India will start charging income tax on digital economy firms, such as Facebook, Twitter and Uber, soon after the OECD finalises a framework by April 2015 to tackle the widespread corporate practice of shifting of profits to low-tax countries, government officials said on Wednesday. Tax may be levied on overseas… – Continue reading
Papers show firms used internal loans and interest payments to cut tax bills Leaked tax documents show arrangements were signed off by EU state They are legal, but are predicted to trigger calls to stop firms avoiding taxes British companies using scheme include Dyson and drugs group Shire Some of… – Continue reading
In a recent Senate Estimates hearing, Greens Senator Christine Milne probed ASIC representatives to explain why they consider Facebook Australia a ‘small’ company, especially considering the parent organisation is worth a staggering $US33.3 billion. Facebook Australia is a ‘small’ company by its own determination and it is registered as such… – Continue reading
Christine Milne says Australian Securities and Investments Commission should target ‘smaller enterprise’ exemption Facebook Australia has not lodged annual accounts since 2009 because it says it is a smaller enterprise and exempt from having to file. Photograph: Jonathan Nackstrand/AFP/Getty Images The Greens are calling on the Australian financial services watchdog… – Continue reading
Facebook was today facing a fresh row over offshore tax avoidance as UK accounts showed it paid no corporation tax for the second year in a row while granting shares worth tens of millions of pounds to London staff. Research firm eMarketer estimates Facebook’s London operation in Euston made £371… – Continue reading
American technology companies are suddenly living in fear. European governments are finally standing up to the power of these giants that are happy to talk about the benefits their digital products and services bring to society while being accused of not paying their fair share of corporation tax, not doing… – Continue reading
George Osborne, the Chancellor of the Exchequer over here in the UK, has just announced at the Conservative party conference that he’ll be changing the tax laws to make sure that Google GOOGL +0.16% and other tech multinationals (Facebook, Microsoft MSFT -0.17%, possibly Apple AAPL +0.64%, among them) end up… – Continue reading
Google Inc (NASDAQ:GOOGL) and Facebook Inc (NASDAQ:FB) are conducting their business operations in India. Former BJP leader, Govindacharya has filed a case, raising concerns against the usage of e-mail services by offshore providers for official purposes by government officials. His Public Interest Litigation (PIL) also mentioned the tax evasion by… – Continue reading
The Delhi High Court has sought clarification from the Union Government on the issue of tax evasion by Internet companies with regard to their business operations in the country. The Court also asked whether the recipients of services would be liable to pay tax if the service provider was outside… – Continue reading
Twitter is the latest major internet multinational to have opened up a Spanish subsidiary. But the popular micro-blogging site has followed in the footsteps of Google, Apple, Facebook and Linkedin, all of whom keep their Spanish corporate taxes down to the bare minimum by shifting their income to Ireland. Created… – Continue reading
With all the talk about inversions and America’s Burger King Going Canadian, it’s easy to ignore even more prevalent tax savings by numerous American companies. Take Microsoft, which admits in its 2014 SEC filing that it avoids $30 billion in U.S. taxes. The trick? Keep about triple that amount, $93… – Continue reading
Northern Ireland looks set to be handed the power to slash corporation tax in a move with the potential to significantly boost our stuttering economy. In a development which could transform international investment, senior sources in London and Belfast predict that an announcement will be made no later than October… – Continue reading
NEW YORK – According to industry insiders there is a battle waging over Software-Defined Networking (SDN) that is a way to build corporate networks without the networking gear built by companies such as Cisco (NASDAQ:CSCO) and Juniper Networks (NYSE:JNPR). The battle pits network equipment manufacturers against a string of companies… – Continue reading
LONDON — They are the most expensive and luxurious flats in the whole of London. Their ultramodern bay windows offer an unobstructed view onto Hyde Park. An underground corridor connects them to the Mandarin Oriental, the palace where Michelin-starred chef Heston Blumenthal has one of his prized restaurants. In total, the… – Continue reading
OECD tax director Pascal Saint-Amans has played down concerns that the United States might resist plans to make multinational companies such as Apple and Starbucks pay more tax, arguing that governments must move quickly to close multibillion-dollar loopholes or risk ordinary citizens losing faith in their taxation systems. Mr Saint-Amans… – Continue reading
The Brazilian government has been trying to catch up on a number of areas of the digital economy, one of them being online cross-border taxation – but not without controversy. During the Mobile World Congress (MWC) last month, the Brazilian communications minister Paulo Bernardo said Brazil is a “tax haven”… – Continue reading
Authorities aren’t waiting for new reporting laws to go into effect to track down Americans who they say owe money The US needs money — and it’s willing to go to the ends of the earth, including Israel, to track down deadbeats who are evading their taxes. Israel was named… – Continue reading
The U.S. Senate Permanent Subcommittee on Investigations will hold a hearing on a crackdown on offshore tax evasion that has stalled as prosecutors conduct criminal probes of 14 banks, including Credit Suisse Group AG. (C:US) The hearing will focus on “the status of efforts to hold Swiss banks and their U.S. clients… – Continue reading
The days of multinational companies being able to use the Double Irish Dutch Sandwich to avoid taxation may soon be coming to an end, with the G20 group of nations looking to create a reporting standard to allow for automatic exchange of tax information. In the official communique coming at the end… – Continue reading
The Isle of Man is kind of like the United Kingdom’s version of the Caymen Islands. Technically it’s a crown dependency, and the British government is responsible for its defense and foreign relations. But it’s also completely self-governing with one of the oldest Parliaments in the world. The “island administration,” which… – Continue reading
