Category: Boris Johnson

Slow UK aid for hurricane-hit islands linked to tax haven ties

Anguilla’s ex-attorney general says UK government may fear exposing its role in Caribbean territories’ tax arrangements Aid offered by the British government to its hurricane-battered territories in the Caribbean has been dismissed as “derisory” by a former attorney general of one of the worst-hit islands. Rupert Jones, who completed a… – Continue reading

Post-Brexit Britain WILL secure strong trade deal with EU, insists leading economist

BRITAIN will thrive outside the European Union by using its influence to secure a strong trade deal, according to a senior economist. Dr Michael Ivanovitch said the Government has “huge leverage” in its trade negotiations after it triggers Article 50 of the Lisbon Treaty and leaves the union. He insisted… – Continue reading

David Cameron’s finances touched a nerve – tax openness is the answer

Nearly half of people say the Prime Minister’s handling of his finances was ‘morally repugnant’, according to our opinion poll, and they support public tax returns for all As the fallout from the fallout from the Panama Papers leak begins to settle, the Prime Minister is left contemplating the damage… – Continue reading

Google tells Parliament it won’t pay ‘Google Tax’ in U.K.

Google’s top global tax executive told U.K. lawmakers that a new U.K. tax provision dubbed “the Google Tax” will not actually apply to the U.S. technology giant. The law, officially the Diverted Profits Tax, was introduced last year amid concerns that Google parent Alphabet Inc. and other global tech companies… – Continue reading

Business taxation may need radical change – think tank

Radical changes to business taxation may be necessary to reduce large multinationals’ ability to avoid levies, a respected economic think tank has indicated. In the wake of the row over Google’s deal with HM Revenue and Customs, the Institute for Fiscal Studies (IFS) suggested a shake-up of the corporation tax… – Continue reading

Is it the duty of companies to minimise their tax bills? No, of course not

Here’s a transaction that did the rounds some years ago. If I wanted some foreign exchange in the future I could enter into a contract with a bank by which it would sell me some. Assume that, in order to get a bank to promise to give me $2bn in… – Continue reading

ANDREW PIERCE: A very taxing revelation for saintly Clegg

As Deputy Prime Minister, the holier-than-thou Nick Clegg made huge play of how his Lib Dems forced their Tory Coalition partners to crack down on tax avoidance. Offshore tax havens, in particular, were his target, when he said: ‘There are millions of people who pay their taxes . . …. – Continue reading

Revealed: How foreign buyers have bought £100bn of London property in six years

Wealthy investors have snapped up at least £100 billion of property across London using overseas companies in the past six years, new figures reveal today. Official data seen by the Standard shows that since 2008 there have been 27,989 purchases of homes, buildings and land in the capital by shadowy… – Continue reading

Conference Focuses on Intersection of Tax Law and Citizenship

Tax experts from the United States, United Kingdom, Canada, Brazil and Israel spoke at a two-day conference at Michigan Law about the challenges of the Foreign Account Tax Compliance Act (FATCA) and a multitude of other issues at the intersection of the law of taxation and citizenship. Panel discussions at… – Continue reading

Tax law seen as driving Americans to renounce citizenship

Stanley Amland threw it off. So did Ingrid Bracke. Rhoda May Derksen ditched hers, too. The names, picked at random for this article from the Federal Register, are among the 3,415 Americans who renounced their U.S. citizenship or relinquished their residency permits last year. As a national debate rages about… – Continue reading

Labour wants more agent diligence over money-laundering

Labour’s housing spokesperson on the London Assembly wants estate agents and mayor Boris Johnson to take money laundering in property more seriously. Tom Copley says recent studies by global pressure group Transparency International suggests over 36,000 London properties are held by companies operating in offshore tax havens. “Owing to the… – Continue reading

Signs of radical settlement for Scotland emerge after poll results

The Conservative majority alongside a nationalist landslide in Scotland reopened the question of powers for the Scottish government, raising the prospect that the Tories might offer Edinburgh full control over taxes and domestic expenditure. The first signs of a radical new settlement emerged on Friday when Boris Johnson, the London… – Continue reading

Australia: US Citizens and Green Card Holders – the long arm of the IRS

You may be forgiven for thinking that once you no longer live in the United States, that your ongoing US tax obligations may be relatively simple or even non-existent, particularly if you have never held a US Passport or lived in the US. However the definition of US citizen is… – Continue reading

Foreign crooks using the London housing market to launder dirty money

Boris Johnson today called for a massive tax rise to stop foreign crooks using the London housing market to launder dirty money. The mayor claimed ‘international despots and criminal rings’ were using phoney companies to buy homes in the capital. More than 35,000 London properties are owned by secretive offshore… – Continue reading

London mayor’s unpaid tax bill provides food for thought

You may have heard in the news about Boris Johnson. He’s a flamboyant politician in the U.K. with an unruly mop of blonde hair. Recently, he made news by publicly saying he absolutely won’t pay his U.S. taxes. And yes, he is the mayor of London (the “real” London, where… – Continue reading

American citizens like Boris must pay more tax, says US ambassador to UK (but Google and Amazon are doing nothing wrong)

Ambassador to London Matthew Barzun says US citizens must pay up Boris Johnson was born in New York so faces a tax bill in America London Mayor has branded the Transatlantic rules ‘outrageous’ Barzun defends US firms like Amazon and Google over tax dodging Insists they are just playing by… – Continue reading