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Taxation News

Portugal PM seeks to fend off tax controversy

Lisbon - Portuguese Prime Minister Pedro Passos Coelho on Wednesday sought to calm a storm over his late payment of taxes and social security contributions as protesters shouted for him to resign.

Op-Ed: The failure and success of legal cannabis in Colorado

Denver - Colorado is home to the great marijuana experiment. A completely legal cannabis industry that is trying to prove to the world that a legal cannabis market makes sense. While some have praised the decision, others have expressed doubt.

Op-Ed: Proposed tax on foreign-parked corporate profit a good idea

President Barack Obama scores another winner with his proposal to offer a temporary, 14 percent tax on U.S. corporations' foreign-parked profits, followed by a 19 percent tax after this year. This tax is intended to pay for infrastructure improvements.

Op-Ed: Greed, taxation, and incompetence

Calgary - While low oil prices wreak havoc on Alberta's economy, costing jobs, the men and women at City Hall are laughing all the way to the bank with new pay raises at a time when many Calgarians wonder if they will soon hit the unemployment line.

U.S. congressman Grimm resigns after tax scandal

New York - A newly re-elected U.S. congressman said Tuesday he would step down, one week after he pleaded guilty to felony tax evasion in New York.

Thousands of French business owners protest taxes, red tape

Paris - Thousands of business owners took to the streets in French cities Monday in a rare protest against hefty taxes, charges and stifling regulations they say are driving their firms into the ground.

Swiss widely reject eco-linked immigration-cap: initial results

Geneva - The Swiss on Sunday flatly rejected a call for dramatic immigration cuts in the name of saving the environment, along with bids to scrap tax breaks for rich foreigners and hike the country's gold reserves.

Tax summit in Berlin aims to say goodbye to banking secrecy

Berlin - The finance ministers of around 50 countries meet in Berlin on Wednesday to sign a deal they hope will put an end to banking secrecy and aid the worldwide fight against tax fraud and evasion.

Anti-tobacco conference struggles to stub out lobbyists

Moscow - A major conference in Moscow aimed at cutting global smoking rates this week found itself grappling with another issue: how to stop the powerful tobacco lobby from butting in on the debate.

Indian finance minister pushing for low-tax regime

New Delhi - Indian Finance Minister Arun Jaitley changed his cover photo on his Facebook profile a few days ago to reflect his and his government's attitude that favors a low-tax regime conducive for business.

Caterpillar used Swiss havens to avoid US tax: Senate

Washington - US Senate investigators have accused heavy equipment giant Caterpillar of hiding $8 billion in profits offshore in Switzerland to avoid US taxes.

Japan shoppers see first sales tax rise in 17 years

Tokyo - Prices rose across Japan Tuesday as a controversial sales tax rise came into effect, with everything from beer to washing machines costing more, sparking fears a drop in consumer spending will derail a nascent economic recovery.

Japan shoppers see first sales tax rise in 17 years

Tokyo - The price of everything from beer and sushi to cars and dishwashers will rise across Japan Tuesday as shoppers are greeted by the first sales tax rise in 17 years, which has prompted fears of a drop in consumer spending.

Japan shoppers brace for tax hike after years of deflation

Tokyo - Japan is bracing for its first sales tax rise in years, with last minute shoppers buying up a host of goods from gold to ice cream, as the government tries to tackle its crushing national debt.

US says Bitcoin is taxable as property, not a currency

Washington - The US tax authority on Tuesday ruled that Bitcoin will be taxed as property, like stocks or real estate, rather than as a basic currency like the dollar.

Japan shoppers splash out the yen before tax rise

Tokyo - Tokyo resident Reiko Oguma is splashing out the yen in a last-minute buying spree as she and millions of Japanese shoppers brace for the country's first sales tax hike since the late 1990s.Oguma, a forty-something housewife, reckoned there was no time ...

