The debate on country-by-country reporting rolls on in the comments section of this blog fuelled, at least in part, by my calculation of potential profit shifting by Barclays based on their figures published this week. The debate is, however, seemingly of little benefit since those who have commented are very obviously, and determinedly, sure that Barclays have done nothing wrong and, in their view, there is nothing their accounts might disclose that might even suggest they have questions to answer.
Those of that opinion are, of course, entitled to hold it. It does not, however, prove that I, and many others, are wrong to think that ,at the very least, Barclays’ data does suggest it makes significant and deliberate use of tax havens.
I am encouraged in this view by a new blog on the TJN web site that I know to have been written by Prof Sol Picciotto, who I consider one of the foremost experts on this issue. I won’t reproduce it here as I have not asked permission to do so, but would encourage you to click the link and carry on reading over at TJN.