Bermuda on Tuesday took steps toward adopting a corporate income tax as part of a move alongside nearly 140 other countries to overhaul tax regimes to deter large multinational companies from booking profits in the lowest-tax nations. The Bermudan government …
The European Union is set to add the Bahamas to its blacklist of governments its considers uncooperative in tax matters because it says the archipelago continues to facilitate the operation of offshore firms for purposes of tax evasion. The bloc …
FRANKFURT, Germany (AP) – More than 130 countries have forged a deal on sweeping changes in how big global companies are taxed. The goal: deterring multinational companies from stashing profits in countries where they pay little or no taxes – …
Bermuda’s Premier David Burt on Tuesday called the European Union’s decision to put the British overseas territory on a list of global tax havens “a setback” but said he was confident it would soon be reversed. “The news from Brussels …
Many U.S. multinational corporations have packed up or are choosing to open subsidiaries in low-tax, rather than no-tax, countries that are seen as more legitimate than the formerly popular island destinations of the Cayman Islands and the Bahamas. They’re fleeing …
Mossack Fonseca, the Panamanian law firm at the center of the “Panama Papers” scandal, said on Wednesday it was shutting down due to the economic and reputational damage inflicted by its role in the global tax evasion debacle. The so-called …
European Union states will on Tuesday bring forward a discussion on plans for a tax havens’ blacklists after newly leaked documents revealed investments by wealthy individuals and institutions around the globe, officials said. The subject’s inclusion on the monthly meeting’s …
Chinese banks must rate their clients’ risk of criminal conduct on a scale of 1-5 as part of the central bank’s moves to curb money laundering and fraudulent transactions estimated at hundreds of billions of dollars a year. The new …
