Now that’s what I call a Big Tax Case A long running court case that has become known as the ‘Big Tax Case’ appears to be reaching a conclusion. It involves Scottish football club Rangers, who went bust in 2012. After it failed, a new company was created. It bought… – Continue reading
Paul Singer has a good track record as a money manager. In 1995, he bought $20 million worth of Peruvian debt at a discounted price of $11.4 million, then forced Peru’s government, through lawsuits, to eventually pay nearly five times his initial investment — some $58 million. In 2002 and… – Continue reading
The government has been accused of opening a loophole that allows super rich individuals and multinational companies to avoid taxes. The Tax Justice Network (TJN), a lobby group, has sued the government over agreements, which it says are robbing Kenya of the ability to raise revenues domestically, driving the country… – Continue reading
GOMA, DEMOCRATIC REPUBLIC OF CONGO—The Democratic Republic of Congo’s biggest-ever corruption probe was called off without an official explanation, according to both a Congolese lawmaker and a government spokesman. Investigators were looking into fraud that may have cost the government more than $3 billion. It was an investigation of alleged… – Continue reading
FEW tax hikes have been timed so badly – and retracted so fast – as that imposed on mineral royalties by Zambia’s President Edward Lungu in January. After threats of divestment from major mining houses and an outcry from the country’s Chamber of Mines, the massive hike in royalty taxes… – Continue reading
International Christian groups are hailing a report demanding fresh solutions to tax dodging by multinational companies. The World Council of Churches and the UK’s Christian Aid cite researchers from the International Monetary Fund who say tax rules could be costing developing countries $212 billion a year. The report, from the… – Continue reading
Tax Treaty Details Become Available The details of the Income Tax Treaty between Mauritius and the Republic of Congo have become available. The treaty will come into force after the two countries exchange ratification instruments. The provisions of the treaty will have effect from 1 January of the calendar year… – Continue reading
DIAMOND mining companies operating in Zimbabwe’s Marange diamond fields are reportedly on a last minute looting spree ahead of a loathed mandatory consolidation exercise. As government peruses through various consolidation proposals submitted by seven companies operating in Marange and prepares for an audit, miners are reportedly exploiting the existing loopholes… – Continue reading
The Cayman Islands, an important international business competitor for Bermuda, is expressing “consternation” that they have been included on a new list of high risk jurisdictions for financial crime. There are a total of 95 countries listed including Brazil, Afghanistan, Cuba, Russia, China, Iraq, the Republic of Congo and Jamaica…. – Continue reading
