MADRID, July 12 (Xinhua) — Barcelona and Spanish international center half Gerard Pique has been told to pay 2.1m euros by the Tribunal Economico-Administrativo Central in Madrid. Pique had been found guilty of tax evasion around the profit he made from his image rights from 2008 to 2010 but decided… – Continue reading
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
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
6 July 2019: In the lead up to the Group of 20 (G20) Finance Ministers and Central Bank Governors’ Meeting, the Organisation for Economic Co-operation and Development (OECD) released data that show that automatic exchange of information on financial accounts is improving tax compliance and delivering concrete results for governments… – Continue reading
The Senate is backing a government plan to run after tens of thousands of Chinese workers in the country who have not been paying income tax ... - Continue reading
A Hanoi lawyer famous for taking on high-profile cases could find himself in the dock for abetting tax evasion. Police in the central province of Khanh Hoa on Tuesday launched an investigation and searched the residence and offices of Tran Vu Hai, 57, head of Tran Vu Hai Attorney Office,… – Continue reading
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
SEJONG, July 1 (Yonhap) — South Korea’s new tax chief vowed Monday to cut the number of probes into companies to ensure their normal business operations will not be undermined. National Tax Service Commissioner Kim Hyun-jun also said in his inaugural ceremony that the tax agency will cut the ratio… – Continue reading
The Bureau of Internal Revenue filed Thursday separate criminal cases against 15 business taxpayers in Metro Manila for alleged refusal to pay tax debts totaling to more than P493 million. This brought to 482 the number of tax evasion charges lodged by the bureau under its Run-After-Tax-Evaders (RATE) program under… – Continue reading
Unscrupulous agents based in Dubai and China are behind the pile-up of cargo at the Nairobi Inland Container Depot (ICD) even as it emerged that this is also a ploy to evade taxes. People Daily yesterday established that small-scale traders using these agents to consolidate their cargo in one container… – Continue reading
ISLAMABAD: Terming Indian model as good to replicate Foreign Exchange Management Accounts (FEMA) in case of Pakistan, Chairman FBR Shabbar Zaidi said that $40 billion was remitted out from Pakistan, so there was need to bring changes in existing Pakistani laws related to management of foreign exchange. He pointed out… – Continue reading
The European Union has removed the Caribbean island of Dominica from its list of uncooperative jurisdictions in tax matters. Dominica changed its tax rules to comply with EU requirements meant to reduce the risks of tax evasion, the EU said in a statement. Dominica implemented its commitments and addressed EU… – Continue reading
The federal government has decided to go after offshore tax evaders, laying out a number of propositions that would effectively criminalise the process and introduce heavy punishments for tax evasion. The proposed tightening of income tax laws would mean that anyone found guilty of evading taxation through foreign banks accounts… – Continue reading
In brief – Beneficial ownership toolkit aims to help governments implement legal and supervisory frameworks to identify and collect beneficial ownership information Beneficial ownership is a critical issue in many areas of law, in particular tax and anti-money laundering. National authorities often struggle to keep up with private ingenuity in… – Continue reading
The Court of Tax Appeals (CTA) has dismissed the more than P30 million tax evasion charges filed against a businesswoman for the failure of Bureau of Internal Revenue (BIR) to prove that the offense was willful. Acquitted of two counts of tax evasion was Analiza San Miguel David, operator of… – Continue reading
The prime minister is seeking to end Pakistan’s rampant tax evasion as he secures a major IMF bailout. Only about 2 million tax returns are filed in Pakistan annually. Pakistani Prime Minister Imran Khan, who ran on a campaign of tackling corruption, gave a televised address on Monday calling on… – Continue reading
Minh Phu Seafood JSC, one of Vietnam’s biggest shrimp processors, is suspected of selling imported Indian shrimp to evade anti-dumping tariffs. On May 12, Illinois representative Darin LaHood said he had received an email petition accusing Minh Phu of evading anti-dumping duties on Indian shrimp in the U.S. The email… – Continue reading
