Category: Tax Fraud

Is Tax Avoidance A Crime In The Uk?

There are financial and criminal penalties involved in tax evasion. Other instances can be civil or criminal. Generally speaking, HMRC deals with all types of fraud and evasion through civil processes. The severity of your tax evasion depends on how large a jail sentence you can expect, assuming you are charged with tax evasion. ... - Continue reading

How To Evade Taxes Canada?

In order to hide income or inflate expenses, intentionally overstating receipts or claiming in the wrong ways, hiding income, or lying to the Canadians, tax evasion can be considered in this regard. The goal is to gain as many benefits from compliance as possible in violation of the law, whereas aggressive tax avoidance is to evade compliance. ... - Continue reading

European Union: EUTA Special Edition: EU Responses To COVID-19 (Coronavirus) Crisis

The COVID-19 (Coronavirus) pandemic is affecting hundreds of thousands of people and is leading, all over the world, to far-reaching health and safety measures. As a result, the COVID-19 crisis has major social and economic consequences. Measures are being adopted to limit the impact on taxpayers as much as possible. ... - Continue reading

7 Ways You’re Accidentally Committing Tax Fraud

Not every fraud artist is a sketchy identity thief or faux Nigerian prince from the dark corners of the internet. In fact, you might end up committing accidental tax fraud or accidental tax evasion yourself if you don’t pay careful attention during this tax season. ... - Continue reading

Croatia to initiate tax treaty negotiations with the United States

The government of the Republic of Croatia, on September 30, adopted a decision to initiate proceedings to conclude a convention with the United States on the avoidance of double taxation and the prevention of tax evasion with respect to taxes on income. ... - Continue reading

OECD publishes model rules for tax reporting by gig economy platform operators

On 3 July, the OECD released model rules for tax reporting by platform operators that assist sellers in the sharing and gig economy. Following international efforts to address the tax challenges in the digital economy, this OECD guidance represents an important step towards transparency through the exchange of information. ... - Continue reading

Fiji Institute of Accountants concerned about cybercrime, money laundering

SUVA, Oct. 7 (Xinhua) — The Fiji Institute of Accountants (FIA) said Monday they are concerned about the increase in money laundering and cyber-crime activities in the island nation. According to Fiji Broadcasting Corporation (FBC), while presenting before the Standing Committee on Economic Affairs, the Fiji Institute of Accountants President… – Continue reading

Switzerland: Italian Tax Authorities Request Information From Switzerland On UBS Bank Customers

In the past ten years, Switzerland has undertaken significant efforts to combat international tax fraud and tax evasion and to fight for the strict observance of foreign tax laws. In order to do so, a number of tax laws were enacted, allowing Switzerland to comply with international standards issued by the OECD (acting on behalf of the G20). In this respect, Switzerland ratified the Multilateral Convention on Administrative Assistance originally issued by the CoE and the OECD in 1988 and amended in 2011 ("OECD MC"), and it renegotiated numerous Double Taxation Conventions ("DTC"), amongst them also the DTC with Italy, in order to comply with the international standard introduced by the OECD MC in the version of July 2010. ... - Continue reading

First 18 months crucial for tax reforms — Dominguez

On the sidelines of the Bureau of Internal Revenue’s anniversary celebration, Finance Secretary Carlos G. Dominguez III emphasized that the first 18 months of the current Congress is crucial for the Duterte administration’s comprehensive tax reform program (CTRP). According to Dominguez, lawmakers traditionally have the tendency to focus “on something… – Continue reading

Taiwan to join anti-tax evasion program CRS

Taiwan expected to share financial information with Japan and Australia in 2020 TAIPEI (Taiwan News) – Taiwan is expected to exchange financial information with a number of countries in September of next year as part of the Common Reporting Standard (CRS) program designed to combat tax evasion. Developed by the… – Continue reading

Experts convene in the City of London to call out ‘pin stripe mafia enablers of tax abuse’

