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Taxation News

'Panama Papers' to go public May 9

Washington - The "Panama Papers" trove of leaked documents revealing the vast extent of global tax evasion will be made available to the public on May 9, the organization behind the leak said Wednesday.

South Africans sweet on sugary drinks despite fat tax

Johanesburg - South Africa plans a new "fat tax" on sugary drinks to combat an obesity epidemic -- but sweet-toothed consumers say its chances are slim of making them cut down.

French-U.S. art dealer's multi-million fraud trial opens in Paris

Paris - Several members of the Wildenstein art-dealing dynasty went on trial in Paris on Monday charged with stashing hundreds of millions of euros in inheritance money out of reach of the French taxman.

U.S. requests ex-Honduran VP's extradition on drug trafficking

Tegucigalpa - The United States has requested the extradition of former Honduran vice president Jaime Rosenthal, one of the country's biggest tycoons, whom it accuses of drug trafficking and money laundering, Tegucigalpa said.

Model Bar Refaeli grilled over massive Israel tax evasion

Jerusalem - Israel's most famous model Bar Refaeli was arrested and questioned for allegedly evading taxes on millions of dollars of income from abroad by lying about her residency, Israeli authorities said Thursday.

Opera star Montserrat Caballe given suspended jail for tax evasion

Barcelona - Spain's world-famous opera star Montserrat Caballe was handed a six-month suspended jail sentence and fined more than 250,000 euros ($275,000) on Tuesday for cheating the taxman.

OECD reveals plan for tax clampdown on multinationals

Paris - The world's advanced economies announced Monday a long-awaited plan to close the loopholes on tax-avoiding multinationals that cost countries more than $100 billion a year, declaring: "Playtime is over.

Greece suffers the moonshine blues as EU demands tax hike

Atenas - Distillers in Greece were aghast Friday over EU demands for the abolition of long-running tax exemptions believed to cost the cash-strapped state millions of euros in lost revenue.

Greek police find no sign of Varoufakis tax hacking

Atenas - Police in Greece have found no sign of electronic hacking into the tax files of millions of Greeks, which ex-finance minister Yanis Varoufakis claimed to have ordered as part of an emergency plan to deal with an exit from the euro, state agency ANA rep...

Outrage over green tax on renewables

London - There was incredulity in some quarters when the U.K. government unveiled its latest budget: the Conservatives are to extend an existing climate change levy to renewable electricity.

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,...
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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.