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....Before publishing legal proposals, the EU wants to see how far the rest of the world will go. Officials are awaiting a report in spring 2018 from the Organisation for Economic Co-operation and Development (OECD), the Paris-based body that is co-ordinating global efforts against tax avoidance. ... [Read full article on Guardian ]
Thursday 21st of September 2017 09:34:03 AM
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....The new rules, which were published in a consultation document on Tuesday, also give companies, unions and other employee representatives more time to respond to bids in changes which follow the controversial £115bn attempted takeover of Unilever by Kraft Heinz earlier this year. Ahead of the general election in June, the Conservatives promised that deals driven by “aggressive asset-stripping or tax avoidance” would no longer be welcome. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 06:21:29 PM
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Latest Finance News related to Tax Avoidance

EU to find ways to make Google, Facebook and Amazon pay more tax image
Source : Guardian [Read Article] Thursday 21st of September 2017 09:34:03 AM
....Before publishing legal proposals, the EU wants to see how far the rest of the world will go. Officials are awaiting a report in spring 2018 from the Organisation for Economic Co-operation and Development (OECD), the Paris-based body that is co-ordinating global efforts against tax avoidance. ...
Government backs tighter rules on takeover of UK companies image
Source : Guardian [Read Article] Tuesday 19th of September 2017 06:21:29 PM
....The new rules, which were published in a consultation document on Tuesday, also give companies, unions and other employee representatives more time to respond to bids in changes which follow the controversial £115bn attempted takeover of Unilever by Kraft Heinz earlier this year. Ahead of the general election in June, the Conservatives promised that deals driven by “aggressive asset-stripping or tax avoidance” would no longer be welcome. ...
End austerity – and kickstart Martin Luther King’s revolution of values | Richard Kozul-Wright image
.... It implies not only using fiscal policy to manage demand conditions, and making full employment a central policy goal – but also using monetary expansion to finance public investments that create inclusive and sustainable results. But if recovery is to be sustained, “organised money” will need to be challenged; regulatory oversight over restrictive business practices will need to be strengthened; legislative action will need to be taken in support of a living wage and against tax avoidance; and communities ravaged by health and security problems will need to be repaired. ...
Brexit is a great British bore. Europe has moved on, and the UK should be worried   | Guntram Wolff image
.... For many in the EU, the UK is increasingly self-absorbed. And Brexit is too unimportant for the EU to be distracted from euro-area repair or the fight against tax avoidance by multinationals. ...
The Observer view on controlling the power of digital titans | Observer editorial image
....Competition policy must operate internationally. Similarly, IT companies must comply with OECD initiatives on tax avoidance or face the risk of paying a flat rate levy on sales. ...
How to avoid Inheritance Tax: Expert warns HMRC to hit families HARDER this year image
....Almost £2billion has been taken from estates in three months alone, between April and July 2017. It comes as HMRC has come under increased pressure over tax avoidance by large global companies. ...
Amazon paid just £15m in tax on European revenues of £19.5bn image
Source : Guardian [Read Article] Thursday 10th of August 2017 08:15:53 AM
....46bn. Ana Arendar, Oxfam’s head of inequality, said: “Despite some action by ministers and companies, widespread corporate tax avoidance continues to cost both rich and poor countries billions every year that could pay for schools and lifesaving healthcare. ...
Payment in gold bullion banned under new law to combat tax evasion image
Source : Guardian [Read Article] Monday 7th of August 2017 05:33:52 PM
. Companies will no longer be able to pay employees their salaries in gold bullion in the first use of a new law designed to combat “morally repugnant” tax avoidance schemes. ...
Swiss bank Julius Bär plans expansion in UK with new offices image
Source : Guardian [Read Article] Thursday 3rd of August 2017 06:28:41 PM
.... Julius Bär hopes to attract entrepreneurs and business owners. Swiss banks and other private banks have been mired in controversy over running tax avoidance schemes, but David Durlacher, chief executive of Julius Bär’s international operations, said their reputation was improving. ...
