Search Results for: Tax
HMRC launches plans to tackle black economy
August 30th, 2016
HMRC has launched three consultations on proposals to clamp down on the black economy. The proposals include extending HMRC’s data gathering powers, forcing more business to register for tax purposes in order to access business services and licenses, and new penalties ...
Apple should repay Ireland €13bn, European Commission rules
August 30th, 2016
Ireland should recover up to €13bn (£11bn) from Apple in back taxes, the European Commission has ruled. After a three-year investigation, it has concluded that the US firm’s Irish tax benefits are illegal. The Commission said Ireland enabled the company ...
Japan retail sales show improvement in July
August 30th, 2016
Japanese retail sales fell by the smallest margin in five months in July, a possible indication that consumers may becoming less cautious about spending despite slow wage growth and uncertainty over the global economy. Retail sales edged down 0.2% ...
HMRC sets rules for Worldwide Disclosure Facility on unreported offshore accounts
August 29th, 2016
The WDF will launch on 5 September 2016 and will be available to anyone who is disclosing a UK tax liability that relates wholly or in part to an offshore issue. This includes: income arising from a source outside ...
Multinational Law Firm predicts A$1 Billion Loss; largest financial loss ever recorded in legal sector
August 29th, 2016
Slater and Gordon Limited (“Slater and Gordon”) (ASX: SGH) today provides an update on key earnings and balance sheet expectations for the financial year ended 30 June 2016. Total Revenue (and other income) is expected to be $908.2m. H2 ...
Taiwan to toughen anti-money laundering law after US fine
August 25th, 2016
Taiwan moved Thursday (Aug 25) to toughen its anti-money laundering law after US authorities fined a local bank linked to the so-called Panama Papers scandal. Last week, American regulators fined Taiwan’s Mega International Commercial Bank US$180 million for showing ...
Emerging-Market Assets Rally on Yield Hunt Before Yellen Speech
August 25th, 2016
‘The market is back to the search for yield,’ CBA’s Ji says Emerging-market currency volatility touches eight-week high Emerging-market currencies and stocks rose as investors sought out higher-yielding assets before a speech by Federal Reserve Chair Janet Yellen which ...
Former Swiss banker ‘Whistleblower’ has been sentenced to a 14-month suspended jail
August 24th, 2016
Former Swiss banker Rudolf Elmer has been sentenced to a 14-month suspended jail term after being found guilty of forgery and making threats in a long-running legal battle involving his former employer Julius Bär. However, the Zurich court on Tuesday ...
Many Reporting Entities Unprepared For FATCA
August 24th, 2016
New research shows that financial institutions are generally confident about meeting existing and incoming automatic exchange of information obligations. However, the study also found that a significant proportion of the industry is facing higher costs and risking fines by ...
SEC charged Apollo Global Management for misleading fund investors
August 24th, 2016
The Securities and Exchange Commission today announced that four private equity fund advisers affiliated with Apollo Global Management have agreed to a $52.7 million settlement for misleading fund investors about fees and a loan agreement and failing to supervise ...
