Private
finance
Debt
Tax
justice
Aid
Financial
architecture
*|MC:SUBJECT|*

Top Story

Eurodad reacts to the Council Conclusions on an EU tax haven blacklist 

Last week EU Member States discussed the creation of a tax haven blacklist at a meeting in Brussels. Campaigners criticised the process as highly political, highlighting in particular the decision not to include EU countries on the list, despite the fact that some EU states are acting as tax havens. The EU was criticised for creating a double standard that will merely move tax dodging from one tax haven to another. Concerns were also raised that developing countries risk being blacklisted if they do not sign up to rules and standards decided by rich countries...

Conference


The Eurodad-Oxfam IBIS "International conference on responsible taxation in development finance" took place in Brussels on 10 November. Attendees heard presentations from a range of speakers from both civil society and development finance institutions. The keynote address was given by EU Commissioner Pierre Moscovici, who said the Panama Papers showed that the response to tax dodging must be global. 

All presentations were recorded and can be listened to here. The transcript of Pierre Moscovici's live Q&A can be read here.

Blog



This latest blog from Eurodad policy analyst Hernán Cortés Saenz, "Complex structures and aggressive tax planning behind the Nicaragua Canal" looks at a report (available only in Spanish), which analyses the complex company structure of the Hong Kong Nicaragua Canal Development Group and asks whether this structure exists for legitimate purposes or for tax avoidance purposes. The report finds that there is
no relevant data to justify the structure, or the choice of jurisdictions, other than a tax avoidance strategy, and that the case is evidence of the ‘race to the bottom’ on tax.

Report



Oxfam IBIS, in collaboration with Eurodad and other partners, released a report at the Oxfam-Eurodad DFIs and tax conference: "Development finance institutions and responsible corporate tax behaviour: where we are and the road ahead". The report analyses DFIs’ publicly available policies on tax and finds that some DFIs are significantly lagging behind in preventing their funds supporting aggressive tax planning. Some aspects of their investments remain shrouded in secrecy, although transparency is crucial in order to establish public confidence. It concludes that DFIs need to continue to improve public access to information to accountability. 

Vacancies

Eurodad is hiring! We’re looking for a Senior Policy and Advocacy Officer & a Policy and Advocacy Officer - Effective Aid and Publicly-backed Private Finance (permanent contract).

The application deadline is 2 January 2017, before midnight, Central European Time.

Eurodad is also seeking a Finance and HR Officer to help manage the finances and accounts of an international network of European NGOs based in Brussels. 


This is a full time position but part-time is possible, to be negotiated with the successful applicant. Application deadline: 18 December 2016 before midnight Central European Time. 
 

What’s New


USEFUL RESOURCES
A new report from the Greens/EFA group in the European Parliament, "Toxic Tax Deals: When BASF's structure is more about style than sub-stance", has uncovered large scale tax avoidance by chemical giant BASF through the use of aggressive tax planning strategies in a number of European countries.

Transparency International EU’s latest report ‘Integrity: Transparency and Account- ability of the European Investment Bank’ finds that the EIB needs much more stringent rules on trans- parency and accountability and must take steps to avoid conflicts of interest.

A new report from Development Initiatives, “Blended finance: Understanding its potential for Agenda 2030”, looks at the use of blended finance for development by analysing where it comes from, where it goes to, and what it is used for.

The latest report from Counter Balance, "Going Abroad, a critique of the European Investment Bank's external lending mandate", finds a "dismal track record from the bank on a range of issues from transparency to human rights".


EURODAD MENTIONS
Eurodad director Jesse Griffiths spoke to Thomson Reuters Foundation as part of their coverage of evidence that rich donors are not doing enough to rein in tied aid.

Eurodad's Tove Ryding was interviewed by Euractiv on the EU's proposed tax haven blacklist. Ryding was also mentioned in the EUobserver as part of their coverage of the blacklist.


FACTS & FIGURES
The new report on toxic tax deals from the Greens/EFO group of the European Parliament (above) estimates that BASF used tax planning strategies to avoid €923 million in tax over the last 5 years (2010-2014). 
 
Copyright © 2016 Eurodad, All rights reserved.

Our mailing address is:
Eurodad
Rue d'Edimbourg, Ixelles, Belgium
Ixelles 1050
Belgium

Add us to your address book|unsubscribe from this list | update subscription preferences
  
back