Google to pay A$481.5m in major win for Australian Tax Office
Search engine giant’s settlement brings to A$1.25bn the amount collected from ecommerce players ... - Continue reading
Category: Tax evasion investigations
Shell reveals it paid no UK corporate income tax in 2018
And one more case of tax avoidance by a giant. ... - Continue reading
Kazakhstan to accede to convention against tax evasion
Kazakhstan will accede to the Convention on Mutual Administrative Assistance in Tax Matters. ... - Continue reading
Singapore: Singapore’s New Transfer Pricing Requirements
What you need to know if you conduct business in Singapore. ... - Continue reading
Details of 1.89 mil. overseas bank accounts received
The Common Reporting Standard (CRS) allows the tax authority of Japan to detect 1.89 hidden bank accounts overseas. ... - Continue reading
ATO data reveals one third of large companies pay no tax
Of 2,214 entities covered by the Australian Taxation Office (ATO) data for 2017-18, 710 did not pay any tax. ... - Continue reading
Nigeria: 15 Insights On Transfer Pricing In Nigeria
Clarifications on the role of transfer pricing in Nigeria ... - Continue reading
FBR Warns UAE To Share Details Of Iqama Holders Or Avoidance Of Double-taxation Treaty Be Terminated
Pakistan gives warning over transparency to UAE ... - Continue reading
HSBC Swiss unit to pay $192 mln in latest U.S. tax evasion deal
Trouble for the Swiss private banking unit of HSBC Holdings Plc HSBA.L. ... - Continue reading
Deutsche Bank slapped with €15m fine in money laundering case
German authorities raided Deutsche Bank's offices, including its Frankfurt base, in connection with the probe in 2018. ... - 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
Greece forces citizens to spend more online in tax evasion crackdown
Greeks will be forced to spend around a third of their income using electronic means if they want to avoid substantial fines designed to stamp out rampant tax evasion. ... - Continue reading
A Run Through On Tax Evasion By Bitcoin Criminals
A report released by the Internal Revenue Service (IRS) has put quite some focus on Bitcoin’s scope for committing tax evasion ... - Continue reading
IRS touts 91% conviction rate for its 2019 tax crime cases
The Internal Revenue Service has a message for tax criminals: "We will not stop in our pursuit." ... - Continue reading
BEPS Changes To Nordic Double Tax Agreement To Take Effect
The double tax agreement between the Nordic countries will be updated with new anti-tax base erosion and profit shifting provisions with effect from January 1, 2020. ... - Continue reading
44% Rise in Requests from Foreign Prosecutors to UK for Help Investigating Tax Crimes
OECD has recently announced new proposals to help countries tax corporate incomes more effectively. ... - Continue reading
HMRC lacks staff to investigate over 5.7 million offshore tip-offs
HMRC under an overload of information. ... - Continue reading
Global Forum marks success fighting tax evasion
OECD announces "unprecedented success" in the fight against tax evasion. ... - Continue reading
US FATCA crackdown pushing demand for tax advice
As the US IRS cracks down on tax avoidance overseas with FATCA, the number of Treasury-licenced tax advisers with addresses outside of the US has jumped about 50% since 2016 according to figures from the agency. ... - Continue reading
Cabinet approves pact on avoidance of double taxation with Chile
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. ... - Continue reading
Tax evasion arrests down 11 per cent
The number of arrests made in the UK for suspected tax evasion has dropped to the lowest level in five years ... - 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
OECD seeks feedback on the effectiveness of 13 countries’ cross-border tax dispute resolution processes
Taxpayers are invited to submit comments on their experiences by December 16 through filling out a taxpayer input questionnaire. ... - Continue reading
OECD releases 2500+ pages of public comments to its pillar one “unified approach” for taxing multinationals
The OECD on November 15 published more than 300 comment letters that respond to its request for feedback on the Secretariat’s proposal for a “unified approach” to pillar one. ... - Continue reading
Ukraine- President signs law on ratification of tax treaty with Cyprus
Double taxation agreement signed between Ukraine and Cyprus ... - Continue reading
India, Switzerland call for greater information exchange in tax matters
The first transmission of financial account information on automatic basis between the two countries took place in September 2019 for enhanced cooperation in the fight against tax evasion. ... - Continue reading
RenTech’s Billion-Dollar Tax Cloud Darkens After IRS Ruling
A little-noticed decision by the Internal Revenue Service’s appeals unit may spell trouble for legendary investor Jim Simons, who’s embroiled in a multibillion-dollar tax dispute with the agency. ... - Continue reading
Panama Papers and the ‘thin line’ for legal tax dodging
In the wake of the Panama Papers, thousands of taxpayers around the world received notices from their respective tax authorities seeking clarifications, issuing fines, or requesting payment of taxes dodged. ... - Continue reading
Extended tax liabilities for directors in insolvencies linked to tax avoidance
Draft legislation included in the Finance Bill 2019-2020 will potentially make directors and certain other individuals closely connected to a company jointly and severally liable for a company’s tax liabilities that arise from avoidance, evasion or repeated insolvency and non-payment of tax debts or tax-related penalties of the company. ... - Continue reading
