Category: Tax Haven
New proposition threatens California’s real property tax haven
Homeowners have seen their houses appreciate in value dramatically in most parts of the country over the past several decades, and in most cases, the assessed value for real property taxes has kept pace with the rise in the real value of the property itself. But not in California. The… – Continue reading
Slovak companies are interested in tax havens. Their number continues rising
Hundreds of Slovak companies have moved their headquarters to tax havens since the beginning of the year. Currently, 5,268 Slovak companies reside in countries with tax advantages, as stems from an analysis of the Bisnode consulting company. The number of companies in tax havens rose again in the second quarter… – 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
TAX HAVEN COMPANIES NOT EXCLUDED FROM DUTCH STATE AID
Due to the new pandemic, many countries throughout the world are offering tax relief to their businesses. Unlike a few countries though, Netherlands is not excluding its companies from its government assistance program despite their tax benefits from tax havens. ... - Continue reading
UN launches panel to tackle illicit finance
The United Nations has launched the High-Level Panel on Financial Accountability, Transparency and Integrity (FACTI) to address corporate tax abuse and other illicit financial flows. ... - Continue reading
UN forms panel to help battle tax evasion, money laundering
Thought leaders from across the globe on Monday joined a UN panel tasked with making recommendations to fix the financial system that lacks effective ways to deal with tax evasion, tax avoidance, money laundering and corruption. The High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030… – Continue reading
World Bank aid ‘leakage’ may flow to tax havens: study
“Our estimates suggest a leakage rate of around 7.5 percent for the average highly aid-dependent country,” the study concluded. ... - Continue reading
Cayman tops ranking of money hideouts
Cayman is now the top enabler of financial secrecy in the world, according to the findings from the Tax Justice Network’s Financial Secrecy Index 2020. In second and third place respectively, were the United States and Switzerland. The Tax Justice Network has called on policymakers to prioritise sanctions against Cayman… – Continue reading
Dominican Republic updates transfer pricing documentation thresholds, tax haven list
What's new about Dominican Republic's tax laws? Here's more. ... - Continue reading
British Tax Havens to Share Data With Russian Authorities
The Automatic Exchange of Information still going on strong it seems. ... - Continue reading
Netflix accused of funnelling £330million profits ‘into tax havens’
According to TaxWatch, Netflix’s corporate structure is an enabler of tax avoidance. ... - Continue reading
Panama stays on French tax haven list
Panama stays stuck onto France's blacklist. ... - Continue reading
EU to roll out sanctions against blacklisted jurisdictions
The EU has approved a plan to impose financial sanctions on countries or jurisdictions on the bloc's tax haven blacklist by the end of 2020. ... - Continue reading
How major tech companies exploit tax laws: A focus on Ghana and Nigeria
When World Trade Organisation (WTO) officials designed the territorial taxing rights back in the 1920s, not many people imagined that a century later; these guidelines would still underpin the international tax system. Today, highly digitalised companies such as Facebook and Google are able to operate internationally from their tax havens,… – Continue reading
HMRC drops further £5m from Rangers tax claim
HMRC's claim against the company which owned Rangers has fallen again, according to the latest report from liquidators BDO. ... - Continue reading
EU divided over definition of “tax paradise”
A policy proposal presented by the Danish government last week calls for a wider scope in the operative definition of tax avoidance and tax evasion. ... - Continue reading
EU to Consider Tougher Tax Haven Listing
Instant additions to EU's blacklist? ... - Continue reading
Amazon most ‘aggressive’ in $100bn global tax avoidance
Amazon has been accused of being the most ‘aggressive’ in avoiding tax, compared with other tech giants, by tax transparency campaign group Fair Tax Mark. ... - Continue reading
EU removes UAE, Switzerland from tax haven lists
EU removes UAE, Switzerland from tax haven lists Share this storyEU removes UAE, Switzerland from tax haven lists LUXEMBOURG — European Union finance ministers agreed to remove the United Arab Emirates (UAE) and Switzerland from the bloc’s lists of countries deemed to be acting as tax havens, according to a… – Continue reading
Indirect linkages to Tax Havens
According to the most current Federal Tax Compliance Research Report, there is an estimated US Net Tax Gap (Tax Not Collected) of $406 Billion. ... - Continue reading
Which Countries Are Considered The Top Corporate Tax Havens?
