Global Investment Moving Through Tax Havens Is Rapidly Rising
According to the analysis conducted by ActionAid, the share of global investment moving through tax havens has increased – to the tune of about $700 billion in just two years.
Author: Robert
EU Attempting to Develop a Common List of Tax Havens
In February, EU member states sent letters to more than 92 countries notifying them that they now will be screened to determine if they should be included on a new blacklist of tax havens.
IRS Committed to Cracking Down on Offshore Tax Evasion
The IRS announced that hiding assets or money in offshore accounts remains high on its 2017 list of tax scams, commonly known as the “Dirty Dozen.” This list points out a number of common scams that taxpayers use to avoid paying their fair share.
Should Robots Pay Taxes?
If a robot takes a person’s job, should that robot pay income taxes? It is a question that is increasingly being debated in relation to the impact of automation on employment, and many have suggested that such a tax could help to address inequality and alleviate the social and economic pressures wrought by the shift towards the automation of labor. But experts agree that there is not a clear-cut answer.
Apple Insists Brussels Breached Its Fundamental Rights in Tax Case
In August 2016, the European Commission ruled that Ireland must recover up to €13 billion from Apple after it was discovered that the company was able to successfully avoid paying taxes to the country on virtually any profits.
Will Trump Release his Tax Returns Now that He is President?
Trump is the first presidential candidate nominee of any major party, and the first president in 40 years to not release his tax return. Trump first said that he was undergoing an audit and would release the returns once the audit was completed.
The UK’s New Tax Evasion Penalties are Coming into Force
Her Majesty’s Revenue and Customs (HMRC), the British government department responsible for collecting taxes, has an increasing focus on offshore tax evasion in the wake of the Panama Papers scandal.
Malta Rejects Tax Haven Accusation
Malta assumed the European Union’s rotating presidency this year. However, as the EU moves to crackdown on tax evasion in the wake of the Panama Papers scandal, the tiny island nation has faced charges that it helped major multinationals avoid paying billions in taxes to other EU member states, and therefore, possibly unfit for the presidency.
Will the UK become a Tax Haven Post-Brexit?
British Prime Minister Theresa May said that she would modify the basis of the UK’s economic model should the country get an unfavorable deal from other EU member states in Brexit negotiations, igniting widespread controversy.
U.S. Treasury Nominee Mnuchin Faces Scrutiny over Tax Havens
Former Goldman Sachs partner and hedge fund manager Steven Mnuchin is President Trump’s controversial pick for Treasury Secretary. It is alleged that Mnuchin failed to disclose an estimated $100 million in real estate assets on his financial disclosure forms, which he was required to fill out and submit before his Senate confirmation hearing.