Category: Court cases
Enforcement Notification – Summerside psychiatrist fined over $215,000 for personal and corporate tax evasion
A peak into the treatment of a tax evasion investigation conducted by the CRA. ... - Continue reading
Apple Wins €13 Billion Tax Avoidance Case Against EU Antitrust Regulator
A big win for Apple in a tax avoidance court case. ... - Continue reading
Italy: Italian Supreme Court Confirms Foreign Trusts Should Receive Tax Treaty Benefits
Foreign trusts entitled to tax relief, says Supreme Court of Italy. ... - Continue reading
Tech companies rejected by top court on tax breaks
The U.S. Supreme Court refused to question a ruling that technology companies including Facebook Inc. and Google say will cost them billions of dollars in taxes by limiting deductions for stock payments to employees. The justices without comment Monday turned away an appeal by Intel Corp.’s Altera unit, which challenged… – Continue reading
Spotlight on Mauritius tax treaty in Tiger Global ruling
Tiger Global in a difficult court case as it finds itself deprived of tax relief by the Authority of Advance Ruling (AAR). ... - Continue reading
HMRC wins tax treaty case against S. African diver
And a win for the UK tax authority - the HMRC. ... - Continue reading
Italy’s Supreme Court rules on VAT treatment of intercompany management fees
Highlights on a recent court case in Italy regarding transfer pricing. ... - Continue reading
Italy’s financial transaction tax complies with EU law, court rules
The European Court of Justice judges Italy’s financial transaction tax to be compatible with EU laws. ... - Continue reading
Nigeria: Tax Appeal Tribunal Holds That Tax Exemptions Will Not Be Granted Unless All Conditions Precedent For Its Grant Are Fulfilled
Light on the court case dated 23rd December 2019. ... - Continue reading
Canada: Alta Energy: FCA Confirms That Treaty Shopping Is Not Abusive (For Now …)
The Federal Court of Appeal of Canada concluded tax investigations case in favour of Alta Energy. ... - Continue reading
UBS Fined $14.5M For Violating Bank Secrecy Act
The Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has assessed a $14.5 million fine against UBS Financial Services (UBSFS) for willful violation of the Bank Secrecy Act, according to a treasury report. Five million dollars will be paid to the treasury; the rest… – Continue reading
Decade in jail for Australia’s biggest tax fraud
A former Gold Coast property developer has been jailed for more than a decade in the largest prosecuted tax fraud case in Australia’s history. Glitter Strip businessman Michael Issakidis was sentenced to 10 years and three months in prison by the Supreme Court of New South Wales for his involvement… – Continue reading
UK Hails Win Over Tax-Avoidance Scheme
HM Revenue and Customs, the UK tax agency, has lauded a ruling in its favor secured before the courts that will save the UK exchequer tens of millions of pounds in related tax-avoidance cases. The Upper Tribunal upheld an earlier ruling against Cyclops Electronics and Graceland Fixing on appeal, concerning… – Continue reading
Russian senator facing tax evasion charges in France ‘hopes to return home shortly’
MOSCOW, January 22./TASS/. Russian senator and businessman Suleiman Kerimov, who is facing money laundering charges in France, is sure that he will prove he is not guilty, Federation Council Speaker Valentina Matviyenko said after meeting with Kerimov, who had spent three days in Russia with the permission of the French… – Continue reading
NAB seeks details of offshore firms held by Aleem Khan, Moonis Elahi
The National Accountability Bureau (NAB) has written to several state institutions seeking record and details of offshore companies reportedly established in tax havens abroad by Pakistan Tehreek-e-Insaf (PTI) leader Aleem Khan and Pakistan Muslim League-Quaid (PML-Q) leader Chaudhry Moonis Elahi, DawnNews has reported. The Supreme Court had in November last… – Continue reading
Uber sues HCM City tax department
Viet Nam News HCM City – The Netherlands-based ride-hailing firm Uber International Services Holding B.V has filed a lawsuit against the HCM City tax department after it decided to forcibly collect tax, Người Lao Động (Labourer) newspaper reported. Earlier the department had sent a notice to Uber that it had… – Continue reading
Tax advice under scrutiny: Halsall v Champion Consulting
Introduction As the government continues to grapple with a budget deficit and strained public finances, there remains considerable pressure on HMRC to crack-down not only on tax evasion, which is illegal, but tax avoidance, which HMRC refers to as “bending the rules of the tax system to gain a tax… – Continue reading