National Board of Revenue is building up profiles of the multinational companies operating in the country for the purpose of conducting audits on the MNCs’ accounts to prevent tax evasion through misuse of transfer pricing system. Transfer Pricing Cell (TPC) of NBR is also conducting risk assessment of the companies’… – Continue reading
A former television newsreader has denied she deliberately withheld more than $1.8 million in GST payments during a lucrative career of property development in Melbourne. Simone Semmens, who is on bail, faced a County Court of Victoria trial on Monday after pleading not guilty to 10 charges of dishonestly withholding… – Continue reading
In the last decade, OECD officials have recommended measures to combat tax avoidance, culminating first in the BEPS (Base Erosion and Profit Shifting) initiative in 2015 and then the MLI (Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS) effective from July 2018 – yet have all their… – Continue reading
The government is likely to introduce third-party information system from the next financial year to check tax evasion as part of the government aim to mobilise half of the total revenue from income tax by 2020-21. Officials said that of the introduction of the system is likely to be proposed… – Continue reading
The Bureau of Internal Revenue (BIR) filed on Thursday tax evasion charges against five corporate taxpayers under the jurisdiction of the Quezon City revenue region for alleged refusal to pay tax debts totaling to more than P71 million.The criminal complaints filed before the Department of Justice (DOJ) brought to 454… – Continue reading
Governments are stepping up efforts to recoup more tax from multinationals, with the European Commission forcing iPhone maker Apple to repay 13 billion euros after it used Ireland to cut its tax on European profits to almost zero. The Tax Justice Network, a group campaigning for transparency, said its study… – Continue reading
Kenya Tobacco Control Alliance KETCA has today called upon the government to prioritize regulations that enable the maximization of corporate tax revenue from British American Tobacco (BAT) Company. The KETCA Chairman, Joel Gitali said that BAT avoids paying full corporate taxes which would have been used for public services like… – Continue reading
A Lagos State prosecutor, Y. A. Pitan, has told an Igbosere High Court in Lagos that former Super Eagles captain, Austin Okocha, has not liquidated the alleged tax debt he owed the state. Mrs Pitan told Justice Adebayo Akintoye on Tuesday that Mr Okocha had visited the Lagos Internal Revenue… – Continue reading
Policy tweaks curb evasion, show India can woo investments without sops Singapore, another major FDI contributor to India, too, enjoyed the same tax sops under a similar treaty with India NEW DELHI: For about a decade-and-a-half, revenue authorities examining foreign investment proposals received by the erstwhile Foreign Investment Promotion Board… – Continue reading
LAHORE: The failures in documentation have more to do with the attitude of the tax machinery than all other factors. The system has been designed in a way to loot some with double taxation and spare those who pay no taxes. Take for instance the withholding tax collected on electricity,… – Continue reading
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
Detectives on Wednesday night arrested three Chinese nationals for evading to pay tax to Kenya Revenue Authority (KRA) amounting to Sh58 million. The three, Pi Ning, Li Hua and Hu Bin, are directors of Electric Tools Kenya Limited. The suspects, who are being held at the Railway Police Station, will… – Continue reading
After years of deliberation and debate spanning two administrations, the Tax Information Exchange (United States of America) Bill, 2016, also known as the Foreign Account Taxpayer Compliance (FATCA) Bill was passed in the Senate on March 7, 2017. This following its unanimous passage in the House of Representatives, two weeks… – Continue reading
ISLAMABAD: Pakistan and Bulgaria on Tuesday signed an agreement to get rid of double taxation and cooperate in preventing tax evasion as a state delegation from the European Union member country concluded its two days visit. The Federal Board of Revenue (FBR) Director General and Deputy Minister of Economy Bulgaria… – Continue reading
India gaming giant Delta Corp. saw a substantial selloff if its shares last week after reports started surfacing that the country’s government could be investigating the company for possible tax evasion. Only on Friday, the amount of shares dropped 12% as shareholders became nervous and started looking at ways to… – Continue reading
