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Tax News

Swissleaks leaker says not planning to attend Swiss trial

Divonne-les-bains - A former HSBC employee who leaked documents alleging the bank helped clients evade millions of dollars in taxes said Wednesday he would not attend his trial in Switzerland because he would not get a fair hearing.

Merkel says no plans to raise taxes over refugee influx

Berlin - German Chancellor Angela Merkel said Sunday her government had no plans to impose a tax hike to cope with a record influx of asylum seekers, firmly denying reports that Berlin and the European Commission were mulling a special refugee solidarity levy.

EU agrees greater transparency on tax deals after LuxLeaks scandal

Luxembourg - EU ministers agreed on Tuesday to a mandatory system for national authorities to automatically exchange information on secret tax deals made with multinationals, a decision made in the wake of the LuxLeaks scandal.

EU's Juncker warned about Luxembourg tax deals in 1997: Letter

Brussels - European Commission chief Jean-Claude Juncker was alerted in 1997 about the risks of tax breaks his then government in Luxembourg granted multinationals, according to a document obtained by AFP on Thursday.

City of Boston considering taxing alcohol to fight addiction

Boston - Two city councilors in Boston have proposed a 2 percent tax on all alcohol sold in the city, with the revenue used to tackle the addiction crisis.

Greece orders tax fraud probe at Knossos museum

Atenas - Greece's government ordered a tax fraud inquiry Friday at one of the country's most visited archaeological sites, after tourists claimed its gift shop was not giving receipts for souvenirs bought there.

Hungarian tax office head quits over U.S. entry ban scandal

Budapest - Hungary's tax office chief, whose US entry visa ban last year over alleged corruption soured relations between Washington and Budapest, has resigned, the country's economy ministry said Monday.

Chicago to charge tax on streaming services like Netflix

Chicago - People who live in Chicago will soon pay more for streaming services, including Spotify and Netflix, due to the 'Cloud Tax' that takes affect in a few weeks.

Spanish authorities search ex-IMF chief Rato's office for 2nd day

Madrid - Spanish tax authorities carried out new searches of former IMF chief Rodrigo Rato's Madrid offices in a money-laundering probe as the country questioned whether he had been made a scapegoat in the ruling Popular Party's anti-corruption drive.

Nina Ricci heiress gets prison term for tax fraud

Paris - A Paris court on Monday sentenced Nina Ricci's heiress to a year in prison and handed her a million-euro fine for tax fraud, in the first ruling against a famous figure in the SwissLeaks scandal.The court said Arlette Ricci, 73, had hidden some 18.

U.S. companies have $2.1 trillion worth of profit stored overseas

The U.S. Congress must find a way to tax offshore profits stored by some of the world's largest corporations. Currently letting their earnings safely mount up abroad, lawmakers are considering a special "deluxe" tax rate to get money from the companies.

Swiss raid HSBC in money laundering probe

Geneva - Swiss authorities on Wednesday raided the offices of British banking giant HSBC's Swiss unit as part of a money laundering probe into the bank that has been accused of helping clients to dodge millions of dollars in taxes.

Le Monde under fire from its businessmen owners over Swissleaks

Paris - Journalists at French newspaper Le Monde reacted angrily Wednesday to criticism from two of the paper's businessmen owners over its decision to publish the names of wealthy HSBC clients who dodged tax by opening Swiss accounts.

SwissLeaks whistleblower's tale worthy of a spy novel

Paris - Herve Falciani was once just an IT worker at a big bank, but since running off with hundreds of thousands of damaging documents from banking giant HSBC he has been alternately called a hero and a thief."He is brave. We have the highest opinion of Mr.

HSBC 'SwissLeaks' leaker urges more support for whistleblowers

Geneva - The man who stole the trove of secret files that sparked a global scandal over banking giant HSBC's alleged assistance to wealthy tax dodgers called Monday for more protections for whistleblowers.

HSBC 'tax dodge' revelations are just tip of iceberg, says leaker

Geneva - The former HSBC employee who leaked sensational secret documents alleging the bank helped wealthy customers dodge millions of dollars in taxes warned Tuesday that the revelations are just the "tip of the iceberg".

France's 75% 'supertax' quietly dies with few mourners

Paris - Once a flagship policy of French President Francois Hollande, the 75-percent "supertax" on top earners limps into its final weeks this month having sparked plenty of controversy but few economic results.

EU's Juncker says no 'conflict of interest' over Luxembourg tax breaks

Brussels - European Commission head Jean-Claude Juncker said Wednesday he faced no conflict of interest in his new post over investigations into huge tax breaks agreed with top international firms when he was Luxembourg premier.

Berkeley soda pop tax gets 75% support despite Big Soda lobby

Berkeley - Berkeley, California last week became the first city in the United States to institute a tax on soda pop and other sugary beverages.

Luxembourg, Juncker under fire after global tax leaks

Brussels - EU finance ministers meet in Brussels Friday, with revelations about Luxembourg's tax breaks for big firms putting pressure on former premier Jean-Claude Juncker, the new European Commission president.

ICIJ: blowing the whistle on corporate tax schemes

Washington - The International Consortium of Investigative Journalists (ICIJ), which on Thursday revealed a massive tax avoidance system organised by Luxembourg, is a collective of journalists spanning more than 60 countries seeking to root out cross border crime, ...

Luxembourg, Juncker under fire after global tax leaks

Brussels - Luxembourg and its former premier Jean-Claude Juncker -- now head of the European commission -- came under fire Thursday after leaked documents showed the tiny nation gave hundreds of global firms huge tax breaks.

Anger mounts in Hungary over Internet tax

Budapest - A proposed Hungarian tax on Internet usage has sparked new accusations of an anti-democratic crackdown in the EU member as tens of thousands are expected to march against the measure Sunday.

Washington's yoga community opposes 'yoga tax'

The Washington D.C. city council will be imposing a 5.75 percent sales tax on facilities that provide fitness services starting from October 1.

The cost of scientific fraud revealed

According to a new study, each science paper exposed as incorrect and which is subsequently retracted because of research misconduct costs taxpayers roughly $400,000.

Op-Ed: Shareholders push Google to pay $2 billion in taxes

At Google’s annual shareholder meeting in Mountain View hundreds of thousands of consumers around the world are joining with Google shareholders in a resolution urging the corporation to pay more than $2 billion in taxes owed around the world.

Make the most of your tax refund

If you're among the lucky folks getting money back from the feds, here are a few ways to ensure you get the biggest bang out of those bucks.

Apple pays $193M tax in Australia

An investigation in Australia revealed the billions of dollars Apple has shifted in profits in an effort to minimize the company's tax.

Some big U.S. companies dodge state income taxes: Study

Some profitable U.S. corporations that avoid paying federal income taxes manage to do the same in states where they operate, said a study issued on Thursday by a tax activist group. From 2008 through 2012, ten U.S.
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Anti-HST protesters in Victoria  B.C.
Anti-HST protesters in Victoria, B.C.
Tony Sprackett
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.
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.
A plastic bag in Toronto
A plastic bag in Toronto