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Blogs >> tax avoidance

Switzerland-based bank and financial services provider UBS has announced that it has resolved its "cross-border tax matter" with German authorities and agreed to pay €300 million to conclude the proceedings.

Published in Financial Integrity

The White House has made available Closing Corporate Tax Loopholes (26 July 2014), the text of United States President Barack Obama's latest weekly address at the White House.

Published in Financial Integrity

The European Commission (EC) has made available Facilitating tax compliance, Tackling non-compliance (3 July 2014), the text of a speech delivered by European Taxation Commissioner Algirdas Šemeta at the Intra-European Organisation of Tax Administrations' 18th general assembly in Belgrade.

Published in Financial Integrity

The United States (US) Department of Justice (DoJ), the US Attorney's Office for the Southern District of New York (USAO SDNY) and the Internal Revenue Service (IRS) have jointly announced that Switzerland-based asset management group Swisspartners has agreed to pay US$4.4 million and enter into a non-prosecution agreement with the USAO SDNY to resolve criminal charges of "assisting US taxpayer-clients in opening and maintaining undeclared foreign bank accounts".

Published in Financial Integrity

The United States Department of Justice (DoJ) has announced that Swiss national Andreas Bachmann has "pleaded guilty today to conspiring to defraud the [US] Internal Revenue Service (IRS) in connection with his work as a banking and investment adviser for US customers".

Published in Financial Integrity

Goldman Sachs Group Inc (GS) has decided not to proceed with a plan to delay the payment of UK bonuses, which had intended to take advantage of a cut in the top rate of income tax and thereby potentially save bankers tens of millions of pounds in tax. Despite being legal, the plan was met with much public criticism, including from Bank of England governor Sir Mervyn King, UK Treasury minister responsible for the City of London Sajid Javid and British Bankers' Association chief executive Anthony Browne.

Record Settlement of Visa Rorting Allegations

06 Nov 2013
Written by World Watch

The United States (US) Department of Justice (DoJ) has announced that India-based Infosys Corporation (Infosys) has agreed to pay a record sum of US$34 million in settling allegations of "systemic visa fraud and abuse of immigration processes".

The United States (US) Attorney's Office for the Southern District of New York (USAO SDNY) has announced that Liechtenstein-based bank Liechtensteinische Landesbank (LLB) is to pay over US$23.8 million to settle claims that it opened and maintained bank accounts for US taxpayers in order to assist them in evading tax payments and filing false tax returns with the US Internal Revenue Service (IRS).

Published in Financial Integrity

The Australian Taxation Office (ATO) has released Compliance in focus 2013-14 (July 2013), which "highlights the compliance risks attracting [the ATO's] attention and the actions [the ATO is] taking to deter, detect and deal with those who do not meet their tax and superannuation responsibilities".

Published in Financial Integrity

The state of New York has begun proceedings against United States (US) company Sprint Nextel Corp (Sprint), alleging that Sprint deliberately failed to bill customers for over US$100 million in taxes for its mobile phone services over a period of seven years in order to capture market share from competitors AT&T Inc and Verizon Wireless, and make its services US$4.6 million less expensive per month.

Published in Financial Integrity
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