In our April 21 article, we discussed Revenue Regulations (RR) 4-2019, the implementing rules and regulations covering the Tax Amnesty on Delinquencies (TAD) under Republic Act 11213, the “Tax Amnesty Act of 2019.” The regulations took effect on April 24, 2019. Under the TAD, any person may enjoy the benefits… – Continue reading
Finance minister AHM Mustafa Kamal has said that the foreign companies will be required to have local partners for doing business in Bangladesh as the government wants to bring them under the tax net. ‘No foreign company can do business alone here any longer,’ he told reporters on Thursday after… – Continue reading
The Republic of Cyprus and Kazakhstan signed on Wednesday a Convention for the Avoidance of Double Taxation and for the combating of Tax Evasion with respect to taxes on income. According to a press release issued by the Public Information Office, the Convention was signed in Nursultan, Kazakhstan, by the… – Continue reading
Financial institutions should be able to leverage existing financial crime compliance, conduct and tax (including tax transparency regimes) procedures and controls, to address the risks of customer tax evasion. The Wolfsberg Group has published new guidance on customer tax evasion, designed to help financial institutions in developing, implementing and maintaining… – Continue reading
The government has approved the creation of tax residency certificates for permanent residents so they can prove compliance with other countries’ laws, a Cabinet Minister said yesterday. Brent Symonette, minister of financial services, trade and industry and Immigration, told the Society of Trust and Estate Practitioners (STEP) Caribbean Conference that… – Continue reading
TUNIS, May 13 (Xinhua) — Tunisia and the United States signed on Monday an agreement to improve international tax compliance and mutual cooperation in the field of taxation, Tunis Afrique Presse reported. The agreement was signed by Tunisian Minister of Finance Ridha Chalghoum and U.S. Ambassador to Tunisia Donald Blome… – Continue reading
The Court of Tax Appeals (CTA) has cleared a model and talent promoter of tax evasion charges because the Bureau of Internal Revenue’s (BIR) final assessment notice (FAN) did not mention the date when the alleged deficiency taxes should be paid. The BIR filed the case after its national investigation… – Continue reading
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
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
A former chiropractor who evaded paying more than $500,000 in income taxes and didn’t report a Russian bank account where he deposited more than $1.5 million is now headed to prison. Federal prosecutors say Carlo Amato received a five-year sentence Tuesday. The 57-year-old Beachwood man owned and operated a Lakewood… – Continue reading
The owner of an Albuquerque jewelry store is facing up to five years in prison after pleading guilty to tax evasion. Prosecutors say 76-year-old David Castle was indicted in February 2018. Castle owns and operates the Gold and Silver Exchange that buys, sells and repairs jewelry. In his plea agreement… – Continue reading
Karel De Gucht, former federal minister and European commissioner, has lost a legal battle with the tax authorities over what they claimed was tax evasion. The tribunal of first instance in Ghent was ruling on a dispute between De Gucht and his wife Mireille Schreurs on one side, and the… – Continue reading
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
NEWARK – The owner of a Woodbridge business that sold automotive industry warranty products has been indicted by a federal grand jury on three counts of tax evasion and three counts of filing false tax returns Danny Silva, of Woodbridge, owned an automotive industry business that sold warranty products which… – Continue reading
Corporate influence at the EU level needs to be reined in, LobbyControl has warned. Businesses have been accused in its latest report of using incredible lobbying power to advance their own interests. LobbyControl on Monday accused the European Union of doing too little to combat corporate influence. A new report… – Continue reading
As per the agreement, it is intended to provide relevant and reliable information to perform an efficient and robust transfer pricing risk assessment analysis. Aimed at providing relief to subsidiaries of US multinationals and ensuring a check on cross-border tax evasion, India has notified the inter-governmental agreement with the United… – Continue reading
PF deputy media director Antonio Mwanza says if former Post newspaper editor-in-chief Dr Fred M’membe was in America, he would have been in jail, by now, for tax evasion. And Mwanza says opposition political parties come short of blaming the Pope when they lose elections. Meanwhile, National Democratic Congress (NDC)… – Continue reading