When multinational companies look to open up a new subsidiary or a regional headquarters, they tend to prefer certain countries due to their favorable tax policies. ... - Continue reading
EU to remove Belize from tax haven blacklist this week
European Union finance ministers are set to remove the Central American country of Belize from the bloc's blacklist of tax havens in a meeting this week, an EU document said. ... - Continue reading
European Union: UAE Removed From EU Tax Haven Blacklist Along With Switzerland
The United Arab Emirates and Switzerland removed from European Union's list of non-cooperative jurisdictions for tax purposes on October 10. ... - Continue reading
EU to remove UAE and Switzerland from tax blacklist
The United Arab Emirates and Switzerland are set to be removed from a European Union blacklist of countries deemed to be tax havens, according to a Reuters report citing an official document. Switzerland has delivered on its commitments, the document said, acknowledging that a tax reform passed last year –… – Continue reading
Brazil: Brazilian Tax Review – August 2019
After 20 years of negotiations, the European Union and Mercosur have moved forward with the free trade agreement between the two blocs. ... - Continue reading
Canadians for Tax Fairness concerned about inaction on Panama Papers
It is estimated that the use of tax havens is costing federal and provincial governments at least $7.8 billion in lost tax revenue. Low and middle income Canadians are the ones paying for that missing $7.8 billion in tax revenue. Ottawa (11 Aug. 2016) — The leak of the Panama… – Continue reading
CRS reveals Australians holding $100bn in offshore accounts: reports
Australians are holding more than $100bn in undisclosed offshore accounts, according to new taxation office data collected under the Common Reporting Standard (CRS), British newspaper the Guardian has reported. ... - Continue reading
UK: HSBC Is Paying Hundreds Of Millions To Settle Tax Fraud Allegations
HSBC's Swiss private banking arm has agreed to pay nearly 300 million euros to settle a tax fraud case in Belgium. The settlement comes six months after a French court ordered another Swiss lender, UBS, to pay 4.5 billion euros for illegally solicitin ... - Continue reading
Mauritius leaks latest reminder of how much we lose to tax havens
Mauritius leaks latest reminder of how much we lose to tax havensA report by Canadians for Tax Fairness Bay Street and Tax Havens revealed how over 90% of Canada’s largest corporations have subsidiaries in tax havens. Ottawa (06 Aug. 2019) — Last month Canadians for Tax Fairness reported that, while… – Continue reading
Mauritius leaks: Big firms leveraging legal loopholes to save taxes can cost developing countries $100 bn every year
Proposals made by Nirmala Sitharaman at G20 Summit could alter the stasis between large corporations and tax havens. ... - Continue reading
Journalists publish details of 200+ companies using offshore law firm, conclude Mauritius promotes tax avoidance
Data on more than 200 companies that engaged the Mauritius office of Conyers Dill & Pearman were published on the internet today by the International Consortium of Investigative Journalists (ICIJ) as a result of leak of confidential information. ... - Continue reading
CIAT releases detailed proposals aimed at stopping transfer pricing abuse
The Inter-American Center of Tax Administrations (CIAT), on July 15, released comprehensive and detailed proposals aimed at preventing abusive transfer pricing in low-income countries and in countries on the path to development. ... - Continue reading
Transfer (mis)pricing
TRANSFER pricing — the pricing of commodities traded between or within multinational enterprises — is a legal practice and a key feature of cross-border and intra-firm transactions. The United Nations prefers to use the broader phrase ‘trade pricing’ in addressing this practice and defines it as a ‘normal incident of… – 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
The American Bar Association is fighting Washington’s efforts to tackle money laundering
This legislation will force owners of US companies to reveal their identities. ... - Continue reading
UK dependencies to reveal company ownership amid tax haven crackdown
The three British Crown Dependencies - Jersey, Guernsey and the Isle of Man - said on Wednesday they would move to reveal publicly the true ownership of firms based in their jurisdictions, a change welcomed by anti-corruption campaigners. ... - Continue reading
