Taxation News

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

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.

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.

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.

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.

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 ...

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...

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...

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...

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,...