HSBC shows what happens when a bank stops shooting itself in the foot | Nils Pratley image
.... The cleanup of HSBC – forced by past scandals, notably the £1. 2bn fine in the US for money-laundering offences plus tax avoidance scams in Switzerland – is finally delivering for shareholders. ...
HSBC chief sounds alarm over financial regulation and Brexit image
Source : Guardian [Read Article] Monday 31st of July 2017 07:02:10 AM
....Among the ideas he endorsed was a mandatory register of beneficial ownership of corporate structures in every country. The City is focused on HSBC’s attempts to clean up its business after a series of scandals about the tax avoidance strategies used by its Swiss arm and the £1. ...
'Disgusting and astonishing': how do the UK's top 1% view tax avoidance? image
....The industry I work in, private equity, is built around the use of legal tax planning to avoid the payment of taxes, and around the classification of executives’ performance-related compensation as capital gains [profit from an asset] rather than income. These things do not even amount to tax avoidance; they are simply the way the tax system works for private equity investment. ...
Why not fund the welfare state with a 100% inheritance tax? | Abi Wilkinson image
.... But what if the desires of the dead directly damage the wellbeing of the living? Is there any situation in which the previous instructions of someone no longer actually present in the mortal realm should be prioritised over the needs, interests and opinions of those who are still alive and kicking?. In the UK, official statistics suggest around £77bn is passed on in inheritance each year (tax avoidance means the real amount could be even higher). ...
Recruitment sector tax scheme liquidates hundreds more firms image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:17:53 PM
. An aggressive tax avoidance scheme, linked to one of the recruitment industry’s highest-profile names, is liquidating hundreds more companies, according to filings made after a Guardian investigation exposed how the exchequer could lose millions. ...
Chancellor urged to recover money lost from recruitment sector tax avoidance image
. The chancellor is being asked to reassure parliament that he will recover any monies lost to aggressive tax avoidance in the recruitment sector, after a Guardian investigation exposed how millions of pounds could be lost to the exchequer. ...
Recruitment advisers' tax scheme liquidated after HMRC asks questions image
. An aggressive tax avoidance scheme, linked to one of the recruitment industry’s highest-profile names, is being liquidated in a move that could prevent HM Revenue and Customs from recouping millions of pounds. ...
Rangers tax case: supreme court rules in favour of HMRC image
Source : Guardian [Read Article] Wednesday 5th of July 2017 05:02:13 PM
. Companies that paid staff via “contrived” employee benefit trusts have been urged to come forward, after HM Revenue & Customs scored a landmark victory in a tax avoidance case against the former incarnation of Rangers football club. ...
Germany fears big losses over tax scandal image
Source : BBC [Read Article] Thursday 8th of June 2017 11:14:16 PM
....Prosecutors have been investigating for some time. And gradually it is emerging that large-scale tax avoidance was taking place right under the noses of the authorities. ...
David Beckham and other celebrities lose £700m tax case image
Source : BBC [Read Article] Thursday 1st of June 2017 02:53:43 PM
....Many subsequently claimed that they were poorly advised about the schemes and had been unaware of the risks. Last year, HMRC won a case against another tax avoidance scheme used by celebrities called Icebreaker. ...
EU targets lawyers and accountants in tax-avoidance clampdown image
Source : Guardian [Read Article] Tuesday 30th of May 2017 06:24:16 PM
....Jean-Claude Juncker, the European commission president, told MEPs on Tuesday that he would table a draft law before the end of June that aims to shed light on experts who help clients exploit tax laws and shift money to offshore tax havens. Lawyers, accountants and other financial experts who devise complex tax avoidance schemes were a “real problem”, Juncker said, adding: “You can’t simply hide behind lawyers’ confidentiality. ...
Paul Polman: ‘I could boost Unilever shares. But cutting costs is not our way’ image
.... You won’t find the word “Unilever” in last week’s Conservative manifesto but the passage on reforms to rules on takeovers and mergers almost nodded at the Kraft saga, which illustrated the government’s lack of formal powers of intervention. Theresa May’s party is now promising that deals driven by “aggressive asset-stripping or tax avoidance” will not be welcome. ...
