There is nothing in a tax haven
Large company accounts are works of fiction
In this morning’s video, I argue that the accounts of the largest companies in the UK and around the world are works of fiction because
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The accounting giant PwC has been fined £15m by the financial conduct regulator in its first-ever financial penalty on an audit firm.
One of the so-called big four accounting firms, PwC was said by the Financial Conduct Authority (FCA) to have missed a number of audit red flags and failed to act immediately to report suspected fraud at a failed financial services firm.
PwC fined £15m for not reporting suspected fraud at firm
A notorious drug kingpin set up shell companies in the British Virgin Islands and Dubai to employ alleged cartel underlings, documents show
Sarajevo-native Edin “Tito” Gacanin registered the companies in the secrecy havens as he continued to ship cocaine globally, despite being convicted by Dutch courts for narcotics trafficking.
A UK court ordered a global asset freeze for the ‘Cryptoqueen’ and her OneCoin associates
The IRS is teaming up with state tax agencies and software and financial industries firms on a new initiative to combat steep upticks in fraudulent attacks on taxpayers and tax systems.
The new Coalition Against Scam and Scheme Threats (CASST) announced by the IRS on Aug. 16 will conduct outreach and education on emerging tax scams, develop new approaches to detect fraudulent filings upfront, and implement improved protective infrastructure for Federal, state, and industry tax systems.
IRS Partnering With States, Industry to Combat Tax Fraud Surge
House Committees Release Bombshell Impeachment Inquiry Report
The Baltic states and Finland are ruled by NazisStrategic Culture
Becoming the Enemy Gordon Hahn, Russian & Eurasian Politics
Pig Butchering’ Online Scams Are Proliferating. Here’s Why They Work So Well. WSJ
Evan Gershkovich, Other Freed Hostages Hit With IRS Tax Penalties For Their Time As Russia's Hostages
One of the key findings of the study is that imposing appropriately severe penalties can deter fraudulent behavior, but only to a certain extent." says King. "Focusing on appropriate penalties even when taxpayers perceive that their peers are not complying with tax regulations, can still inspire tax compliance."
Paying fairly: Insights from new study on tax fraud prevention
The Austrian equivalent of HMRC used AI and predictive analytics to probe taxpayers’ affairs to detect tax evasion resulting in the recovery of an extra 1% of revenue.
A total of 6.5m entrepreneurs and individuals were analysed by the tax authority’s predictive analytics competence centre. This meant that the majority of Austria’s taxpayer community of 7.3m companies and individuals were likely caught up in the AI probes.
