The ATO has won a landmark case at least six years after it began cracking down on a massive tax scam in the gold...
Tribunal gave for upholding the Australian Taxation Office position in gold refining but the ATO first advised that it was...
He said Paul was asked to find people to act as “sham” directors on a network of “bot” companies where the tax...
The "Machiavellian schemes," as one judge described them, saw the ATO deprived of $135 million in tax while Dickson...
Why is the Australian Defence Force striking deals with a Russian military contractor whose associations stretch from Cyprus to the Seychelles? The ADF and Defence Minister Melissa Price have batted away questions about Australian taxpayers’ money being laundered through tax havens. Earlier this month, Michael West Media revealed the story of Operation Slippery which arose from the global data leak #29Leaks. Kim Princedigs deeper into the money trail as the call for answers grows louder.
Yellow Brick Road takes wealth off-ramp with Sequoia tie-up
Yellow Brick Road is selling its wealth business to rival Sequoia Group in a $2.5m deal boss Mark Bouris says was driven by a lack of scale and increasing regulation.
Thanks to franking credits, the $52 billion in tax paid by Australia’s largest corporations is not actually received by the Tax Office.
Wall Street Journal, College Dropout Made Name As Tax Maven:
“To make a move solely for tax purposes is silly, but to ignore taxes when investing is equally as foolhardy,” he told The Wall Street Journal a year ago. He was quoted in the Journal more than 100 times in the past 35 years, most recently in November.
Mr. Gordon, who was founder and president of New York-based Twenty-First Securities Corp. and whose bedtime reading included the tax code, died Dec. 14 at home in Manhattan. He was 66 and had been under treatment for lung cancer.
I argued for years that we needed country-by-country reporting. We did. We still do. And so far we have not got it. The only public
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Anyone who reads ITEP’s corporate study will find detailed explanations of how Congress must change the law to ensure that corporations pay. Alright, we get it, the study is a little long. For your convenience, we also provided a two-page executive summary, and you will find that the recommendations on the second page all involve Congress changing those very laws that corporations use to avoid taxes.
Israel Klein (Ariel University), Contemptuous Tax Reporting, 2019 Wis. L. Rev. ___:
The use of self-reporting and self-assessment principles in the collection of corporate income tax means that companies are not subject to administrative tax assessment and ex-ante examination of tax positions taken, but rather to infrequent ex-post examination of tax returns submitted by their managers. Thus, while acting as the government’s agents for the purpose of assessing corporate taxes, managers can engage in contemptuous self-reporting that involves knowingly reporting tax positions that do not conform to the tax code and prevailing tax doctrines.
According to estimates provided by Congress, US companies will enjoy more than 25 billion dollars of R&D incentives in 2019 & 2020. The majority thereof will come from self-reported R&D credits claimed on companies’ tax returns. While being one of the most expensive tax expenditures claimed by corporations in the federal budget, this article argues that R&D tax incentives provide a prominent example of contemptuous tax reporting in which managers knowingly take positions that contradict prevailing tax doctrines.
This article presents a novel conceptualization of contemptuous tax reporting along with empirical findings that point to the tremendous loss of tax revenues resulting from such abusive tax behavior by S&P 500 companies.
Wall Street Journal, The Beginning of the End of Tax Secrecy:
While President Trump has battled to keep his tax returns private, global companies are deciding to go public with the taxes they pay—or don’t pay—before they are forced.
This week, Royal Dutch Shell voluntarily published its revenue, profit, taxes and other business details in each of 98 countries. The disclosure aligns with a drive by the energy company, which often attracts criticism from environmental activists, to present itself as forward-thinking, transparent and socially-minded.
