Category: Icap

London Wants to Become the Center of Chinese Currency Trading

Three years ago, Chinese officials said U.K. Prime Minister David Cameron had “seriously damaged” relations by meeting with the Dalai Lama, the exiled Tibetan leader. As planned talks between the two countries were canceled or failed to take place, worries emerged that Britain would miss out on building deeper economic… – Continue reading

NAB suggests ways to FBR to check Rs2,000 bn tax evasion

ISLAMABAD: To check the revenue-related corruption and tax evasion of an estimated Rs2,000 billion annually, the National Accountability Bureau, on the recommendation of its committee of experts, has sent to the FBR a comprehensive package for implementation to overhaul the country’s tax machinery. The creation of an independent Pakistan Revenue… – Continue reading

Luxembourg tax files: how Juncker’s duchy accommodated Skype and the Koch empire

The EU’s most powerful official is under mounting pressure as dozens more multinational corporate names are dragged into the Luxembourg tax scandal following a new leak of confidential documents on Tuesday. Jean-Claude Juncker, president of the European commission, has been battling to distance himself from the growing furore over the… – Continue reading

Top British companies using Luxembourg tax avoidance scheme ‘like a magical fairyland’ to save billions

Papers show firms used internal loans and interest payments to cut tax bills Leaked tax documents show arrangements were signed off by EU state They are legal, but are predicted to trigger calls to stop firms avoiding taxes British companies using scheme include Dyson and drugs group Shire Some of… – Continue reading