Labour gambles on tax and spend – but will the public back it? | Larry Elliott image
....Labour has made an allowance of £4bn for possible losses that might occur as a result of behavioural change, but on the side of the ledger has included £6. 5bn from a crackdown on tax avoidance – a traditional recourse for politicians seeking to make their sums add up. ...
Labour manifesto: Extra £48.6bn in tax revenue to fund pledges image
....It also includes the nationalisation of England's water companies and scrapping university tuition fees. Labour said all the pledges were costed, with other fundraising measures including corporation tax rises, a crackdown on tax avoidance and an "excessive pay levy" on salaries above £330,000. ...
May to appeal to low-paid voters with new social housing pledge image
Source : Guardian [Read Article] Saturday 13th of May 2017 09:00:05 PM
....7bn a year to pay for a huge increase in state spending, bringing an unequivocal end to the government’s austerity measures. It also announced that it will undertake the biggest crackdown on tax avoidance “in the country’s history” and force anyone earning more than £1m a year to publish their tax returns. ...
Smirnoff owner Diageo to pay HMRC £107m in 'Google tax' crackdown image
Source : Guardian [Read Article] Wednesday 10th of May 2017 06:54:14 PM
.... It did not disclose the actual tax paid. There has been a clampdown on tax avoidance by multinationals in Europe by national governments and the EU commission, the executive arm of the European Union. ...
HSBC spends more on fighting financial crime as profits fall by 19% image
Source : Guardian [Read Article] Thursday 4th of May 2017 05:55:16 AM
.... Iain Mackay, the HSBC finance director, said there was a “very sharp focus” on meeting the requirements of the DPA, which runs until the end of this year. In a reminder of one issue facing the bank, the Spanish high court announced after the company had published its results on Thursday that it would question seven former HSBC executives as part of an investigation into revelations of tax avoidance schemes run in its Swiss arm from leaks by Hervé Falciani. ...
Theresa May promised to tackle greedy bosses – instead she’s helping them | Polly Toynbee image
.... Although his actions were legal, he was registered as domiciled in Hong Kong for tax purposes, despite living and working in the UK. Leaked documents appeared to show that the Swiss private bank operated by HSBC was complicit in tax evasion and aggressive tax avoidance, doling out bricks of cash to clients, and providing banking services to criminals, drug smugglers and friends and families of dictators. ...
Labour plans clampdown on 'sweetheart deals' to close £36bn tax gap image
Source : Guardian [Read Article] Friday 14th of April 2017 11:01:09 PM
....Successive governments, including Theresa May’s administration, have pledged to crack down on multinational companies gaming the international tax system to pay less tax. But accusations persist that some multinationals have been allowed to arrange so-called “sweetheart” deals with firms, including Google, Vodafone and Starbucks, to pay nominal sums to settle investigations into allegations of years of tax avoidance. ...
Starbucks blames UK profits plunge on Brexit and slowing growth image
Source : Guardian [Read Article] Thursday 13th of April 2017 12:32:31 PM
.... Sales at stores open more than one year were down by 1% over the period. Starbucks became the poster child for corporate tax avoidance in 2012 after details of its meagre tax contribution emerged. ...
Donald Trump’s tax holiday 'would help top US companies save $300bn' image
Source : Guardian [Read Article] Wednesday 12th of April 2017 04:00:25 AM
....Trump’s proposed tax holiday would be a big boost for US technology companies which make a lot of money overseas and often park the profits in low-tax jurisdictions, such as Ireland. Apple holds more than $200bn offshore, and was last year accused of tax avoidance by the European commission and ordered to pay €13bn (£11bn) in back taxes. ...
Firms dispute Jeremy Corbyn's claim they pay bills late image
Source : BBC [Read Article] Tuesday 11th of April 2017 12:11:53 PM
....And he repeated Labour's pledge to create regional investment banks to make it easier for businesses to access finance. He said he wanted to create a "level playing field" for entrepreneurs by increasing corporation tax on big business and cracking down on tax avoidance, with the cash raised to be spent on improving skills training. ...
