Wednesday, February 15, 2017

TaxJazz and Some Lessons from the Big Data from Panama Papers

An audit of the Australian Taxation Office’s (ATO) implementation of recommendations made in past audits by the Australian National Audit Office (ANAO) and inquiries by Parliamentary Committees has found the Office to have done so adequately, if somewhat tardily.


Office survives audit of audit calls

Sheahan Lock: funded insolvency chase could net billions for ATO

Story image for ato tax from The AustralianTax agents' future questioned as AI finds answers in seconds

The Australian Government significantly expands ATO powers to fight multinational tax avoidance: Legislation introduced for 40 per cent Diverted Profits Tax (DPT)

The best way to pay company directors

Some Lessons from the Big Data from Panama Papers and Tax Haven Secrecy 
Readers of this blog interested in offshore tax havens may want to read this law review article:  Arthur J. Cockfield, Big Data and Tax Haven Secrecy, 18 Fla. Tax Rev. 483 (2016), Big Data.  The author, a professor of law at Queens University (Canada), dives into a subset of the Panama Papers data and draws some conclusion as to the offshore account secrecy offered by so-called tax havens, both for persons avoiding taxes but also for persons avoiding scrutiny of large sums of illegal cash and assets.

Joshua Franklin, Famed tax haven Switzerland chases hidden cash

Tax JazzMarjorie Kornhasuer (Tulane), TaxJazz: The Tax Literacy Project:

TaxJazz provides individuals with non-partisan, non-technical, accessible tax information to help people participate in discussions about tax policy and problems facing the nation. TaxJazz already addresses basic tax questions, such as: Why do we have taxes? Are there any legal constraints on taxation? What can be taxed? How do we decide what is a fair tax? It plans to add material on particular tax issues and provisions.

Horsky is Sentenced for Major Offshore Accounts 

DOJ Tax announced here the sentence for Dan Horsky.  I previously blogged about him here:  Former Business Professor Pleads Guilty to Tax Related Crimes; In Addition, Will Pay $100 Million FBAR Penalty (Federal Tax Crimes Blog 11/4/16; 11/9/16), here; see also Credit Suisse Being Investigated for Omitting at Least One Large Account (Federal Tax Crimes Blog 11/22/16), here.