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Tax News

Art dynasty heir Wildenstein cleared of tax fraud in Paris

Paris - The Franco-American patriarch of the Wildenstein art-dealing dynasty was cleared Thursday by a Paris court of massive tax fraud, in a long-running saga sparked by family battles that had gripped high society watchers.

Verdict due in art dynasty scion's French tax fraud case

Paris - A French court will on Thursday rule in the case of Franco-American art dynasty scion Guy Wildenstein, who is accused of keeping paintings and properties worth hundreds of millions of euros from the taxman.

Prosecutors recommend reduced sentences for LuxLeaks whistleblowers

Luxembourg - Prosecutors on Monday recommended reduced sentences for two whistleblowers in the "LuxLeaks" tax scandal during closing arguments at an appeal trial in Luxembourg.

Argentine president probed for nepotism in tax amnesty

Buenos Aires - Argentine authorities opened an investigation Tuesday into President Mauricio Macri for alleged nepotism in a controversial decree that extended a tax amnesty to his father and other officials' families.

LuxLeaks whistleblowers appeal jail sentences

Luxembourg - Two whistleblowers and an investigative reporter in the "LuxLeaks" tax scandal return to court on Monday for leaking thousands of documents that exposed Luxembourg's huge tax breaks for major international companies.

Sarkozy wants tax on US products if Trump scraps Paris climate pact

Paris - French presidential candidate Nicolas Sarkozy has proposed that Europe apply a carbon tax on American imports if Donald Trump pulls the United States out of the Paris climate pact.

Berlin takes aim at shell company tax cheats

Berlin - Germany is looking to intensify its crackdown on tax evaders who are stashing their assets in offshore companies, according to a draft law seen by AFP on Thursday.

Jihadists storing loot at Swiss port? Geneva says no way

Geneva - When a leading French politician said Switzerland's free ports were helping terrorists hide stolen assets, Swiss officials offered a blunt rebuke.

EU launches new ethics probe into ex-commissioner

Brussels - The EU said Thursday it has launched a new ethics probe after revelations that former competition commissioner Neelie Kroes failed to declare an interest in a Bahamas-based firm when in office.

Dead Frenchwoman hit with tax demand — in her grave

Rennes - Combining the old adage about death and taxes, French authorities have sent a demand for property duties to a dead woman -- addressed to her grave in a small town in Brittany.

Denmark pays for Panama Papers data on own citizens

Copenhagen - The Danish tax authority said on Thursday it had paid an anonymous source almost six million kroner (0.81 million euros, $0.9 million) for leaked data from the Panama Papers on hundreds of Danes.

Germany's 'James Bond' goes on trial over tax evasion

Bochum - Germany's former top spy, Werner Mauss, went on trial Monday accused of hiding some 15 million euros from the tax authorities.

EU seeks 'clarification' from top ex-official over Bahamas link

Brussels - The EU on Thursday said it was seeking answers from Neelie Kroes, a former top competition regulator, as to why she had failed to declare an interest in a Bahamas-based firm when in office.

Amount hoarded overseas by U.S. companies hits new record in 2015

The recent fight among Apple, Ireland, and the European Union has once again shined a spotlight on the growing trend of US companies storing cash overseas to avoid taxes.

Denmark to pay for Panama Papers data on tax evaders

Copenhagen - The Danish government said on Wednesday it would pay an anonymous source for leaked data from the Panama Papers on hundreds of Danish taxpayers.

Irish cabinet agrees to appeal EU's Apple tax ruling

Dublin - Ireland's government on Friday agreed to appeal against an EU ruling ordering Apple to pay the country 13 billion euros ($15 billion) in back taxes and said parliament would be recalled early to debate the issue.

Multi-billion Apple windfall puts Ireland in unusual bind

Dublin - The European Commission's demand for Apple to pay Ireland some 13 billion euros in back taxes has put the country in the strange position of refusing the windfall for fear of scaring away valuable investment.

Apple ordered to pay record 13 bn euro Irish tax bill

Brussels - The European Union on Tuesday ordered Apple to pay a record 13 billion euros in back taxes in Ireland, saying deals allowing the US tech giant to pay almost no tax were illegal.

Stiglitz quits Panama Papers clean-up committee

Panama - Nobel prize-winning US economist Joseph Stiglitz has resigned from a committee of international experts named to help reform Panama's financial services sector after the Panama Papers scandal, the government said Friday.

Luxembourg appeals verdicts in LuxLeaks tax scandal

Luxembourg - Luxembourg has lodged an appeal against the verdicts handed down to three LuxLeaks whistleblowers who exposed the small duchy's huge tax breaks for giant multinationals, the justice department said Tuesday.

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.
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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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Anti-HST protesters in Victoria  B.C.
Anti-HST protesters in Victoria, B.C.
Tony Sprackett
Microsoft’s small business blog argued that the new Xbox One is a tax-deductible expense.
Microsoft’s small business blog argued that the new Xbox One is a tax-deductible expense.
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