Search Results for: tax
HSBC, Hong Kong Under Scanner As US Steps Up Investigation Of American Tax Frauds
January 5th, 2015
HSBC Holdings and the city of Hong Kong, which were last month linked to an international tax evasion network, are currently under scrutiny as part of efforts by U.S. authorities to hunt down American tax evaders, the South China ...
Bank Pays $400m Fine For Aiding US Tax Evasion
January 5th, 2015
A leading Israeli bank has agreed to pay the US government $400 million compensation for helping US customers evade tax. Bank Leumi confessed to advising 1,500 wealthy Americans how to evade taxes over several years. The bank ran secret ...
France Just Quietly Killed Off Its Failed 75% Super-Tax
January 2nd, 2015
The eye-catching and eye-watering 75% payroll tax rate in France was quietly killed off by the government yesterday, after failing to raise significant revenue. The tax was also accused of driving high earners away from France. The tax raised only ...
Digital tax increase to take effect in Europe
January 2nd, 2015
A change in fiscal rules in the EU is raising the tax on many purchases of digital content, such as e-books. Europe’s tax showdown could be headed straight to people’s wallets. With the new year, a change in fiscal ...
Europe ‘must do more to tackle tax dodging’
December 30th, 2014
Labour MEPs are pushing the European Commission to do more to tackle tax avoidance – a subject that has plagued Commisison President Jean-Claude Juncker – and to come forward with concrete legislation that will clamp down on this pernicious ...
Top 10 Reasons to Abolish the Corporate Income Tax
December 30th, 2014
America’s corporate income tax rate, at 35%, is the highest in the world. A rising chorus would like to bring it more in line with foreign rates, which average around 23%. I have a better idea—abolish the tax. The ...
Switzerland To Refine the withholding tax (WHT) system
December 23rd, 2014
The Swiss Federal Council has said that it intends to refine the withholding tax (WHT) system, to provide increased stability and facilitate the raising of capital. The Council explained that while WHT makes a considerable contribution to federal receipts ...
Princess Cristina of Spain to face a tax fraud trial
December 22nd, 2014
The Spanish king’s sister, Princess Cristina, is to face a tax fraud trial over alleged links to her husband’s business dealings. It is the first time for modern Spain to put a royal in the dock to face trial. Her husband ...
Luxembourg Agrees to Share Details of Corporate Tax Deals
December 19th, 2014
Luxembourg agreed Thursday to share with the European Commission information on tax deals secured by multinational companies with operations in the small nation. Xavier Bettel, Luxembourg’s prime minister, said the decision came after the European Union’s executive also asked ...
KPMG pre-tax profits dip 9% as tax regulation bites
December 19th, 2014
KPMG has reported a 5% growth in revenues but pre-tax profits fell as the firm made a series of investments in new business lines, while its tax practice felt the impact of an increased regulatory burden Revenues for the ...
