Category: Tax Haven

How much capital gains tax you pay in Portugal?

Like many countries, Portugal imposes a capital gains tax on the sale of assets. It only applies to gains made on real estate and investments; personal items are not taxable and inheritances are only subject to a limited form of stamp duty. Your exposure will depend on whether you are resident, how you own the asset and, with property, whether it is your main home. ... - 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

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

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

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

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