Search Results for: tax authority
Prada’s CEO being investigated by Italian authorities over tax
September 29th, 2014
Italian luxury fashion house Prada SpA said on Monday its chairwoman Miuccia Prada and her husband, chief executive officer and fellow shareholder Patrizio Bertelli, are under investigation by Italian authorities over past taxes. The Hong Kong-listed company said in ...
Illegal Irish corporate tax deals for Apple
September 29th, 2014
Preliminary findings of an investigation into tax deals have found Apple Inc.(AAPL.O) being accused of benefiting from illicit state aid in Ireland after striking illegal deals with Irish authorities and will have to face Brussels’ law. Details of the probe, which ...
CEO of tax specialist cleared of wrongdoing after HMRC climb down
September 15th, 2014
The chief executive and a former director of the tax specialist arm of financial group Montpelier have been cleared of cheating the public revenue of £1m, after HM Revenue and Customs (HMRC) dropped the case against them. Watkin Gittins, ...
Scottish tax: Can meltdown be avoided?
September 12th, 2014
When Scottish electors cast their votes in the independence referendum on 18 September, a ‘no’ outcome would result in greater devolution of tax powers to Holyrood. By contrast, a ‘yes’ result in support of independence would create the need ...
Singapore Issues Modified Research E-Tax Guide
August 26th, 2014
Following the changes announced in February’s 2014 Budget, the Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide on Singapore’s research and development (R&D) tax deductions. IRAS’ e-Tax Guide also clarifies the existing definition of R&D ...
BofA Tax Set-Aside and Wylys Penalty
August 25th, 2014
Bank of America Corp. must set aside $490 million of its Aug. 21 $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt — a step taken by the Justice Department to give homeowners relief that ...
Kenyatta Sees Kenya Windfall Tax in Resource Laws in Months
August 4th, 2014
Kenya will impose capital-gains and windfall taxes on oil, gas and mining companies within months to ensure the East African nation maximizes benefits from its mineral resources, President Uhuru Kenyatta said. “This is something that we are very clear ...
EU court to decide on tax-free trading of bitcoin
July 30th, 2014
Tax-free trading of bitcoin is on legal questioning at the European Union’s top court following Swedish authorities request to extend existing levies to virtual currencies. The EU Court of Justice must decide if transactions between virtual and traditional currencies ...
Lew Can Use Tax Rule to Slow Inversions according to Ex-Official
July 28th, 2014
The U.S. Treasury Department should use immediate stopgap regulations to make offshore transactions known as corporate inversions less lucrative, said the department’s former top international tax lawyer. The administration can unilaterally limit inverted companies from taking interest deductions in ...
Sweden Calls For EU Ruling On Bitcoin Taxation
July 22nd, 2014
Sweden has asked the European Union to provide definitive rules on the Value Added Tax treatment of cryptocurrencies, such as Bitcoin, after concerns raised by the nation about the UK’s revised position, issued in March. On June 2, 2014, ...
