The Netherlands and the UK facilitate global tax avoidance by acting as conduits for 37% of corporate money heading to tax havens, research by academics at the University of Amsterdam shows.
Brazilian football star Neymar has been cleared of any criminal charges in a long-running tax evasion case in Brazil, with the judge citing a “lack of just cause”.
A former Credit Suisse banker who helped wealthy Americans dodge millions of dollars in income taxes for nearly a decade has pleaded guilty.
The Jerseyman allegedly at the centre of Australia’s biggest ever tax evasion scandal, that included Crocodile Dundee star Paul Hogan among its victims, is fighting attempts to extradite him from Italy to face charges down under.
HM Revenue & Customs’ action on tax avoidance, evasion and organised crime has brought in record additional revenues of £29bn ($37.6bn, €32.9bn) in the past fiscal year, as revealed in its latest annual report.
Recent high-profile wins against tax evaders prove that when it comes to cracking down on tax dodgers, HMRC is serious about stepping up not only its surveillance but also about finding innovative ways of catching out tax cheats. Here are some the methods the UK tax office employs.
HM Revenue and Customs has almost doubled its requests to governments elsewhere in the world for help in suspected tax evasion cases over a five-year period, according to figures obtained by law firm Pinsent Masons.
Jorge Mendes, a sports agent whose clients include Christiano Ronaldo and Fabio Coentrao, has denied helping footballers evade tax illegally by creating shell companies.
Schemes involving transactions to low tax jurisdictions such as Jersey and Guernsey will need to be reported to the European Union, under new legislation aimed at tackling tax avoidance.
Spanish club Real Madrid has called on the country’s tax authorities to reinstate the ‘Beckham law’ for foreign footballers following a string of high-profile tax fraud scandals, engulfing the biggest names in the sport.
The European Union is pushing ahead with new rules that will force financial advisers to report “aggressive” tax planning schemes which help clients avoid paying tax, as it follows in the footsteps of the UK.
Wealth managers around the world will lose around $13bn (£10bn, €11.5bn) of annual revenue due to a global crackdown on tax dodging as clients are set pull out $1.1trn out over the next few years, a new report suggests.
