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+14 +1
Disclosing the Costs of Corporate Welfare
A new government database will soon spotlight the true costs of corporate tax breaks.
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+3 +1
Experts who quit Panama’s transparency commission produce their own report
Report’s authors say that the U.S. and EU have the power to force other nations to embrace transparency reforms. By Michael Hudson.
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+33 +1
Health Law Tax Penalty? I’ll Take It, Millions Say
A lot of healthy people are defying predictions by the Affordable Care Act architects and refusing to enroll, throwing off the math behind the system. By Robert Pear.
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+43 +1
Tax authorities in Denmark buy 'Panama Papers' evidence
Tax authorities in Denmark have paid 805,000 euros ($903,000) for evidence of tax evasion by its citizens in the so-called 'Panama Papers.' About 600 people could be implicated.
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+18 +1
US companies are 'hoarding' a record $2.5 trillion in cash overseas
The amount of overseas cash is the highest in history, and it is unlikely to come back.
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+8 +1
Apple should repay Ireland €13bn, European Commission rules
Ireland should recover up to €13bn (£11bn) from Apple in back taxes, the European Commission has ruled. After a three-year investigation, it has concluded that the US firm's Irish tax benefits are illegal. The Commission said Ireland enabled the company to pay substantially less than other businesses, in effect paying a corporate tax rate of no more than 1%. Ireland and Apple both said they disagreed with the record penalty and would appeal against it.
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+17 +1
Hidden assets, hidden costs
Edward N. Luttwak reviews Bastian Obermayer and Frederik Obermaier's "The Panama Papers: Breaking the story of how the rich and powerful hide their money."
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+26 +1
Trusts keep wealth in the hands of the few. It’s time to stop this tax abuse
If there is a name that is synonymous with tax avoidance in the UK, it is that of the Duke of Westminster. The duke in question was, admittedly, the second duke, who in 1936 won an infamous tax case that permitted him to pay his gardeners in a way that avoided a tax liability. He achieved abiding fame as a consequence of the opinion of Lord Tomlin, who in his judgment on that case said: “Every man is entitled if he can to order his affairs so that the tax attracted under the appropriate act is less than it otherwise would be.
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+17 +1
Denmark Is Big Victim Of Wall Street Tax Avoidance Deals
The complex transactions add up to a meaningful loss of revenue from dividend taxes Danish taxpayers would otherwise get. By Cezary Podkul, Anne Skjerning and Tor Johannesson. (July 12, 2016)
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+18 +1
Vancouver housing: After dragging heels, Feds plan crackdown on tax cheats
A “bombshell” internal federal government document has triggered a new wave of accusations of government inaction in dealing with Vancouver’s housing affordability crisis.
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+2 +1
Sailing on the River Denial with Clinton Foundation & Friends
“Every chart, every ‘outcome’ and every ‘program’ listed in the 20 page report is a program or activity already conducted by the individual organizations represented at the one-day meeting, with no involvement with the Clinton Foundation….” By Amy Sterling Casil.
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+22 +1
Lionel Messi handed 21-month tax fraud sentence but is unlikely to serve time
Lionel Messi and his father Jorge have been sentenced to 21 months in prison for tax fraud, but the Barcelona forward is not expected to spend any time behind bars. The court of Catalonia on Wednesday found that the Messis had evaded tax on Lionel’s image rights, with more than €4m owed in back payments. But because the court’s sentence was less than two years and neither Messi has a criminal record, neither will be sent to prison.
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+19 +1
Google offices in Paris raided by tax authorities
About 100 investigators search tech firm’s HQ as part of inquiry into tax payments, reports claim
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+35 +1
Huge Panama Papers search database goes public Monday
On Monday, people everywhere will be able to see for themselves which politicians, celebrities and business executives allegedly kept secret shell companies that were exposed in the Panama Papers. A Google-like searchable database is expected to go live at 2 p.m. ET, detailing ties between 368,000 people and 300,000 offshore entities. It's being released by the International Consortium of Investigative Journalists.
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+30 +1
Iceland president's wife linked to offshore tax havens in leaked files
The president of Iceland is expected to come under pressure this week after leaked documents appeared to show that part of his wife’s considerable fortune was held in offshore tax havens. Ólafur Ragnar Grímsson, who has been in office for 20 years, last month surprised many by declaring he would stand for re-election again after serving five terms.
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+45 +1
There will be a huge new 'Panama Papers' data dump
The International Consortium of Investigative Journalists is about to unleash a huge data dump about how some of the world's wealthiest and most powerful people hide their cash. The group has already released a host of information regarding how major figures in politics and business store their wealth in tax havens. On Wednesday the ICIJ said in an email that on May 9 it would "publish what will likely be the largest-ever release...
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+45 +1
IRS Urges Americans: Come Clean Now, Before We Read Panama Papers
U.S. officials revealed to NBC News that they have taken part in two global meetings about the Panama Papers to plan how to use the huge trove of leaked documents to catch criminals — and urged Americans to come clean now before illegal activity is discovered. Last week's discussions in Paris and Washington between IRS and Treasury officials and their counterparts from around the world are the first evidence of U.S. involvement in the growing...
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+16 +1
Panama Papers details are correct but do not implicate me, says Putin
Vladimir Putin has said the revelations from the Panama Papers published in the Guardian concerning an old friend of his are true. However, the Russian president went on to say that the files demonstrate no illegal activity on his part. The papers link the cellist Sergei Roldugin to a number of offshore companies with cash flows of up to $2bn. During his annual phone-in with the nation, Putin discussed the documents with an irate caller who...
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+11 +1
Japan and the Panama Papers
A deeper insight into Japanese businessmen’s offshore deals. By Scilla Alecci and Alessia Cerantola.
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+3 +1
How Plutocrats Cripple the IRS
You pay more because elites use their influence to pay less. By Martin Lobel.
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