10/22/2018
World’s Biggest Banks Helped Clients Steal $63 Billion in Taxes in Europe
Dubbed the Cumex Files, the investigation reviewed 180,000 secret documents from banks, stock traders and law firms over a period of more than a year.
Tax
10/21/2018
OECD issues guidance on 'golden passport' tax abuse
Financial institutions need to ask additional questions to prevent residence and citizenship by investment schemes being used as tools to hide assets from the tax authorities, the Organisation for Economic Cooperation and Development has said.
10/21/2018
Tax authorities update tax haven guide
Countries are deemed to be tax havens or to have a preferential tax regime if they apply a special beneficial tax regime to nonresidents (either companies or individuals) with a view to attracting capital and/or investment.
10/19/2018
Santander is latest bank targeted in Germany's giant tax fraud probe
Santander's role in the scheme was to carry out trades, the prosecutors say, as one of many parties involved.
10/17/2018
Haven’s above: How ‘no deal’ Brexit could bring tax hikes or tax haven status by Chris Etherington
The hope, presumably, is that by lowering income taxes, the UK economy will receive a shot in the arm by supporting existing wealth-creators and attracting new ones.
10/17/2018
Upbeat Bankers Want To Pay Less Tax
The banks are also said to be collaborating to build out and secure digital banking channels to reduce long in-bank lines to ease customer pain and shave staff costs.
10/16/2018
ASC 740 Insights
Tax and accounting highlights
10/15/2018
Offshore wealth: loopholes found in EU anti-tax evasion rules
Foreign accounts can still be kept secret from tax authorities, says report
10/15/2018
More than 160 celebrities nominated for honours have been secretly 'blacklisted' over tax dodging
Checks are carried out to ensure The Queen does not end up embarrassed by who she honours
10/15/2018
Japan tax watchdog obtains data on 400,000 overseas accounts
Citizens reported only around 9,000 foreign accounts in 2016
10/11/2018
OECD releases 2017 global mutual agreement procedure statistics
Improving the effectiveness and timeliness of dispute resolution mechanisms is the aim of Action 14 of the BEPS Action Plan (read the final report on Action 14 of the BEPS Action Plan) and is also part of the wider G20/OECD tax certainty agenda. The Actio
10/11/2018
Panama shares financial accounts data with 31 countries
The objective of the process is to comply with transparency of the exchanges of financial entities in the country, as well as to determine and identify specific areas of taxation at the local level.
10/10/2018
The ATO is reportedly coming after the big four accountancy firms for tax schemes
The ATO has been looking at thousands of emails and documents that were part of the Paradise Papers as they relate to Australia.
10/10/2018
Ireland Budget 2019 adds tax on assets shifted offshore
Both measures are anti-abuse rules that aim to tax multinational firms that transfer assets offshore.
10/08/2018
Tax havens refuse to cooperate with FBR
Pakistan is currently investigating data of three leaks about Pakistani offshore investments and — two leaks related to tax havens — Panama and Bahamas — which did not offer to share automatic information with Pakistan under the new tax
10/07/2018
UBS Accused of Bond Movie Tactics in Paris Tax-Dodging Trial
They used encrypted computers, had business cards without the lender’s logo and were told to switch hotels regularly, according to prosecutors.
10/05/2018
Just six jurisdictions left on EU tax haven blacklist
Liechtenstein and Peru removed from the greylist
10/05/2018
Liechtenstein, Peru removed from “grey” list of noncooperative jurisdictions
The listing process is part of the EU's initiative to tackle tax avoidance and evasion and promote fairer taxation, within the EU and globally
10/04/2018
Tax Inspectors Without Borders making significant progress
Audits cover a cross-section of industry sectors including agriculture, construction, financial services, information technology and communications, hospitality, manufacturing and mining.
10/02/2018
55% of FTSE100 currently fail to publicly mention tax evasion
Failure to comply with the new law could result in unlimited financial penalties, ancillary orders such as confiscation orders or serious crime prevention orders, and serious reputational damage.