Heart of the matter. Banks at Canary Wharf. Simon & His Camera

Don’t trust your bank? Here’s how it could win you back

If we’re looking for ways the global banks can rise to the ethical challenge highlighted by the leaked files from banking giant HSBC, we could do worse than look at one of the few institutions to emerge…
Pressure is building ahead of the Brisbane G20 Leaders’ Summit for action on tax avoidance by multinationals. Andrew Sutherland/Flickr

Key events in the G20 push on tax avoidance

Tax avoidance by multinational enterprises is not new. But the current level of political will and public outcry on the issue is uncommon in the history of taxation. The upcoming G20 meeting in Brisbane…
Luxembourg: a fairyland for tax avoidance? Claude Wians

Luxembourg: a tax haven by any other name?

The revelations that global and multinational businesses have been brokering “secret” tax deals with Luxembourg to avoid paying taxes in their home countries, may be the first time an entire country has…
Future Fund Chairman and former Australian treasurer Peter Costello is likely to face more questions on why the fund has been involved in secret tax deals in Europe. Dan Himbrechts/AAP

Luxembourg leaks: G20 alone can’t stamp out tax avoidance

The hollowing out of tax collected for public purposes by rich and poor nations is not confined to technology and mining companies, according to a major leak of secret tax agreements covering more than…
A bitter inversion: AbbVie nixed its US$54 billion acquisition of Irish drug maker Shire after the US Treasury eroded the benefits of doing a corporate inversion. Reuters

Need to access cash is driving surge of corporate inversions, not the high US tax rate

Corporate inversions have been front page news in the US for months with everyone from President Barack Obama to the man on the street expressing a view as their usage has surged. Unfortunately, many of…
Treasurer Joe Hockey has picked up the pace on tax information sharing, in response to a push by the OECD. Dave Hunt/AAP

What’s needed for Australia to seriously tackle tax avoidance

Despite Treasurer Joe Hockey’s continued statements that the government is doing “everything we can … to ensure that companies that earn profits in Australia pay tax in Australia”, the federal government…
Corporations need our help. Crispin Semmens

How to pull the plug on irresponsible capitalism

The Organization for Economic Cooperation and Development has proposed a plan to stop companies from avoiding billions of dollars in taxes. As we know from the scandals surrounding Amazon, Starbucks, Vodafone…
When African nations can effectively curb tax evasion, they may also be able to fight their major health problems. AAP/EPA/AHMED JALLANZO

How tax inspectors could prevent the next Ebola outbreak

Much has been written about the poor public health and clinical capacity to respond to the Ebola outbreak in West Africa. Inadequate medical and nursing staff resources, inadequate isolation wards, inadequate…
The G20 leaders agree more must be done to address tax avoidance, but the multinationals they’re targeting could be having the last laugh. William West/AAP

Multinationals unfazed by G20 tax crackdown

The G20 finance ministers have once again agreed to cooperate to counter aggressive cross-border tax avoidance by multinationals. Many US firms are using tax avoidance schemes for their non-US earnings…

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