Tax Evasion

Flags of Hong Kong and China. (File Photo) Hong Kong is beefing up its anti-money laundering and corporate disclosure laws, in a move that some financial crime specialists say could lead to the exodus of billions of dollars in assets from the territory as people seek to avoid increased scrutiny. The Chinese territory’s government has […]

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By Ben Stupples The chairman of the EU’s Panama Papers inquiry has slammed the U.K. Treasury’s refusal to meet with investigators, raising concern over Britain’s commitment to the high-level investigation. It was “most disappointing and regrettable that no one at the political level at HM Treasury was able or willing to meet” during the trip […]

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HONG KONG Hong Kong is beefing up its anti-money laundering and corporate disclosure laws in a move that some financial crime specialists say could lead to the exodus of  billions of dollars in assets from the territory as people seek to avoid increased scrutiny. The Chinese territory’s government has been rattled by last year’s Panama […]

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By Ben Stupples The U.K. is close to becoming a “prime tax haven,” according to the vice chairman of the European Parliament’s investigative committee on the Panama Papers. The British government is “sabotaging” work on the European Union’s blacklist for tax havens, despite promises to crack down on tax evasion, Fabio De Masi, a German […]

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Mossack Fonseca Group Who: Founded by Jurgen Mossack, who was born in Germany in 1948, and Ramon Fonseca, born in Panama, 1952 When: Established in 1977; became Mossack Fonseca in 1986, when the law firms merged What: A global company that provides comprehensive legal, trust and wealth management services. Incorporates, administers companies in offshore jurisdictions […]

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A daily roundup of corruption news from across the Web. We also provide a daily roundup of important risk compliance stories via our daily newsletter, The Morning Risk Report, which readers can sign up for here. Follow us on Twitter at @WSJRisk. Bribery: The former CEO of PLC was questioned by the U.K. Serious Fraud Office […] […]

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On Thursday Panamanian police raided the head office of Mossack-Fonseca, the law firm at the heart of an international tax evasion scheme, as its founding partner accused Panama’s president of accepting bribes in the ever widening Odebrecht corruption scandal. OPINION:Odebrecht: A New Virus Spreads Through Latin America Ramon Fonseca Mora — founder of the controversial […]

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By Ben Stupples The U.K. is close to becoming a “prime tax haven,” according to the vice chairman of the European Parliament’s investigative committee on the Panama Papers. The British government is “sabotaging” work on the European Union’s blacklist for tax havens, despite promises to crack down on tax evasion, Fabio De Masi, a German […]

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By Ben Stupples The European Parliament’s Panama Papers inquiry committee will hold secret fact-finding meetings in London over the next two days to identify global strategies against tax evasion. During a two-day trip to England’s capital, the European Parliament’s Panama Papers committee will meet U.K. accounting and legal professionals, academics, non-governmental organizations, and representatives from […]

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When Argentina launched a tax amnesty program last year to bring billions of dollars back into the country, it found support from an unlikely corner: the banks whose clients had stashed money abroad. President Mauricio Macri had no shortage of motivation to initiate the amnesty plan. Some $400 billion in undeclared funds was being held […]

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By Ben Stupples The European Parliament’s Panama Papers inquiry committee will hold secret fact-finding meetings in London over the next two days to identify global strategies against tax evasion. During a two-day trip to England’s capital, the European Parliament’s Panama Papers committee will meet U.K. accounting and legal professionals, academics, non-governmental organizations, and representatives from […]

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The Canada Revenue Agency’s offshore tax evasion tip line has resulted in signed contracts with more than 20 informants and more than $1 million in tax reassessments and penalties. The tips have also resulted in audits of 218 Canadian taxpayers, some of which have been completed and some of which are still being conducted. However, the […]

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By William Shaw Law360, London (January 30, 2017, 8:30 PM GMT) — A major European Parliament committee will next month investigate the role played by lawyers, accountants and bankers in the tax evasion networks revealed in last year’s Panama Papers leaks, the European Union legislative body said Monday. The Committee of Inquiry into Money Laundering, […]

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By Murray Griffin A meeting of 30 tax administrators to share information on the Panama Papers tax evasion scandal shows taxpayers can no longer expect to keep their tax planning secret, according to a former delegate to the alliance of tax agencies. Commenting Jan. 24 on a Paris meeting of the Joint International Taskforce on […]

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