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Tax News

States can't fight Airbnb, so they are trying to tax it

A lot of states have come to understand that they can't completely get rid of Airbnb. However, a few states have decided to make money off of the home-sharing site by taxing it.

Tampon tax terminated in New York

On Thursday, New York became one of the handful of states to not tax menstrual products. This comes after Governor Andrew Cuomo signed legislation that eliminated local and state sales taxes on them.

Spain proposes tax hike to dodge EU deficit fine

Madrid - Spain's acting Economy Minister Luis de Guindos on Tuesday proposed hiking corporate taxes to avoid a fine from the European Commission for repeatedly failing to bring government deficits into line.

Google's Madrid offices 'raided in tax probe'

Madrid - Google's offices in Madrid were being searched in a tax probe Thursday, an internal source said, just over a month after police raided the Internet giant in Paris in a similar investigation.

Hollande bullish on French economy

Paris - President Francois Hollande said he expected the French economy to perform better than expected this year and add at least 200,000 new jobs, as the deeply unpopular leader shifts into campaign mode ahead of next year's elections.

LuxLeaks whistleblowers get suspended jail sentences

Luxembourg - Two whistleblowers in the "LuxLeaks" tax scandal were given suspended jail sentences on Wednesday for leaking thousands of documents that exposed Luxembourg's huge tax breaks for major international companies.

Swiss-based IT worker at Panama Papers firm released

Geneva - A Swiss-based IT worker arrested earlier this month on suspicion of stealing documents from the law firm at the centre of the Panama Papers scandal was released from custody on Friday, his lawyer said.

'Panama Papers' firm demands prosecution of suspect in Switzerland

Panama - The law firm at the center of the "Panama Papers" scandal says it expects the prosecution of a worker from its Geneva office detained on suspicion of stealing company documents.

IT worker at Panama Papers firm arrested in Geneva: report

Geneva - An information technology worker at the Geneva office of Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, has been arrested, Switzerland's Le Temps newspaper reported Wednesday.

French economy minister owes back-taxes: Media

Paris - France's Economy Minister Emmanuel Macron will have to pay back-taxes after authorities found he had undervalued a family property, two local media outlets claimed on Tuesday.

Panama Papers law firm closes Jersey, Gibraltar offices

Panama - The law firm at the heart of the Panama Papers revelations is closing its offices in the British-dependent territories of Jersey, Isle of Man and Gibraltar, it Tweeted.

Argentine president proposes amnesty for tax dodgers

Buenos Aires - Argentine President Mauricio Macri, who has been swept up in the Panama Papers controversy over offshore assets, announced plans Friday to grant amnesty to those who repatriate undeclared funds from overseas.

Mossack Fonseca to start legal action over 'Panama Papers' leak

Panama - The law firm at the center of the Panama Papers scandal says it is filing suit against the International Consortium of Investigative Journalists (ICIJ) for the leak of information it says is false.

'Luxleaks' trial verdict on June 29: Luxembourg judge

Luxembourg - A Luxembourg judge will deliver the verdict in the trial of two whistleblowers and a journalist in the "LuxLeaks" tax scandal on June 29, he said Wednesday.

LuxLeaks prosecutors seek 18 months' jail for whistleblowers

Luxembourg - Luxembourg prosecutors on Tuesday called for two whistleblowers on trial over the "LuxLeaks" scandal to be given jail sentences of 18 months, and for a journalist to be fined.

Treasure Islands: Britain's offshore hubs

London - Prime Minister David Cameron is under pressure to demand greater transparency from Britain's overseas tax havens, which critics say help promote and support corruption.

Panama Papers is a fight between world powers, says Panama leader

Panama - The Panama Papers revealing offshore secrets of the wealthy is really the result of a behind-the-scenes fight of big global powers, Panama's president said on Monday.

Panama Papers database on shell companies goes online

Washington - The public gained its first access to the Panama Papers records of over 200,000 secret offshore companies when the International Consortium of Investigative Journalists put a searchable database up online.

Panama braces for online release of Panama Papers

Panama - The Panama Papers scandal promises to deepen around the world on Monday when a journalists' group with access to the digital cache of documents is to put many of them online.

Panama Papers showed vulnerability of whole system: Panama president

Washington - The scandal triggered by the Panama Papers leak of information on how and where the world's wealthy stash funds to avoid detection or taxes underscored many countries' vulnerabilities, President Juan Carlos Varela said Tuesday.

LuxLeaks whistleblower 'proud' to open up tax issue

Luxembourg - The main whistleblower in the "LuxLeaks" scandal told his trial in Luxembourg on Tuesday that he was proud that leaking of thousands of secret documents had opened up the issue of tax avoidance in Europe.

LuxLeaks whistleblowers go on trial

Luxembourg - Three Frenchmen went on trial in Luxembourg accused of an "incredible" document leak that exposed huge tax breaks for major global companies, in an issue brought sharply into focus by the Panama Papers scandal.

Family of Iceland president's wife tied to 'Panama Papers'

Reykjav - Iceland's president on Monday denied knowing that his wife's family had offshore investments which were revealed in the "Panama Papers" leak following revelations in the Icelandic media.

Panama president seeks global efforts to handle tax haven row

Toukyo - Panamanian President Juan Carlos Varela called on Tuesday for global efforts to tackle the "Panama Papers" scandal, insisting it is not a problem just for his country but the international financial system as a whole.

Malta government survives 'Panama Papers' no confidence vote

Valletta - Malta's left-of-centre government survived a no confidence vote linked to revelations from the so-called Panama Papers, which named the energy minister and the prime minister's chief-of-staff.

Panama president vows tax cooperation with OECD: Kyodo

Toukyo - Visiting Panamanian President Juan Carlos Varela told a Japanese news agency on Monday that his country would cooperate with an OECD initiative to share tax information in the wake of the "Panama Papers" scandal.

Panama Papers claim new victim as Spain minister quits

Madrid - The worldwide "Panama Papers" scandal claimed a fresh political victim Friday as Spain's industry minister resigned over allegations he had links to offshore companies.

Kremlin apologises to German paper for Putin's Panama leak claim

Moscow - The Kremlin on Friday apologised to German newspaper Sueddeutsche Zeitung after President Vladimir Putin wrongly claimed it was owned by US bank Goldman Sachs as he sought to discredit leaks from the Panama Papers.

Putin admits Panama Papers 'accurate,' blames U.S.

Moscow - Russian President Vladimir Putin on Thursday acknowledged the accuracy of the Panama Papers revelations, but claimed funds had been spent on musical instruments as he blamed the leak on the United States.

Panama Papers reveal Hong Kong's murky financial underbelly

Hong Kong - Jasmine Li was still a student when she opened her first offshore bank account through Mossack Fonseca Hong Kong, but the shady world she entered that day had been part of the city's underbelly for decades.
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Duncan Lee  an American CPA and Tai Ji Men dizi  explained the details of Tai Ji Men tax case.
Duncan Lee, an American CPA and Tai Ji Men dizi, explained the details of Tai Ji Men tax case.
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A plastic bag in Toronto
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Microsoft’s small business blog argued that the new Xbox One is a tax-deductible expense.
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Anti-HST protesters in Victoria, B.C.
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