Thursday, December 08, 2016

Panama Papers have had historic global effects — and the impacts keep coming

Tax Inspectors Without Borders announces new South-South partnership between Kenya and Botswana No Borders

Samsung tells South Korea corruption inquiry of 'gift horse'  

Bill Black, the author of The Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. at New Economic Perspectives

The ATO has advised that it will soon publish the corporate tax transparency report for the year 2014/15. The report will be available on the website. The ATO will also publish aggregated analysis of the data. The ATO is required under s 3C of the TAA 1953 to publish information from the tax returns of certain corporate tax entities returning income of $100m or more.
It has reminded readers that it is not possible to make a meaningful comparison between the tax behaviour of various entities based solely on the information published. For example, no tax paid may not mean tax avoidance Corporate Tax Transparency Report

Most foreign firms owning London property are registered in tax havens- report 

PAC raises “serious concerns” about HMRC's digital plans

LOOKING AT SILICON VALLEY GIANTS’ H1B SALARIES. “The tool allows you to browse salaries by company, job, and city—for some companies, as far back as 2011.”

Brandis chat on Bell case 'unusual': ATO

Apparent tax arrangements of top soccer players released  

Shell Companies: Weak UK regulation lets opaque companies persist  

Man Guilty Of Tax Evasion Over Fake Church Could Face 25 Years 

Money-laundering networks thrive amid India's cash-ban chaos  

UK Government's corporate reforms will do nothing to check fat cats or stop abuse  

The importance of modelling for tax discussions: show me the numbers! 

Panama Papers: Europol links 3500 names to suspected criminals  

Secret owners of 'zero-tax offshore companies' who file no accounts

Panama Papers have had historic global effects — and the impacts keep coming

Journalists hang tough in face of backlash against Panama Papers reporting

Jack Townsend, Two Swiss Bankers Come to U.S. to Face Charges Filed in 2012
When a wealthy businessman set out to divorce his wife, their fortune vanished. The quest to find it would reveal the depths of an offshore financial system bigger than the U.S. economy How to Hide $400 Million

News from the Profession. Deloitte’s Brazil Firm Covered Up a Couple of Bad Audits (Caleb Newquist, Going Concern).

For the final time, the IRS has released its annual analysis of the richest 400 American taxpayers (The 400 Individual Income Tax Returns Reporting the Largest Adjusted Gross Incomes Each Year, 1992–2014)

End the Corporate Shell Games  

The  man who invented Libor

The UK government and the Crown Dependencies conniving to make sure loopholes are available to tax cheats 

China introduces 10% extra tax on 'super cars

Stuart Gibson, It’s a Crime (Tax Analysts Blog):

OK – I admit it. I hold a bias in favor of law enforcement, particularly when it comes to taxes. Thirty years of litigating civil tax cases for the U.S. Department of Justice, and seeing the myriad ways that taxpayers use to avoid paying what they owe, will do that to a person. While abuse of the tax laws cuts across most income levels and demographics, I found that the wealthiest people often came up with the most “creative” explanations for why they didn’t follow the tax laws. 
And President-elect Donald Trump is no exception. His private foundation just admitted what the press has been reporting for months: that in 2015 it engaged in what the tax code calls “prohibited transactions” and what the rest of us call self-dealing. More importantly, Trump’s foundation admitted that it had engaged in self-dealing in years before 2015…
No big deal, right?
Wrong. You see, the foundation filed tax returns for earlier years in which it claimed that it had not engaged in self-dealing. The people who signed those returns for the foundation did so under penalty of perjury. And knowingly signing a materially false tax return is a felony that is punishable by a prison sentence and a hefty fine.

Australia to probe energy taxes after revenue drop 

Secret owners of 'zero-tax offshore companies' who file no accounts

UK House of Commons Work and Pensions Committee Report: Concentrix

***Panama Papers: Europol links 3500 names to suspected criminals  

HMRC - House of Commons Committee of Public Accounts Report:  HM Revenue & Customs performance in 2015–16 

The IRS Statistics of Income Division has released the Fall 2016 Statistics of Income Bulletin (Vol. 36, No. 2), with these articles:
Gavin Ekins, Tax Revenues Reach New High Across OECD (Tax Policy Blog). “The increased tax revenue was driven by an increase in income tax collected in the largest OECD economies.”