Criminal gangs use UK ports to defraud EU customs image
Source : BBC [Read Article] Wednesday 5th of April 2017 07:02:51 PM
....They are angry that the same Chinese importers are evading VAT as well as under-declaring the value of goods at customs. Richard Allen, from the business pressure group Retailers Against VAT Abuse (RAVAS), says his members had gathered plenty of hard evidence of widespread tax avoidance by Chinese criminal rackets. ...
Speedboat among £5.1m of assets seized in tax fraud investigation image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:53:57 PM
....British and Dutch authorities have seized more than €6m (£5. 1m) worth of assets – including luxury cars, a speedboat and properties – from an Anglo-Dutch couple accused of running a multinational tax avoidance scheme. ...
Tory donor Lycamobile in £26m tax dispute image
Source : Guardian [Read Article] Monday 3rd of April 2017 05:30:14 AM
....Labour’s shadow chancellor, John McDonnell, raised concerns about the VAT dispute and the reasons for Lycamobile’s transactions through a Madeira company. “If true, then it’s time for the Tories to get a grip and take tax avoidance seriously for once and refuse further donations from any company that funnels money via a tax haven,” he said. ...
Sports Direct workers paid less than minimum wage yet to get back pay image
Source : Guardian [Read Article] Tuesday 28th of March 2017 10:15:04 AM
....A submission by Adrian Gregory, the director of London-based recruitment agency Extraman and a campaigner against abuses within the industry, said: “Having spent 30 years in the business, I would … suggest that my particular part of the recruitment industry, that dealing with unskilled industrial staff, currently operates with little regard for the law and none whatever for any ethical considerations. “A pernicious cocktail of inadequate, impractical and muddled legislation combined with a complete disregard for the rights and welfare of the very people, the temporary staff, who earn agencies their money has led to mass exploitation coupled with huge tax avoidance. ...
Google and Facebook now paying full tax, Australia says image
Source : BBC [Read Article] Tuesday 21st of March 2017 08:36:40 AM
.... . The Australian Tax Office was given a 1,000-person strong team of tax avoidance specialists to focus on large companies and wealthy individuals avoiding tax. ...
G20 finance ministers drop anti-protectionist pledge image
Source : BBC [Read Article] Saturday 18th of March 2017 03:22:36 PM
....". However, it did include pledges on a determination to fight tax avoidance, clamp down on terrorist financing and strengthen private investment in Africa. ...
Bogus self-employment exploits workers and scams the taxman | Paul Mason image
.... We must, in other words, exert upward pressure on wage costs and resist the downward pressure that has fuelled the rise in precarious work. If governments do not actively shape the workforce of the 21st century, it will shape itself, with a nod and a wink, around tax avoidance and casualisation. ...
The farming revolution that aims to bring free-range milk to Britain image
Source : Guardian [Read Article] Sunday 12th of March 2017 12:05:09 AM
....“Coffee retailers all talk about their beans, and where they come from, but when it comes to milk, they couldn’t care less,” says Neil Brealey, of Cotteswold Dairy in Tewkesbury, Gloucestershire, which supplies milk bearing the Free Range Dairy label. The big coffee shops’ ethical mission statements bear out his point; the Ethical Consumer guide, which ranks coffee shops on everything from sourcing to tax avoidance, doesn’t seem to consider where the milk comes from. ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....However, some self-employed people appeared to have been insulated from another of the chancellor’s new initiatives. The changes to the taxation of dividends was criticised for “leaving the door open to massive tax avoidance” by wealthy people working for their own companies. ...
Key points of the budget 2017 – at a glance image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:41:30 PM
Taxes for self-employed likely to rise in Hammond's budget image
Source : Guardian [Read Article] Tuesday 7th of March 2017 08:05:27 PM
....Philip Hammond is likely to close loopholes in Wednesday’s budget that mean many self-employed workers pay less tax than their salaried counterparts – but he will come under pressure to ensure they receive better rights in return. The Treasury is concerned that the growing prevalence of self-employment is not just driven by entrepreneurialism in the “gig economy”, but by tax avoidance, which will progressively undermine Britain’s tax base. ...