Researchers and campaigners from around the world have been presenting radical solutions on tackling tax abuse and financial crime at the Tax Justice Network’s annual conference held in the heart of London’s finance centre, on 2 – 3 July 2019. With over 200 attendees including prominent politicians, whistleblowers and economists,… – Continue reading

M. Venkaiah Naidu calls upon all nations to join hands for automatic exchange of information on black money

The Vice President of India, M. Venkaiah Naidu has called upon all nations to join hands in ensuring automatic exchange of information on black money and speedy extradition of economic fugitives. Shri Naidu asserted that all countries must speak with one voice to eliminate terror and economic frauds. “As we… – Continue reading

India: Bombay High Court Quashes 197 Order Rejecting Mauritius Tax Treaty Benefits

High Court sets aside section 197 order due to absence of prima facie evidence of tax avoidance Rejects factors such as lack of business activities and administrative expenses as conclusive of sham transactions Holds that a detailed inquiry can be conducted during normal assessment Directs refund of withheld tax subject… – Continue reading

Anti-Money Laundering Software Market to Generate the Revenue of US$ 4,262.0 Mn by 2026

Companies, especially in the financial services industry are investing in the anti-money laundering software to effectively track the transactions and eliminate the risk of fraudulent. Companies offering anti-money laundering software are also focusing on providing effective and efficient software including currency transaction reporting software, transaction monitoring software, compliance management software,… – Continue reading

Ex-soccer player among 9 held on suspicion of laundering millions

Also arrested is a former senior local council figure suspected of advancing interests in return for benefitsFour people were arrested and five detained for questioning in connection with the suspected international laundering of millions of shekels over a long period, police said Sunday. The four include a former senior elected… – Continue reading

48 KRA officers wanted for bribery, tax evasion

48 Kenya Revenue Authority (KRA) officials were Monday morning expected at the Directorate of Criminal Investigations (DCI) headquarters on Kiambu road for questioning. The individuals include 32 officers from KRA’s Domestic Taxes Department, 15 from the Customs and Border Control Department and one from the Investigations and Enforcement Department. They… – Continue reading

Court of BiH confirmed the Indictment to One Person for Tax Evasion in Amount of Half a Million BAM

On 11 February 2019 the Court of Bosnia and Herzegovina confirmed the indictment in the case of Selman Husejin et al. charging the accused Selman Husejin with the continued criminal offense of Tax Evasion or Fraud under Article 210(4) as read with Paragraph 1, and Article 54 of the Criminal… – Continue reading

Philippine FIU Seeks an End to Bank Secrecy Law

The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds. The Philippine AMLC (Anti-Money Laundering Council) is seeking additional powers to combat financial crime as part of the BSP… – Continue reading

Metro Vancouver developer and builder sentenced for tax evasion

A developer and builder based in Anmore has been found guilty of tax evasion and making false statements under the Income Tax Act, the Canada Revenue Agency (CRA) announced on Friday. According to the CRA, Willi Isaak was sentenced to pay a $23,100 fine, after being found guilty on two… – Continue reading

Australia establishes agreement with Taiwan on tax and finance transparency

Taiwan implemented ‘Common Reporting Standards’ in 2019, now recognized by Japan and Australia TAIPEI (Taiwan News) – On April 22, the Ministry of Finance (MOF) announced Australia had officially agreed to accept Taiwan as a Common Reporting Standards (CRS) partner nation in matters of financial and legal transparency related to… – Continue reading

Assad’s uncle ‘Butcher of Hama’ to stand trial on graft charges in France

Assad’s uncle ‘Butcher of Hama’ to stand trial on graft charges in France The uncle of Syria’s Bashar al-Assad is to stand trial in France on charges of building up a big property empire in the country using funds from Syrian state coffers, legal sources said on Wednesday. An investigating… – Continue reading

EU passes legislation protecting whistleblowers to encourage wrongdoing

Whistleblowers across the European Union have won greater protection under landmark legislation aimed at encouraging reports of wrongdoing. The new law, approved by the European Parliament on Tuesday, shields whistleblowers from retaliation. It also creates “safe channels” to allow them to report breaches of EU law. It is the first… – Continue reading