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+3 +1
Panama Papers trial concludes with all defendants acquitted of money laundering
The founder of the now-shuttered law firm Mossack Fonseca was among those cleared in the long-awaited ruling that took more than two months to come down.
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+41 +1
The Spider's Web: Britain's Second Empire
The Spider’s Web: Britain's Second Empire, is shows how Britain transformed from a colonial power into a global financial power. At the demise of empire, City of London financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures in a web of offshore islands. Today, up to half of global offshore wealth may be hidden in British offshore jurisdictions and Britain and its offshore jurisdictions are the largest global players in the world of international finance. How did this come about, and what impact does it have on the world today?
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+15 +1
The Great Inheritors: How Three Families Shielded Their Fortunes From Taxes for Generations
In the early 1900s some of the wealthiest Americans claimed their fortunes would never last through the generations. A century of tax avoidance later, the dynasties are going strong.
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+25 +1
Billionaire defenders say their tax avoidance is perfectly legal. But is it?
A presumption of innocence is never afforded to poor people accused of petty theft. Yet billionaires benefit from it every day when it comes to taxes
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+13 +1
Biden Administration to Hire Additional 87,000 IRS Agents to Crack Down on Wealthy Tax Dodgers
Every year, billions of dollars in tax income are lost due to a variety of circumstances. To combat this and ensure equitable tax collection, the Biden administration is planning to recruit 87,000 extra IRS agents. Without a doubt, this is associated with the effort to collect adequate taxes from individuals and businesses with larger earnings… Continue reading Biden Administration to Hire Additional 87,000 IRS Agents to Crack Down on Wealthy Tax Dodgers
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+15 +1
Leader of church group sentenced on tax evasion charges
The leader of a New York-based Black Hebrew Israelite church was sentenced Tuesday to 18 months in federal prison after he admitted to using church funds to personally enrich himself, and then concealed the millions of dollars he stole from the federal government.
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+24 +1
Mormon Church accused of stockpiling billions, avoiding paying taxes
The Church of Jesus Christ of Latter-day Saints, commonly referred to as the Mormon Church, responded Tuesday to a recently-filed whistleblower complaint that accuses the church of stockpiling $100 billion in accounts intended for charitable works, misleading members and avoiding paying taxes.
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+18 +1
Historian’s epic rant against billionaires at Davos goes viral
Dutch historian Rutger Bregman’s epic rant against the super-rich in front of the super-rich at the World Economic Forum’s annual meeting in Davos has turned the 30-year-old into a viral social media star.
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+14 +1
Historian berates billionaires at Davos over tax avoidance
A discussion panel at the Davos World Economic Forum has become a sensation after a Dutch historian took billionaires to task for not paying taxes. In a video shared tens of thousands of times, Rutger Bregman, author of the book Utopia for Realists, bemoans the failure of attendees at the recent gathering in Switzerland to address the key issue in the battle for greater equality: the failure of rich people to pay their fair share of taxes.
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+24 +1
The Golden Age of Rich People Not Paying Their Taxes
An eight-year campaign to slash the IRS’s budget has left the agency understaffed, hamstrung, and operating with archaic equipment. The result: a hundred-billion-dollar heist. In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S. law, companies that do business in the Gulf of Mexico owe the American government a piece of what they make drilling for oil there or helping those that do.
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+10 +1
Four charged in US Panama Papers probe
Four men have been charged in the US with fraud and tax evasion in connection with investigations prompted by the leaked Panama Papers. Justice officials said the four were involved in a "decades-long criminal scheme perpetrated by Mossack Fonseca". Mossack Fonseca was the Panama-based law firm subjected to a massive leak of papers in 2016 that lifted the lid on hidden tax activities of the wealthy.
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+14 +1
PressProgress: Wealthy Elites Named in Offshore Tax Haven Leaks are Funders of BC’s Anti-Electoral Reform Campaign
Wealthy BC Liberal donors named in the Panama Papers are fighting to maintain the status quo in British Columbia.
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+13 +1
The CumEx-Files – How Europe's taxpayers have been swindled of €55 billion
The vast so-called cum ex tax scandal which has rocked Germany in the past decade has already cost the country an estimated €30 billion. It was assumed that a change in the law in 2016 definitively outlawed such trades. But as a cross-border and undercover investigation now reveals, the trade is still flourishing and has targeted far more countries and has cost far more than was previously thought, affecting nearly all of the biggest economies in Europe. Is this the heist of the century?
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+14 +1
Tax evasion: blacklist of 21 countries with 'golden passport' schemes published
A blacklist of 21 countries whose so-called “golden passport” schemes threaten international efforts to combat tax evasion has been published by the west’s leading economic thinktank. Three European countries – Malta, Monaco and Cyprus – are among those nations flagged as operating high-risk schemes that sell either residency or citizenship in a report released on Tuesday by the Organisation for Economic Cooperation and Development.
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+21 +1
Richest people work system to pay less tax than those on average wages
More than 80 of the country's wealthiest people are paying the same or less income tax as the average worker, a shocking report has revealed. Ten years on from the economic crash, a combination of clever accounting and loopholes is allowing some of the country's richest individuals to minimise their contribution to the State's coffers. The Comptroller and Auditor General (C&AG) reviewed how 480 people, classified as 'High Wealth Individuals' (HWI), interact with the Revenue Commissioners.
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+2 +1
The Revolution Against the Revolution
Looking back on Shays’ Rebellion. By David Black.
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+24 +1
The Trump Administration Finds A New Way To Hand Banks Even More Money
Do “financial services” include banking? Not according to the Trump administration… By David Sirota.
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+15 +1
Google is not an American company
It is nothing and nowhere and endless — and frankly, un-American. By Matthew Walther.
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+10 +1
Wealthy Canadians hiding up to $240B abroad, CRA says
Well-heeled Canadians have hidden up to $240.5 billion in foreign accounts and are dodging up to $3 billion a year in federal tax on those funds, according to the CRA's first ever attempt to estimate how much government revenue is lost from individuals stashing money abroad. The Canada Revenue Agency arrived at the figure as part of its effort to calculate the country's "tax gap" — the difference between how much the government would collect if everyone paid what they owe, and how much the government actually takes in.
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+15 +1
Lying to IRS very popular among crypto investors: Almost everyone is underreporting
Earning crazy money with bitcoin is fun. But paying taxes on those bucks is a little less fun for majority of investors. According to reports from Credit Karma tax platform, revealed by CNBC, fewer than 100 people out of 250,000 who claimed to have holdings in crypto reported capital gains on their crypto investments to IRS. That is a staggering 0,0004 percent!
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