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6. ❓ While there is no suggestion that Glencore engaged in unlawful or fraudulent conduct by diverting its profits offshore, this tax dispute raises further questions about Deloitte’s role that the regulator may well take a closer look at thanks to this report from @taxwatch.bsky.social

5. 🤨 Deloitte – who signed off on Glencore’s accounts during this period – is already under investigation by the Financial Reporting Council for its statutory audits following the oil giant’s conviction for bribery in 2022: www.frc.org.uk/news-and-eve...

4. 🔎 This lack of transparency seriously detracts from the ability of the public to scrutinise the tax affairs of one of the largest UK companies by revenue. Glencore’s history of pervasive corruption in the oil sector means rigorous scrutiny by the public and regulators is all the more important.

3. 🛢️ Despite the huge sums at stake for the UK public purse, at a time when oil prices are fuelling record profits for Glencore & a cost of living crisis for taxpayers, it is deeply concerning that the tax assessment is being resolved through private arbitration in Switzerland – behind closed doors.

2. 💸 Glencore has reported almost $1 trillion in revenue since 2009, but by shifting 80% of its operating profits from the UK to Switzerland it has declared its tax liability to be a mere $76 million, with HMRC questioning the value of services provided by a Swiss subsidiary used to justify this.

1. 🌟 Brilliant new report out from our friends at @taxwatch.bsky.social exposing how profit-shifting by oil trading giant Glencore Energy UK Ltd has blown up into a £1.5 billion tax dispute with HMRC that has dragged on for 15 years. 🧵 www.taxwatchuk.org/private-just...

Different regulatory risks can pool in the same place. As @spotlightcorruption.org points out, a UK subsidiary battling a £1 bn+ 'diverted profits' tax bill for £mm Swiss payments (no suggestion unlawful) also pled guilty to paying £m bribes. Both raise questions for the company's auditors.

It's a thin line between celebrating glamor & artwashing extreme wealth. That line gets bulldozed when your patron is an ICE-profiteering billionaire bankrolling Trump’s vanity projects & a top spender on antiworker lobbying. Don't let Bezos artwash his at the Met Gala taxjustice.net/press/2-tax-...

📢 INEQUALITY GRAPHIC OF THE WEEK (No.14) 🔽 Worst in class (again): A roof over our heads should be a right and not subject to market forces. Thatcher's malign legacy lives on… Source: Prof. Danny Dorling Peak Injustice: Solving Britain’s Inequality Crisis www.dannydorling.org/books/peakin...

This is a really ambitious and significant report. I'm going to write about it on Critical Takes soon - it has important things to say about corporate power, but they're not all said in the same place and I think they need to be.

Chelsea and Man City in the FA Cup final. No other English clubs have systematically ignored, bent or broken the rules like both have done. In terms of trophies won, no other English clubs have been as successful over the past decade and a half either. The moral of the story - is that there is none.

GLOBAL: Labour fights for 25 per cent global minimum tax rabble.ca/podcast/labo...

everything in american politics boils down to this

Among other things, one of the underlying conditions for this graph is the deliberate, largely bipartisan erosion of the IRS. The sustained damage to the social contract is as much a part of the US' slide into authoritarian corruption as the growth of extreme inequality itself

The Israel Defense Forces (IDF) has committed more targeted killings of journalists than any other government’s military since the CPJ began documenting them in 1992.

So you're saying the people who should fear losing their jobs to AI are the people working in companies that are trying to sell AI?

Social media is no longer social. Most of it is passive viewing of videos and pictures from people we've never met. But we're still studying social media like it's 2010. We've entered the post-social media era — and research needs to catch up. osf.io/preprints/so... preprint w/ Richard Rogers

What makes this even more intriguing of course is that Dangote is looking to IPO the refinery in the near future, at a valuation that could be in the tens of billions of dollars...

Intriguing: On April 7th, the World Bank publishes a report on Nigeria’s economy. One of the recommendations: open petrol imports to bring prices down. That would be bad news for the profits of Nigeria’s largest refinery, owned by Aliko Dangote.

How would media refer to this story if the institution involved was also Nigerian? It's not as if the World Bank doesn't have a history of corruption, but somehow that's unlikely to be the way this gets described. (Great spot @charlesjkenny.bsky.social !)

I don't think it's unreasonable to say no MP should get gifts from overseas firms or donors. Feels like a pretty basic anti-interference measure.

If Trump bails out UAE, does that he mean he wins the English Premiership if Man City overtake Arsenal? And more importantly, does he take ownership of the UAE's backing for the RSF's genocidal campaign in Sudan?

I'm reading the draft report. Looks strong and ambitious. It's a shame, from my POV, that the various proposals touching on corporate power aren't put together so as to treat the institution of the very large, profit-maximising corporation as a single, structural obstacle to eradicating poverty.

