What Are Some of the Indirect and Direct Tax Implications of Brexit?
Brexit has been all over the news for the last few years and it is set to go ahead in the very near future.
Brexit has been all over the news for the last few years and it is set to go ahead in the very near future.
Many big-name companies have faced allegations regarding tax evasion, with these accusations sometimes coming from various countries.
The EU recently announced plans to probe potential citizenship abuses from investment schemes. The Commission released a comprehensive report regarding residence and citizenship schemes operated by multiple EU member states.
Late last year, the Netherlands showed that it would be tough on tax havens and those who choose to use them by publishing a blacklist of tax havens.
Providence Investment Fund administrators are suing PwC for £14 million, citing breach of contract, breach of duty, and negligence as auditors.
In early January, authorities in Europe announced an investigation into whether Nike received illegal tax breaks from the Dutch government. According to the investigation, the government potentially let Nike avoid paying taxes on sales made in the region.
It is no secret that high-net-worth individuals, as well as corporations, try to do whatever they can to pay low taxes, including using offshore tax havens.
Previously, high-net-worth individuals were able to streamline their process of entering the UK and investing within the country via the so-called golden visa rules.
The Isle of Man is known as one of the locations that offshore companies flock to in order to reduce the taxes they pay.
The controversy regarding tax havens and offshore bank accounts occurs around the world, and even those working in tax offices are not free from blame.