Tax Evasion

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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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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Tax authorities have so far identified some 2,400 individuals and corporations mentioned in the Panama Papers, MPs heard on Thursday. Of these, 1,300 are individuals and 1,000 legal entities, deputy tax commissioner Soteris Markides informed lawmakers. Among the names identified, around 700 had not submitted tax returns for years – a number going back to […]

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The options for going elsewhere might soon shrink. At least 16 other countries have committed to creating similar public registries, according to Global Witness. In Ottawa, Finance Minister Bill Morneau says the issue is on the radar. “We’re absolutely in favour of knowing who is registering companies, what their goals are and what taxes they […]

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In the Panama Papers, a massive database of 11.5 million internal documents from leading offshore incorporator Mossack Fonseca leaked to the International Consortium of Investigative Journalists and the newspaper Suddeutsche Zeitung, nominees are everywhere. There are nominee directors to sign corporate documents, nominee shareholders to appoint directors and even nominee beneficial owners, used to mask […]

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Tax authorities have so far identified some 2,400 individuals and corporations mentioned in the Panama Papers, MPs heard on Thursday. Of these, 1,300 are individuals and 1,000 legal entities, deputy tax commissioner Soteris Markides informed lawmakers. Among the names identified, around 700 had not submitted tax returns for years – a number going back to […]

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