Tax evasion

Paradise Papers leak shows Tax Haven secrets of Ultra-Rich of the World

The Paradise Papers document leak revealed more than 13.4 million internal documents on Sunday showing how major world players take advantage of offshore tax havens, including Britain’s Queen Elizabeth II’s private estate, media reports said on Monday. The leak, known as the Paradise Papers, comes more than a year after the Panama Papers, for which the International Consortium of Investigative Journalists won a Pulitzer Prize for exposing offshore banking practices of the world’s elite.

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Greek Drama continues: high taxes cause a hole in state budget

The data breakdown from this year’s tax returns so far confirm what Greece’s finance ministry officials were afraid all along: Declared income from freelancers dropped by 20%, compared to last year.

According to a Kathimerini newspaper report, the tax burden on professionals and freelancers has led to tax evasion. The negative development will not only have an impact on this year’s budget but future budgets too, which has generated concern at the ministry ahead of the third bailout review, especially given the International Monetary Fund’s view that Greece will not be able to achieve the target for a primary surplus of 3.5 percent of gross domestic product from next year.

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OECD report shows progress on fair international tax system

International tax systems are making progress in becoming fairer and more effective, a report led by OECD Secretary-General Angel Gurría has concluded.
In the report compiled ahead of the G20 summit in Hamburg this weekend, Gurria said the improvement of tax systems in global economies has been a major achievement of the group of states.

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