Second panel, on 'post-growth as a decolonial project. Chair: Praachi Khera (part of the Roadmap team). Panelists: Bhumika Muchhala, political economist, Third World Network; Jason Hickel, leading post/de-growth scholar/Barcelona; Ndongo Sama Sylla, International Development Economics Associates

Great thread on the exciting launch (backed by us @taxjustice.net among others) of this comprehensive roadmap from the UN special rapporteur on extreme poverty and human rights

The Roadmap on Eradicting Poverty Beyond Growth is being launched today by Olivier De Schutter. www.ohchr.org/en/special-p...

She is also hopeful about the UN convention on tax (currently being worked on) that she sees as a potential 'game-changer' in breaking the downward spiral of tax-reductions. We need tax revenues to pay for social protection.

⚠️The extreme wealth of the superrich is making our economies insecure How did it become so extreme, and what can governments do about it? This Swedish-inspired infographic breaks it down and explains how a #WealthTax could help 👇 taxjustice.net/2024/08/19/i... #TaxTheSuperRich

It’s time.

Tax justice isn’t just about who pays, it’s about who gets paid. Public cash going to the best‑connected— regardless of questionable value, ethics & tax practices— is leaving us short‑changed financially & morally. Our ED Faiza Shaheen in The New Statesman: www.newstatesman.com/comment/2026...

If Eni is so willing to undermine democracy, shouldn't the EU, the so-called defenders of democracy, do something? Eg stop it having access to EU institutions? Take away its EU Parliament lobbying badge? Stop it having access to EU subsidies? @left.eu @socialistsanddemocrats.eu @greens-efa.eu

Disgraceful 🤬 ... Italian 🇮🇹 oil & gas giant Eni is trying to silence civil society criticism by launching *another* SLAPP suit against @recommon.org We stand with ReCommon + all orgs speaking truth to corporate power ✊ @vonderleyen.ec.europa.eu democracy is being dismantled, what will you do?

Effective 2025 federal tax rates paid by these corporations: Alphabet: 8.01% AT&T: 4.6% Meta: 3.57% General Motors: 3.09% Amazon: 1.37% Exxon Mobil: 1.31% Disney: -1.57% CVS Health: -3.88% Income tax rate paid by the typical American: 14.5% This is what a rigged system looks like.

None of this should come as a surprise, of course. If you hire Palantir, or any other of Peter Thiel's companies, you've chosen to work with an organisation founded by an extremely political active person who "no longer believes that freedom and democracy are compatible."

Palantir put out a 22-point summary of their CEO's book The Technological Republic. It's pitched as a defence of the West, but if you read it through the VDA framework, verification, deliberation, accountability, what it's actually doing looks rather different. twitter-thread.com/t/2045574398...

All they will find is sand Eyal Weizman on the demolition of Gaza www.lrb.co.uk/the-paper/v4...

A brutal reading that must be circulated once and again.

“HEY DID YOU HEAR THE GREAT NEWS?” (Yes, that sounds strange! But take two minutes to hear three good news stories from this week and why they matter, and let me know what you think.)

History has proven Judith Butler right (and The Guardian wrong for censoring her). Just look at the reaction of Justin Webb, Hadley Freeman, Janice Turner and other TERFs to Trump. TERFs are not "part of the contemporary struggle against fascism."

🚨BREAKING Research with @algorithmwatch.org shows how the EU Commission has copy-pasted a Microsoft amendment that will keep information on data centres hidden. The aim? In the face of growing resistance, to prevent NGOs from obtaining key information. 👏 @investigate-europe.eu for investigating

Happy Tax Day, New York. We’re taxing the rich.

BREAKING: In just the 16 months since Trump was reelected, the collective fortune of billionaires has grown by $1.96 trillion. More than half of that growth comes from just the top 15 billionaires, who alone grew their collective wealth by over $1 trillion.

Trump once again providing the sharpest edges to what is really a binary choice around the world: tackle extreme inequality with wealth taxes+, or drift into corrupt authoritarian oligarchy

It also notes that "international mobility responses [to wealth taxes being introduced] are often overstated" (@alexcobham.bsky.social) while acknowledging that "large shares of inherited wealth, especially at the top of the distribution, are taxed lightly or not at all" (@gabrielzucman.bsky.social)

Study on wealth taxation from @eu-economy-finance.ec.europa.eu "highlights the importance of an effective exchange of information on beneficial owners, on real estate and asset registration" taxation-customs.ec.europa.eu/news/publica... #beneficialownership #UBO #interoperability

Grateful to partner with @islandtaxprof.bsky.social on this important story about asylum, race and yes, tax law. Hope you'll have a read!

📢How do we eradicate poverty without relying on economic growth? Join us online on 22 April for the launch of the UN Special Rapporteur on extreme poverty and human rights ‘Roadmap for Eradicating Poverty Beyond Growth’: www.neep-poverty.org/ #BeyondGrowthRoadmap / @deschuttero.bsky.social

🌍 From July 2027, EU AML rules require #FinancialSecrecy to be included in risk assessments. Evidence shows higher secrecy is linked to greater exposure to #IllicitFinancialFlows. The question now is whether this shift goes beyond compliance. #AntiMoneyLaundering👉https://bit.ly/4cwnNlD

Healthcare outcomes for, especially, Black women are *profoundly* worse than for White women. Does Streeting mention this? Of course he doesn't.