The British government has published details of its proposed new law making senior management of a financial services firm criminally liable if any member of staff facilitates tax evasion, and has called on the industry to provide feedback.
A film scheme involving the distribution rights to two Disney films is taking HM Revenue & Customs to the UK Supreme Court to defend the £117m ($166m, €145.5m) it received in tax relief.
The British prime minister David Cameron has announced a new law which makes companies criminally liable for employees who aid tax evasion as he defended his own tax affairs from mounting criticism following the ‘Panama Papers’ leak.
HM Revenue & Customs and the UK’s National Crime Agency will work with investigators, compliance specialists, the Serious Fraud Office and the Financial Conduct Authority (FCA) to deal with the fallout of the Panama Papers.
Around 11.5 million leaked documents from a Panama-based law firm have exposed the offshore holdings of politicians, sports stars and public officials around the world.
Two Cayman Island investment and trust companies pleaded guilty in a New York federal court to helping American clients evade tax. The first conviction of its kind outside Switzerland.
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
A Belgian judge has charges Swiss bank UBS with money laundering and serious and organised tax evasion, according to media reports.
Swiss private bank Julius Baer said it has reached a deal with the US Department of Justice to pay $547m to settle tax evasion allegations, and at the same time two former Julius Baer bankers pleaded guilty to helping American clients dodge taxes.
Residents of Brazil with undeclared offshore assets can now voluntarily declare and regularise their tax affairs without facing criminal prosecution and only face a one-off charge and penalty.
A UK tax adviser and accountant has been jailed for five years after being found guilty of evading more than £6m in tax for himself and his clients, who were mostly from the media and entertainment industry.
An accountant and an independent financial adviser have been jailed in the UK following their conviction for attempting to steal millions in a tax fraud linked to the film industry.