Cristiano Ronaldo May Be Fined at Least $35.3Mln for Tax Evasion – Reports
A Real Madrid star footballer will have to face a court hearing on December 22, accused of evading taxes from 2011 to 2014. MOSCOW (Sputnik) — Real Madrid football club striker and Portuguese national football team forward Cristiano Ronaldo may be fined 30 million euros ($35.3 million) for tax evasion,… – Continue reading
Lagos shuts hotels over N354.75m tax evasion
The Lagos State Internal Revenue Service ( LIRS ) on Thursday shut 11 hotels, restaurants and event centres over alleged failures to remit their taxes under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. Mr Seyi Alade, Director, Legal Services of the LIRS, said this after a… – Continue reading
Apple Begrudgingly Agrees to Pay Ireland Nearly $15 Billion in Back Taxes
Apple, whose CEO Tim Cook likes to talk a big game about how the tech industry should be more socially responsible while overseeing an international tax-avoidance regime that puts Scrooge McDuck’s gold-filled vault/swimming pool to shame, has agreed to repay Ireland $14.6 billion (around €13 billion) in unpaid taxes, the… – Continue reading
English High Court Busts New Zealand Trust Structure
In a world where the creation of schemes to exploit loopholes in global tax laws causes social uproar about ‘hiding money’ (the leaking of the Panama Papers and Paradise Papers being good examples), the recent decision of JSC Mezhdunarodniy Promyshlenniy Bank and another v Pugachev and others [2017] EWHC 2426… – Continue reading
Dozens of Tax Evasion Cases Dropped
Around 60 cases against suspected tax evaders have been dropped by the district attorney’s office due to a break in case proceedings while waiting for a decision from the European Court of Human Rights. Kjarninn reported first. Many of the dropped cases are against individuals who appeared in the Panama… – Continue reading
NAB reviewing cases of all offshore companies for probe
ISLAMABAD: The NAB is presently examining all cases of offshore companies, including those unearthed by the Panama Papers to ensure across-the-board accountability. NAB Chairman Justice (retd) Javed Iqbal told The News here on Monday that he was presently studying the cases of offshore companies to see what wrong had been… – Continue reading
Concealment of offshore companies intended at hiding wealth: Justice Bandial
ISLAMABAD: Supreme Court Justice Umar Ata Bandial remarked on Wednesday that the motive behind hiding an offshore company is to hide wealth. He made the observation while hearing a disqualification petition against Pakistan Tehreek-e-Insaf (PTI) Secretary General Jehangir Tareen. A three-member bench, headed by Chief Justice Mian Saqib Nisar and… – Continue reading
‘Enabling’ tax avoidance – legislation must draw distinction between promoting avoidance and advising on the law
Commenting on today’s government consultation paper on ‘Strengthening Tax Avoidance Sanctions and Deterrents’, John Cullinane, Tax Policy Director of the Chartered Institute of Taxation, said: “This is the latest in a series of measures cracking down on those who profit from tax avoidance schemes. The Government need to be careful… – Continue reading
Google tax’ looms large: Marketing spend might go up
Court cases likely over interpretation of the new levy proposed in the Budget for digital economy The government’s plan to expand the scope of equalisation levy proposed in the Union Budget, seeking to bring more transactions in the digital economy under the tax net, has left many e-commerce players fuming…. – Continue reading
HMRC issues warning over contractor loan tax avoidance schemes
As part of what it describes as a ‘relentless’ effort to crack down on tax avoidance, HMRC has put out two publications highlighting problems with contractor loan schemes and misleading claims from scheme promoters, in a bid to deter taxpayers from any involvement In its Spotlight 29 document, HMRC says… – Continue reading
French Tax Update – Recent Case Law and Other Noteworthy Publications
The present French Tax Update will focus on an overview of several noteworthy publications, including decisions issued during the past few months by the French Administrative Supreme Court (Conseil d’Etat) and French Constitutional Court (Conseil Constitutionnel), as well as the European Commission decision in respect of the Belgian Excess Profit… – Continue reading
Spain’s Princess Cristina Faces Historic Trial – and a Possible 8-Year Prison Sentence
