Search Results for: tax authority
Commission concludes Belgian “Excess Profit” tax scheme illegal; around €700 million to be recovered from 35 multinational companies
January 11th, 2016
The European Commission has concluded that selective tax advantages granted by Belgium under its “excess profit” tax scheme are illegal under EU state aid rules. The scheme has benefitted at least 35 multinationals mainly from the EU, who must ...
HSBC escapes action by City regulator following Swiss tax scandal
January 5th, 2016
Financial Conduct Authority will take no action against bank whose Swiss arm helped clients to evade tax. HSBC will not face formal action from the City regulator following revelations that the Swiss arm of Britain’s biggest bank helped clients to ...
More banks pay no UK tax, Labour wants tougher approach
January 4th, 2016
Two more investment banks have reported paying zero tax in Britain in 2014, prompting the opposition Labour party to urge the government to reverse a tax change it made for banks last year. Citigroup and Credit Suisse disclosed in ...
Seven big investment banks in UK paid just $30 million tax in 2014
December 29th, 2015
Seven of the biggest investment banks operating in London paid little or no tax in Britain last year, despite reporting billions of dollars in profits, a Reuters analysis of corporate filings shows. In recent months, the seven investment and ...
Increase In Tax Penalties Issued To UK Financial Directors
December 23rd, 2015
The number of penalties issued under UK tax authority’s Senior Accounting Officer (SAO) regime more than doubled in 2014-15, according to research by international law firm Pinsent Masons. Pinsent Masons said that 155 fines were issued in 2014-15, up ...
HMRC imposes 45% corporation tax without warning
November 9th, 2015
The government have imposed a 45% corporation tax on restitution interest from 21 October without any warning or consultation. Corporations will be charged at the special rate of 45% instead of the normal 20% rate of corporation tax on restitution interest. Businesses ...
RAK, UAE, and traditional tax havens
September 25th, 2015
What is the difference between the United Arab Emirates (UAE) and other popular tax havens? Why more and more international traders and investors find the UAE to be one of the best places to incorporate offshore companies for various ...
Revenue & Customs ‘winding down’ inquiries into HSBC Swiss tax evaders
September 10th, 2015
After reopening investigation into HSBC clients hiding money in Switzerland, HMRC admits it has still only prosecuted one tax cheat HM Revenue and Customs (HMRC) is winding down its inquiries into hundreds of British customers who used HSBC’s Swiss ...
India And Germany To Share More Information On Tax
September 1st, 2015
The governments of India and Germany have agreed to continue negotiations on a partial revision of their bilateral double tax avoidance agreement with a view to introducing automatic exchange of tax information, the Indian Government has announced. As part ...
Plus500 informs on its acquisition by Playtech, Withholding Tax and Settlement Update
August 20th, 2015
Following the latest announcement by Playtech to inform regarding the Resolution to approve the acquisition of Plus500 Ltd issued on 19th August 2015, Plus500 has issued a press release to inform that is pleased that the Merger has now received ...
