Tax Evasion

After years of trying to build public and media support, significant progress has been made with the last two federal budgets in the fight against overseas tax evasion. Finally, the federal government is providing the Canada Revenue Agency (CRA) the resources it needs to take on those who hide their money in overseas tax havens. […]

Malta’s embattled prime minister, Joseph Muscat, is facing a growing rebellion in Brussels, where MEPs are openly calling for his departure amid a growing corruption scandal involving his wife, a Panamanian shell company and alleged payments from the president of Azerbaijan’s daughter. The Mediterranean island state’s presidency of the EU, which began in January, has […]

After years of trying to build public and media support, significant progress has been made with the last two federal budgets in the fight against overseas tax evasion. Finally, the federal government is providing the Canada Revenue Agency the resources it needs to take on those who hide their money in overseas tax havens. The […]

Panama City (AFP) – The co-founder of the law firm at the center of the Panama Papers scandal says the fallout has set off a “thriving” boom in the creation of tax shelters in the United States. Juergen Mossack, who partnered with Ramon Fonseca to create the Panamanian firm Mossack Fonseca, said in a document […]

Luxembourg has shared information with other countries on cases of possible tax evasion in relation to the ‘Panama Papers’, according to Finance Minister Pierre Gramegna. Gramegna, responding to a request from the EU Investigation Committee on Money Laundering, Tax Avoidance and Tax Evasion (PANA), said the exchanges took place partly spontaneously and partly at the […]

NEW DELHI: The Income Tax department has sent over 260 requests overseas seeking information in connection with its tax evasion probe in the Panama papers leak case. The Enforcement Directorate (ED) has also initiated investigations in 49 cases to probe the alleged contravention of forex laws by the entities named in this list under the […]

NEW DELHI: The Income Tax department has sent over 260 requests overseas seeking information in connection with its tax evasion probe in the Panama papers leak case. The Enforcement Directorate (ED) has also initiated investigations in 49 cases to probe the alleged contravention of forex laws by the entities named in this list under the […]

by Mary Swire, Tax-news.com, Hong Kong 02 May 2017 The total loss to EU member states from the schemes revealed in the Panama Papers could be in the region of between EUR109bn (USD119bn) to EUR237bn, according to a new study commissioned by the European Parliament’s PANA committee. The Committee of Inquiry into Money Laundering, Tax […]

Luxembourg has shared information with other countries on cases of possible tax evasion in relation to the ‘Panama Papers’, according to Finance Minister Pierre Gramegna. Gramegna, responding to a request from the EU Investigation Committee on Money Laundering, Tax Avoidance and Tax Evasion (PANA), said the exchanges took place partly spontaneously and partly at the […]

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By Vidya Kauri Law360, New York (April 25, 2017, 6:37 PM EDT) — The European Union lost at least €109 billion ($119 billion) in revenue in 2015 as a result of tax avoidance schemes identified during the Panama Papers leak and should expand the scope of anti-money laundering laws to cover banks and law firms, […]

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The Panama Papers affair was the result of painstaking work by International Consortium of Investigative Journalists, who released more than 11.5 million financial and legal records exposing a system that enables crime, corruption and wrongdoing, hidden by secretive offshore companies. ​Despite the leaks and the outrage that follows, a new report from Transparency International has found that — notwithstanding a lot of political […]

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