Once known as “Spain’s Princess Diana,” King Felipe’s younger sister is facing criminal fraud charges. Monday saw the start of the trial of Princess Cristina de Borbón – the first member of Spain’s royal family ever to be put on trial in a criminal court. Cristina, 50, is charged with… – Continue reading
Revenue secures 27 criminal convictions for tax evasion
More than €45.6bn raised for exchequer last year, up from €41.2bn in 2014 The Revenue Commissioners secured 27 criminal convictions for serious tax evasion and fraud in 2015, according to figures released today. Those prosecutions were on top of 2,063 summary convictions, or lesser charges, for the non-filling of tax… – Continue reading
Viacom Accused of Hiding Mutant Ninja Revenue in Netherlands
Viacom Inc. was accused by one of its former executives of plotting to hide revenue from “Teenage Mutant Ninja Turtles” in a Netherlands entity to avoid taxes. The ex-vice president for financial planning at Viacom claims she was fired after opposing what she believed was an illegal tax dodge. Nataki… – Continue reading
Texas tycoon Wyly faces $2 billion tax trial over offshore trusts
(Reuters) – Texas tycoon Sam Wyly is set to face off against the Internal Revenue Service at trial on Wednesday over more than $2 billion the agency says he owes for using offshore trusts to engage in one of the largest tax frauds in U.S. history. The trial in federal… – Continue reading
Court’s winding-up ruling on Hong Kong’s Yung Kee goose restaurant sends signal to offshore companies
Legal experts say court order for restaurant’s parent company based in British Virgin Islands could lead to resolution of more disputes in city Hong Kong’s top court recently gave the go-ahead for the parent company of the famous Yung Kee roast goose restaurant in Central to be wound up, despite… – Continue reading
Uckfield banker jailed for involvement in £2.2m tax fraud
An Uckfield investment banker has been jailed for his involvement in a £2.2 million tax fraud. Phillip Jenkins, of Ketches Lane, Sheffield Park, Uckfield, was found guilty of conspiracy to cheat the Public Revenue and sentenced to four and a half years in prison. Jenkins was an investment banker working… – Continue reading
Leeds United: Cellino cleared of Italian tax evasion charges
Leeds United chairman Massimo Cellino has been cleared of charges of tax evasion relating to the transfer of two players during his time as owner of Italian club Cagliari. Cellino was acquitted by a court in Sardinia today after his lawyers successfully argued that a government ruling introduced last year… – Continue reading
Wal-Mart Sues Puerto Rico Over ‘Astonishing’ Tax Increases
Island’s biggest employer files suit in San Juan federal court Legal challenge comes as Puerto Rico copes with debt payments The Puerto Rico unit of Wal-Mart Stores Inc. sued the island’s government, seeking to overturn a new tax the retailer calls unfairly high. Enacted in May, Puerto Rico’s… – Continue reading
HMRC Task Force Gears Up To Take On Tax Avoidance
HM Revenue & Customs (HMRC) has launched a new crackdown on tax avoidance with 10 tips on how to stay on the right side of the law. The warning follows recent revelations of 1,500 investors, including celebrities and sports stars, who are being pursued for £200 million for staking cash… – Continue reading
HMRC wins Rangers tax case appeal
HM Revenue and Customs (HMRC) has won a judgement that Rangers’ use of Employee Benefit Trusts (EBTs) broke tax rules. Rangers used the scheme from 2001 until 2010 to give millions of pounds of tax-free loans to players and other staff. In what became known as the “big tax case”,… – Continue reading
Canada: Canadian Challenge To FATCA
On August 4 and 5, 2015, the FC heard oral arguments in a lawsuit—commenced on August 11, 2014 by two Canada-US citizens—that challenges the law implementing the Canada- US intergovernmental agreement (IGA) relating to FATCA (Virginia Hillis et al. v. The Attorney General of Canada et al., court file no…. – Continue reading
US denies JP McManus entitled to $5.2m tax refund
The United States government has denied businessman JP McManus is entitled to a $5.2 million (€4.7 million) refund of taxes which he claims were wrongly withheld on $17.4 million in US gambling winnings in 2012. The Department of Justice, responding to a legal complaint filed by the Limerick man in… – Continue reading
Masche pleads guilty to tax evasion
Barcelona defender Javier Mascherano has reportedly pleaded guilty to a charge of tax evasion after appearing in court on Thursday. AS says that the Argentine was accused of using tax havens to funnel money from image rights and defrauding the Spanish authorities of around €1.5m in 2011 and 2012. Mascherano… – Continue reading