Cyprus: Substance – From Corporate Tax Perspective And Other Factors
Substance is vital when it comes to the tax residency of companies and their management and control aspect. ... - Continue reading
Cambodian parliament ratifies double taxation avoidance pact with China’s Hong Kong
PHNOM PENH, Nov. 4 (Xinhua) — The Cambodian parliament on Monday ratified an agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income that the country had signed with China’s Hong Kong Special Administrative Region (HKSAR). Ruling Cambodian People’s Party’s 110… – Continue reading
HMRC readies crackdown on HNW offshore fund holders
Wealthy UK offshore fund holders are to be targeted by the HMRC in a new probe of compliance and tax transparency. ... - Continue reading
Parliament ratifies double tax agreement with Malaysia
The Verkhovna Rada of Ukraine ratified an agreement with Malaysia on the avoidance of double taxation and the prevention of tax evasion and the protocol thereto, adopting Bill No. 0002. 333 MPs voted in favor of it. It was broadcasted by official Rada Channel. The agreement extends to individual income… – Continue reading
Australia: Simplified Transfer Pricing Record Keeping Options In Australia
Australian entities that meet certain requirements can shortcut the usual lengthy and expensive transfer pricing record keeping process. ... - Continue reading
FBR asks UAE to share details of Pakistanis hiding behind Iqama status
Chairman Federal Board of Revenue (FBR) Shabbar Zaidi on Monday wrote letter to UAE authorities and asked for devising mechanism to share details of Pakistanis who are hiding behind Iqama based residential status to evade taxes. In a letter written to Ministry of Finance UAE by the Chairman FBR Shabbar… – Continue reading
HMRC targets tax avoidance enablers
HMRC is clamping down on the promoters and enablers of tax avoidance scheme as prison sentence lengths for tax evasion rose by 1% on average last year. Penny Ciniewicz, HMRC’s director general of customer compliance, said “We have more than 100 current investigations into promoters [and enablers] and we’re keeping… – Continue reading
Airbnb probed by UK tax authorities
A note in newly filed accounts for Airbnb UK said it had been contacted by HMRC over "tax laws or regulations impacting the company's business". ... - 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
United States: Webinar: Supreme Court’s reconsideration of Auer Deference may undermine FFIEC manual.
Regulations governing BSA/AML compliance are often ambiguous, leading to disagreements with regulators about whether financial institutions are in compliance with those regulations. ... - Continue reading
International tax evasion by EU nationals amounts to US$50B per year
A new study by the European Commission estimates European Union member states lost US$50.7 billion (46 billion euros), about 0.3% of GDP, in tax revenue in 2016 to international tax evasion by individuals. ... - Continue reading
Nigeria: Unprecedented Global Drive For Tax Transparency – The Nigerian Perspective
In the last few years, the international tax space has experienced an unprecedented drive to achieve increased transparency in the tax practices of Multinational Enterprises (MNEs) and individuals in order to curb tax avoidance and evasion. ... - Continue reading
Utah man failed to submit proper tax returns, avoided paying taxes for 12 years
A man from Pleasant Grove, Utah, was convicted of multiple counts of tax evasion for failing to submit proper tax returns and avoiding paying his taxes for 12 years. Robin Kartchner, 69, has been convicted of 15 counts of tax evasion, according to a Tuesday press release from the Utah… – Continue reading
POGOs’ tax compliance improves
The tax compliance of online gaming operators and their service providers continue to show improvements every month amid the strict enforcement activities of the government, a tax official said. The Bureau of Internal Revenue (BIR) initially reported that its preliminary income tax collection from Philippine offshore gaming operators (POGO) foreign… – Continue reading
Switzerland: Amended Protocol Of Double Taxation Agreement Between Switzerland And USA
On 20 September 2019, Switzerland and the USA ratified the protocol of amendment of their double taxation treaty ("DTA"). ... - Continue reading
BIR Officials: Congress not inclined to lift Bank Secrecy
“The suggestion has been brought up many times before and lawmakers with the support of the business community rejected it,” said a revenue regional director who declined to be named. He recalled that many congressmen even protested when the BIR in 2014 tried to require taxpayers to include in their… – Continue reading
Corporate tax cut to benefit organized retail sector with pricing power most: report
The corporate tax cut would reduce the reach of the unorganized retail sector as they lose their edge of tax evasion, a 2Point2 Capital report says ... - Continue reading
United States: Senators Introduce Bill To Require Reporting Of Beneficial Ownership Information
A bipartisan group of senators introduced a bill which would impose federal beneficial ownership reporting requirements for legal entities established under state law, intended to assist law enforcement in fighting money laundering and terrorist financing ("AML/CFT"). ... - Continue reading
Accidental Americans’ sue France over FATCA disclosure rules
A group representing French-American taxpayers has filed a complaint against France with the European Commission over its compliance with the US Foreign Account Tax Compliance Act (FATCA), in a bid to avoid being blacklisted by French banks starting in January. France is a signatory to an agreement to give the… – 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