Labour says £1m earners should publish tax returns image
Source : BBC [Read Article] Thursday 2nd of March 2017 03:05:40 PM
....Taxpayers whose incomes top £1m a year would be forced to make their tax records public under Labour, shadow chancellor John McDonnell has said. He claimed the measure, inspired by Norway and Sweden, would restore trust in the system and reduce tax avoidance. ...
HMRC criticised over film industry tax avoidance probes image
Source : BBC [Read Article] Saturday 25th of February 2017 02:46:36 AM
....". Commenting on the correspondence, Mr Tyrie said: "If a tax avoidance scheme is found by the courts to be illegal, then investors in the scheme have no option but to repay the tax that they have avoided. ...
It's time corporate tax dodgers started losing lucrative council contracts | Paul Monaghan image
.... The ruling applies to any contracts or tenders initiated after October 2016. Unlike previous regulations, which required local councils to scrutinise whether a company had been involved in illegal tax practices but overlooked the greyer area of tax avoidance, this new ruling requires councils to ask a more detailed set of questions that encompass both outright illegal practices and aggressive tax dodging that is outside the spirit of the law and something tax authorities are at last beginning to clamp down on. ...
'The UK is a tax haven' – Bermuda attacks plan to end financial secrecy image
....While Bermudian companies did not feature heavily in the Panama Papers, they have played a role in other financial scandals including Bernie Madoff’s notorious Ponzi scheme and more recently in fraudulent public offerings on the Singapore stock exchange. The mid-Atlantic nation is a major centre of tax avoidance, with Google and other multinationals attracted by a zero corporation tax rate. ...
Banks’ duty to provide free ATMs and keep branches open | Letters image
Source : Guardian [Read Article] Tuesday 31st of January 2017 07:55:37 PM
.... He wasn’t wrong. It included Libor manipulation, mis-selling mortgages to Fannie Mae and Freddie Mac, Forex rigging, weakness in money laundering and systematic aiding of tax avoidance at its Swiss subsidiary. ...
UK's super rich appear to get special deal from HMRC, says watchdog image
Source : Guardian [Read Article] Friday 27th of January 2017 12:01:11 AM
....Of the 850 penalties issued to the very wealthy since 2012, the average charge was £10,500 – a figure the committee said was likely to be too small to act as a deterrent. The problem was likely to become more acute because wealthy people were moving from off-the-peg tax avoidance schemes – the “high street equivalent of Primark or Next” – to bespoke “made-to-measure Savile Row” arrangements, the report says. ...
Can credit unions finally provide a truly ethical current account? image
Source : Guardian [Read Article] Saturday 21st of January 2017 06:59:28 AM
. Billions of pounds of taxpayer cash pumped in, PPI mis-selling, investing in fossil fuels or dodgy regimes, money laundering, Libor rigging, tax avoidance, excessive executive pay… the list of scandals involving banks goes on and on. ...
EU negotiator wants 'special' deal over access to City post-Brexit image
Source : Guardian [Read Article] Friday 13th of January 2017 07:15:54 PM
....Elmar Brok, the German centre-right chair of the foreign affairs committee, reportedly voiced concern the UK would become “a Trojan horse of the US” – echoing fears that date back to the time of Charles de Gaulle. Werner Langen, a German centre-right MEP who is leading the investigation into the Panama Papers, wants to ensure the UK accepts international rules to clamp down on tax avoidance. ...
Malta accused of being tax haven as it takes EU presidency image
Source : Guardian [Read Article] Wednesday 11th of January 2017 08:00:14 AM
. Malta has been accused of being a tax haven, just as it takes the helm of the European Union in a critical year for the bloc’s crackdown on tax avoidance. ...
Snapchat sets up international office in London image
Source : BBC [Read Article] Tuesday 10th of January 2017 10:14:48 AM
....However, the European Commission has been cracking down on some of the tech companies' tax deals. In addition, the OECD has has been pushing for G20 measures on corporate tax avoidance. ...
