Wednesday, October 12, 2016

Impact of Taxation And Insider Trading

When, like Faust, we despair at the limitations of human knowledge, another path opens. Experience, in the Emersonian sense, can show the way to transcendence 


(Forgive any typos, run on sentences, bad punctuation, etc. I’m flying without a net and with four (?) bourbon-rocks.)

Credit Suisse places five employees on leave over tax probe

 Why is globalisation under attack 

Using Illicit Financial Flows to increase accountability Publish What You Pay

Closing the tax loopholes: A Buffett rule for Australia 

Just before he retired from politics, former attorney-general  Philip Ruddocks gave a heartfelt speech about the victims of Australia's big banks. An apartment developer was callously refused permission by his bank to change construction companies when its principal executive died, Ruddock told Parliament, his voice tinged with sadness. "When the builder did not deliver the project in a timely way the bank called up its interests, essentially closed down the operation and sold the property," he said. "And I might say, somebody else made an absolute killing in finishing it off." Ruddock left out part of the story – a big part. The property developer and Bankwest creditor he was referring to, Chris Evanian, was the Rolls-Royce-driving president of the biggest Liberal Party branch in Ruddock's seat. Liberal Party property developers got high-level help in CBA war

Australia should boost taxes on wealthy property owners to curb rising inequality which is eroding Australia's "egalitarian ideal", according to the French economist Thomas Piketty 
In an exclusive, Australian-first interview, ahead of an upcoming visit to Sydney and Melbourne, the author of the 2014 surprise bestseller Capital in the Twenty-First Century told Fairfax Media that 
inequality in Australia had risen to its highest level in half a century.Want a fairer Australia? Tax home owners, says 'rock star' economist;  

One hundred' BBC presenters face HMRC tax investigation

How scammers are targetingpre-retirees and their smsfs

Trump thinks not paying taxes is smart. But it's a threat to democracy The Guardian

Being a tax dodger doesn’t mean you’re smart Newsweek

Swiss Bank Can't Tell on Lawyers Who Helped Wealthy Americans finnews 

After disclosure on Bahamas tax havens, UN experts urge governments to take action

UN Assembly report on impacts of taxation on human rights and explores the challenges posed to the international order by widespread tax avoidance, tax evasion, tax fraud and profit shifting, facilitated by bank secrecy and a web of shell companies registered in tax havens

German taxman goes after foreign banks Deutsche Welle

Swiss tax authorities say 450 Swiss linked to Panama Papers swissinfo

Day-trading chiropractor falls on all the prongs. Judge Mark Holmes writes like no other Tax Court judge, and his opinions are usually entertaining. A California day trader may be excused for being unentertained by a Judge Holmes opinion yesterday. It can’t be entertaining to be assessed $211 million in additional taxes Hyperprongification edition 

‘His criminality was astounding’: An osteopathic doctor, a motorcycle gang and $5 million in prescription pills  “Welcome to the Open Government Plan for the National Archives and Records Administration (NARA) for 2016-2018. Start out by viewing the Message from the Archivist and the Executive Summary, which will provide an overview of the plan and open government commitments the agency has made for the next two years.  We want to hear from you! This is NARA’s fourth Open Government Plan and we see this as a living document that will have updates over time as feedback is received 

Following up on last week raids in India - Mira road IRS scam four more call centres raided by Thane Police 

Secret tax deal for football millionaires - the cosy deals with taxman that save stars millions Daily Mail

"Supreme Court appears hesitant to curtail insider trading prosecutions": David G. Savage of The Los Angeles Times has this report.Richard Wolf of USA Today reports that "Supreme Court seeks to clarify insider trading."
Aruna Viswanatha of The Wall Street Journal reports that "Supreme Court Appears Skeptical of Radically Altering Insider-Trading Rules; Court heard arguments in case asking whether insider trading occurs if original tipster doesn't benefit."
In today's edition of The New York Times, Ben Protess and Matthew Goldstein have an article headlined "What Is a 'Personal Benefit' From Insider Trading? Justices Hear Arguments." In addition, today's newspaper contains an editorial titled "The Supreme Court Revisits Insider Trading."
In today's edition of The Washington Post, Renae Merle has an article headlined "Is it insider trading to share corporate information with a relative? Supreme Court hears arguments."
And in commentary, online at Bloomberg View, law professor Noah Feldman has an essay titled "There's Brotherly Love, and Then There's Insider Trading."

"Supreme Court Name-Checks Kim Kardashian While Trying To Define A Legal Term; The reality star's robbery came up during oral arguments in a bank fraud case": Cristian Farias of The Huffington Post has this report.And Chris Geidner of BuzzFeed News has an article headlined "Yes, A Supreme Court Justice Discussed Kim Kardashian's Robbery In Court."

HMRC: Taxation on corporate debt rules out for consultation

Panama: The Hidden Trillions

Donald Trump Got a Tax Break For Stiffing Contractors 

Don Quijones: Rescue of Italy’s Monte dei Paschi Gets ‘Dark’ & ‘Complicated’ naked capitalism
'The more perilous Italy’s financial situation gets, the more money there is to be made for America’s “most corrupt bank.” '

Six Months On From The Panama Papers, Here’s Five Ways For UK Prime Minister Theresa May To Tackle Tax Dodging ActionAid/ The Huffington Post

Facebook gets £11m tax credit, after vowing to pay more to taxman 

eBay pays £1.1m UK tax on revenues it told US investors were £1.1bn   

More Corruption: The Dash For Cash: Leaked Files Reveal RBS Systematically Crushed British Businesses For Profit