According to research by Tax Foundation, a Washington, U.S. based tax policy research organization, Estonia’s tax code is the best among Organization for Economic Cooperation and Development (OECD) member states […]
The National Tax Agency of Japan has gathered details on 400,000 overseas bank accounts held by Japanese nationals in about 50 countries in a bid to fight fiscal evasion as […]
After a weekend of high-stakes negotiations between Seattle City Council members and Mayor Jenny Durkan, the council voted unanimously Monday to tax the city’s largest employers to help address homelessness. […]
Switzerland and the United States are the biggest promoters of financial secrecy according to an index published today by the Tax Justice Network (TJN). The index ranks countries based on their level of secrecy and the percentage of financial services provided to non-residents.
The Council of the European Union announced Tuesday that the EU has amended its blacklist of jurisdictions that it deems uncooperative in tax matters, removing eight jurisdictions from that list.
EU finance ministers removed eight ‘entities’ – countries and territories – from the tax havens blacklist, while ruling out more transparency or sanctions.
Apple said on Wednesday it would make a one-time payment of $38bn to repatriate some of its vast overseas cash holdings, one of the largest corporate spending plans announced since the passage of a tax cut signed by U.S. President Donald Trump.
The company, which has faced international criticism for its tax evasion policies, also said it would spend $30bn in the US over the next five years, creating 20,000 new jobs.
Pakistan and Switzerland will begin exchanging information from the current month under the Convention on Avoidance of Double Taxation (ADT), as the Senate Standing Committee on Finance was informed. However, they said information exchange would only be applicable on future cases.
Google saved itself as much as $3.7 billion in 2016 by moving 16 billion euros between Ireland, the Netherlands, and Bermuda using infamous legal loopholes that allow it to skirt high tax responsibilities overseas, according to a report from Bloomberg. Citing regulatory filings in the Netherlands, Google uses two structures, known as a "Double Irish" and a "Dutch Sandwich," to shield the majority of its international profits from taxation. The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company.
