tagged w/ Tax Avoidance
-
The trial of 11 protesters who staged a sit-in at Fortnum and Mason in London gets started today.
The anti-tax avoidance demonstrators were charged with aggravated trespass after entering the luxury department store on Piccadilly in March 2010 in a protest that was described by a senior police officer who attended the scene as ‘non-violent’ and ‘sensible.’
145 protesters originally participated in the demonstration but charges were only brought against 17 people, resulting in 11 facing trial today.
The trial takes place at City of Westminster Magistrates Court on Marylebone Road, London, between midday and 2pm.
http://fortnum145.org/2011/10/27/come-to-the-workshops-as-the-trial-unfolds/The trial of 11 protesters who staged a sit-in at Fortnum and Mason in London gets... more
-
-
The Dutch Company Than Pays A Royalty.That Irish/Bermudan holding company sublicenses the IP to a Dutch company, which in turn sublicenses the IP back to another Irish company, which is an operating company wholly owned by the Irish/Bermudan holding company.The Dutch Company Than Pays A Royalty.That Irish/Bermudan holding company sublicenses... more
-
-
It seems to be a tax avoidance news day, with the Guardian reporting on a new deal which could allow Britons to avoid paying £40bn during a time of budget cuts.
"Murphy is a former KPMG accountant who wrote a report for the TUC in 2008 detailing how wealthy individuals and corporations based in the UK were avoiding £25bn a year in taxes. He said losses to the taxpayer could balloon over the next few years as more people move their accounts to Switzerland's lower tax regime."-Guardian
The quote is from Richard Murphy who heads tax research, he also states the lowered tax regime could effect the competitive nature of UK banks. The deal also means the UK tax authority would be limited in inquires into the tax affairs of a British individual.
"MEP Sharon Bowles, who chairs the European parliament's influential economic and monetary affairs committee, welcomed the deal but said she was concerned it lacked a retrospective element. She warned that Europe faced a €250bn (£223bn) tax fraud bill every year that governments must tackle."-GuardianIt seems to be a tax avoidance news day, with the Guardian reporting on a new deal... more
-
-
With the Coalition government stating it is taking a tough attitude towards tax avoidance, the biggest Conservative donor Lord Ashcroft said he would become a full UK taxpayer. The new rules would have meant Ashcroft would have to give up his peerage or start paying tax on his worldwide assets and earnings.
Though BBC's Panorama claims Ashcroft moved a £17m stake in his company Impellam to a trust fund for his children, the transaction took place a day before the new tax laws for members of the House of Lords were put into action.
According to the Guardian the tax taken in would have been £3.4m
"Tax lawyer Richard Frimston told Panorama that Lord Ashcroft would have faced a hefty inheritance tax bill under the new legislation if he had made the change one day later.
[...]
The billionaire businessman has not broken any rules by using the family trust, but his actions appear to conflict with the coalition government's stance on tax avoidance.With the Coalition government stating it is taking a tough attitude towards tax... more
-
-
(CNN) -- A federal appeals court has denied actor Wesley Snipes' claim that his three-year prison sentence for tax evasion was "unreasonable."(CNN) -- A federal appeals court has denied actor Wesley Snipes' claim that his... more
-
-
According to the Financial Times, over the last four years the overall Revenue and Customs money generated by tax probes into big businesses created a gain of £40bn.
"The Revenue’s overall crackdown on errors and avoidance generated £40bn for the Exchequer in the four years to March 2009, with the yield on inquiries rising by 64 per cent over the period."-FT (I have no idea about the finance industry but you get an impression from the article this is new and important)
Revenue & Customs are accused to be too aggressive when investigating companies, which brings back the fear of 'companies will leave and set up in other countries if it gets to tough here'. The article highlights the issue as a election battlefield for the Lib Dems and the Conservatives, where the Lib Dems propose a plan to close 'tax gaps' and the Conservatives say it won't work.
It sounds like the main argument is, some plans can stop transition avoidance but might not stop "shifts of intellectual property into low-tax jurisdictions."-FT
Article had no picture, so here are some pirates.According to the Financial Times, over the last four years the overall Revenue and... more
-