My new year forecast: Trumpian uncertainty, and lots of it image
Source : Guardian [Read Article] Monday 9th of January 2017 11:59:13 AM
.... It was the Republicans who, in 26 states, refused to allow the expansion of Medicaid, thereby denying health insurance to those at the bottom. And why was the victor somebody who made his living from taking advantage of others, openly admitted not paying his fair share of taxes, and made tax avoidance a point of pride?. ...
Jean-Claude Juncker blocked EU curbs on tax avoidance, cables show image
Source : Guardian [Read Article] Sunday 1st of January 2017 01:14:31 PM
. The president of the European commission, Jean-Claude Juncker, spent years in his previous role as Luxembourg’s prime minister secretly blocking EU efforts to tackle tax avoidance by multinational corporations, leaked documents reveal. ...
HMRC empowered to name and shame tax evasion 'enablers' image
Source : Guardian [Read Article] Sunday 1st of January 2017 10:53:10 AM
....The Treasury said more action was planned in the coming months, including a consultation on a new requirement for businesses and individuals who create complex offshore financial arrangements that bear the hallmarks of enabling tax evasion to notify them to HMRC. May pledged during her leadership campaign that she would pursue companies and individuals who took part in deliberate tax avoidance. ...
Labour 'finds £2.6bn black hole in Treasury's tax avoidance measures' image
Source : Guardian [Read Article] Friday 23rd of December 2016 07:00:09 AM
. Labour have accused the Treasury of failing to fully tackle tax avoidance as it claimed to have identified a £2. ...
Tax avoidance, expenses scams – welcome to the recruitment industry | Adrian Gregory image
.... Much of this growth is, however, easily explained. In combining aggressive tax avoidance with systematic worker exploitation, recruitment agencies are able to supply labour at prices far below the cost of direct employment by labour users. ...
Computer error blamed for HMRC blunder in Scotland image
Source : Guardian [Read Article] Monday 19th of December 2016 06:54:44 PM
....uk website pages but, according to HMRC’s own analysis, there was no noticeable increase in the traffic as a result of the notification letters. The report also identifies the risk of tax avoidance and evasion if there are differences in tax rates or thresholds between Scotland and the rest of the UK. ...
What the US economy doesn't need from Donald Trump | Joseph Stiglitz image
Source : Guardian [Read Article] Monday 19th of December 2016 11:19:56 AM
.... And back-loaded stimulus has its own problems, unless it is managed extremely carefully. If Trump’s pick for US treasury secretary, the Goldman Sachs and hedge fund veteran Steven Mnuchin, is like others from his industry, the expertise he will bring to the job will be in tax avoidance, not constructing a well-designed tax system. ...
Apple fights back with appeal against EU Irish tax ruling image
Source : BBC [Read Article] Monday 19th of December 2016 03:26:21 AM
.... . The Commission may end up losing this particular battle but there is progress in the international war against tax avoidance. ...
Savers are slowly choking off the life of the world economy image
Source : Guardian [Read Article] Sunday 18th of December 2016 07:00:44 AM
....Then there is the way most people, businesses and governments have accumulated their savings. Just a quick look at the $100tn total and we can see that most of it is the result of tax avoidance. ...
HMRC claws back celebrities' tax relief image
Source : BBC [Read Article] Thursday 15th of December 2016 12:17:51 AM
....Household names involved include Kenny Dalglish, Roy Hodgson, Terry Venables, Marouane Fellaini, Lady Elizabeth-Ann Redgrave, Arsene Wenger, Oscar-nominated producer of Harry Potter films and Gravity, David Heyman, and co-owner of T in the Park and V Festival, Simon Moran. Comedian Jimmy Carr, who was criticised in 2012 for sheltering income using the legal but aggressive K2 tax avoidance scheme, resigned as a member of Cobalt Data Centre 2 in May. ...