Bayern Munich president Hoeness jailed for three and a half years

Munich - A German court on Thursday sentenced football legend Uli Hoeness, president of powerhouse club Bayern Munich, to three and a half years in jail for evading millions in taxes."In the name of the people, Mr Ulrich Hoeness is sentenced for seven serious c...

Prosecutors seek 5 years' jail for Bayern Munich boss

Munich - German prosecutors demanded five and a half years' jail Thursday for Bayern Munich boss Uli Hoeness for evading millions in taxes.Prosecutor Achim von Engel sought the prison term for major tax fraud ahead of a verdict expected after 1300 GMT in a tria...

Ex-Swiss banker pleads guilty in US tax evasion case

New York - A former banker of Credit Suisse Wednesday pleaded guilty to assisting US customers avoid taxes by hiding assets in secret Swiss bank accounts.Andreas Bachmann, a Swiss citizen, admitted that between 1994 and 2006 he engaged in a "wide-ranging" conspir...

Bayern Munich boss Hoeness could face jail Thursday

Munich - German football legend Uli Hoeness, head of powerhouse club Bayern Munich, faces a verdict and possible jail term Thursday after he admitted in court to having evaded millions in taxes."If tomorrow there are no more applications to submit new evidence,...

Bayern chief's tax dodge 'millions more' than admitted

Munich - The legal troubles of Bayern Munich boss Uli Hoeness deepened on Tuesday as the alleged scale of his tax fraud grew by millions more in a high-profile trial in Germany.Hoeness, who is fighting to avoid a jail term, now stands accused of having dodged 2...

Germany's Bayern football boss to face tax trial

Berlin - German football legend Uli Hoeness, boss of champion club Bayern Munich, will face a high-profile tax evasion trial from Monday, accused of having stashed away millions in Switzerland.The folksy 62-year-old Bavarian club president, who also runs a flou...

MtGox faced 150,000 attacks per second: report

Tokyo - Bitcoin exchange MtGox faced massive hacker offensives last month, coming under some 150,000 DDoS attacks per second for several days ahead of its spectacular failure, a report said Sunday.The Tokyo-based exchange, which filed for bankruptcy protection...

Japan says Bitcoin not a currency, but taxable

Tokyo - Japan's government said Friday that Bitcoin is not a currency but that it "is natural" that transactions involving the virtual unit should be taxed."As a matter of common sense, if there are transactions and subsequent gains, it is natural...

Japan eyes Bitcoin regulations, taxes

Tokyo - Japan may slap regulations on Bitcoin including taxing transactions, a report said on Wednesday, as the global digital currency suffered another alleged theft that cast doubt on its reliability.Tokyo will issue new guidelines, possibly this week, which...

Japan considers Bitcoin tax after MtGox failure

Tokyo - Japan is looking at ways to tax Bitcoin transactions, a report said Tuesday, in the wake of the spectacular failure of the Tokyo-based MtGox exchange after a half-billion-dollar theft.The finance ministry and the national tax agency are studying possib...

Global tax evasion under G20 scrutiny

Sydney - US Treasury Secretary Jacob Lew described taxation reform as among the G20's most crucial initiatives Friday as the world's major economies look to close loopholes used by huge multinational firms."The G20's work on tax cooperation is among our most im...

EU antitrust chief says looking into corporate tax loopholes

European Union regulators are examining corporate tax loopholes across Europe that allow companies to cut their tax bills, to see if they are anti-competitive, the EU's antitrust chief said on Tuesday.

France's Hollande slams Internet giants on tax

Paris - President Francois Hollande said Thursday that France would not continue to tolerate the tax optimisation strategies used by multinational Internet giants like Google.

'French to make 1 bn euro tax claim against Google'

Paris - French authorities have decided to make a tax claim of 1 billion euros against Google following a probe into the tax strategies by the US Internet giant, Le Point magazine reported Tuesday.
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The US Government is currently unable to appropriate anymore of your money  so some of its agencies ...
The US Government is currently unable to appropriate anymore of your money, so some of its agencies have been shut down.
Appropriations = theft. So does taxation.
Appropriations = theft. So does taxation.