Bermuda is world's worst corporate tax haven, says Oxfam image
Source : Guardian [Read Article] Monday 12th of December 2016 12:01:40 AM
.... It warned that allowing these territories to act as tax havens “undermines Britain’s efforts to be an outward-facing, responsible member of the international community”. To compile the list, Oxfam looked at practices such as offering unfair and unproductive tax incentives and zero or extremely low corporate tax rates, as well as failure to co-operate with international processes to combat tax avoidance. ...
McDonald's to scrap Luxembourg tax structure image
Source : Guardian [Read Article] Thursday 8th of December 2016 05:11:31 PM
....The Organisation for Economic Co-operation and Development, a thinktank for developed economies responsible for drawing up the revisions, has estimated that, even on conservative assumptions, large global businesses were shifting profits and eroding the tax receipts of economies around the world at a cost of $100bn-$240bn (£65bn-160bn) a year – equivalent to between 4% and 10% of global corporation tax revenues. Luxembourg was exposed as one of the most popular jurisdictions for tax avoidance planning two years ago after hundreds of confidential tax deals it had awarded to big businesses were leaked. ...
McDonald's to move non-US tax base to UK image
Source : BBC [Read Article] Thursday 8th of December 2016 02:38:31 PM
.... . Companies were also "deciding it's no longer worth the hassle and the risk" of using low-tax arrangements due to work by the OECD on "base erosion and profit shifting" - or corporate tax avoidance, according to Ms Self. ...
Heard the latest Christmas story? It’s about how UK banks pay all their taxes | Prem Sikka image
.... It does not even contain an acknowledgement of the fact that the financial sector relies on support provided by taxpayers in the shape of loans and guarantees, or profits made through the private finance initiative (PFI). It is silent about the effective rate of corporation or capital gains taxes paid by financial services companies, profits shifted to tax havens, their tax avoidance schemes, or any sweetheart deals with HMRC. ...
HMRC chief calls for tax crackdown on Premier League footballers image
Source : Guardian [Read Article] Wednesday 7th of December 2016 08:08:13 PM
.... He said “the vast majority” of clubs were very open with inspectors about how they calculated such payments – though a minority were less forthcoming. Foreign players at top clubs are best placed to exploit the tax avoidance opportunities available through image rights payments. ...
MP calls for inquiry into José Mourinho tax avoidance allegations image
Source : Guardian [Read Article] Sunday 4th of December 2016 10:03:39 AM
....The European Investigative Collaborations consortium – which worked alongside several newspapers including Germany’s Der Spiegel and the Sunday Times – claims to have found evidence suggesting tax officials in Britain and Spain had been misled by Mourinho’s advisers. Real Madrid player Cristiano Ronaldo is also cited in the reports as having allegedly moved money to a tax haven in the British Virgin Islands in what the Sunday Times described as “highly aggressive tax avoidance”. ...
MPs warn of tax phone line 'collapse' image
Source : BBC [Read Article] Friday 2nd of December 2016 03:23:39 AM
....Tax credit removals criticised by MPs. The tax authority is aiming to make most processes automated and have more staff focusing on specialist work to crack down on tax avoidance and evasion. ...
'Disastrous decline' in HMRC customer service predicted due to cuts image
Source : Guardian [Read Article] Friday 2nd of December 2016 12:01:00 AM
.... They also questioned whether HMRC might be “painting too rosy a picture” of its success in reducing the gap between the amount of tax due and the total collected. The warnings come days after Philip Hammond pledged in the autumn statement that HMRC will retrieve £2bn lost to the exchequer via tax avoidance but was criticised for failing to pledge extra resources towards its revenue-raising department. ...
Tax avoidance: Philip Hammond pledges to retrieve £2bn image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 05:45:27 PM
. Philip Hammond has pledged to retrieve £2bn lost to the exchequer via tax avoidance, continuing the recent tradition of chancellors using set-piece speeches to target aggressive planning schemes. ...
Chancellor to close tax avoidance loophole exposed by Guardian image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 05:31:10 PM
. The chancellor is to close an aggressive tax avoidance scheme that was exposed by a Guardian investigation as depriving the taxpayer of “hundreds of millions” of pounds a year. ...

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