Tax

Deal between Caterpillar and Swiss tax authorities allowed company to pay four percent rates, committee hears

Caterpillar questioned by US Senate over $2.4bn unpaid taxes

Deal between Caterpillar and Swiss tax authorities allowed company to pay four percent rates, committee hears

Caterpillar was forced to defend itself before a US Senate hearing in which it was accused of offshore tax evasion. During the panel hearing, it was revealed that a low-tax affiliate unit set up by the company in Switzerland years ago had been unchallenge...

Many have called into question the extent to which cryptocurrencies like Bitcoin are escaping tax liabilities, but until a regulatory framework is decided upon, the issue will remain unchecked

Cryptic crypto: is Bitcoin escaping tax liabilities?

Many have called into question the extent to which cryptocurrencies like Bitcoin are escaping tax liabilities, but until a regulatory framework is decided upon, the issue will remain unchecked

“If you mow your neighbour’s lawn, it doesn’t matter if he pays you $20 in cash or $20 worth of Bitcoins (or $20 worth of tomatoes for that matter), you are still legally required to report that as income. When using Bitcoin for payment, the taxing ...

While the country has strong economic growth prospects, Argentine's tax regulations means nearly half of its GDP is sidelined

Argentine tax regulations are crippling competitiveness, says Grupo GNP

While the country has strong economic growth prospects, Argentine’s tax regulations means nearly half of its GDP is sidelined

The second largest country in Latin America and the eighth at global level, Argentina has an estimated population of around 40 million. Its developing economy is based mainly on primary exploitation and the manufacturing of natural resources, through loca...

Mexico is shaking up its tax system, by increasing corporate tax and retail sales taxes, among others. Selwyn Parker looks at the effects this might have

Mexico’s tax reforms: opportunities and obstacles

Mexico is shaking up its tax system, by increasing corporate tax and retail sales taxes, among others. Selwyn Parker looks at the effects this might have

Congregated along Mexico’s border with America are hundreds of factories known as maquiladoras, or assembly plants. Mostly foreign and in particular American-owned, they export their products under long-standing, favourable tax arrangements that have co...

Thierry Afschrift, Managing Partner of Afschrift Law Firm speaks to World Finance about the challenges of tax in Europe for HNWIs and companies

Tax in Europe: the challenges for HNWIs and companies

Thierry Afschrift, Managing Partner of Afschrift Law Firm speaks to World Finance about the challenges of tax in Europe for HNWIs and companies

Tax regulation has always been a contentious issue within the EU. Various tax regimes in different countries have forced companies to come up with creative tax plans which have left citizens vulnerable to excessive taxation. And as austerity measures end...

Creating leverage in the Brazilian tax system

Brazil’s tax system can seem overly complicated – but with the right advice, there are enormous savings to be made

Running a company in Brazil is a challenge that comprises a wide range of different aspects, from cultural diversity to logistical trials, if we consider the country continental in extent. There are some other quite interesting challenges – among them i...

Driving the change: Cyprus pushes for economic growth

Despite the financial crisis, investors are publicly showing confidence in Cyprus through their commitment to keeping operations on the island

For decades, Cyprus has been successful in attracting investors, and now that the country is going through tough economic reforms, both the need and opportunities for foreign investment are increasing. In its efforts to build a stronger future for Cyprus,...

With the tax environment in the US - and Germany specifically - in flux, corporations need to be equipped for changes ahead

Tax in Europe: what corporations need to know

With the tax environment in the US – and Germany specifically – in flux, corporations need to be equipped for changes ahead

Alexander Hemmelrath has unparalleled experience in tax advice in Germany. With 30 years of experience in international tax law as a tax practitioner and a university professor, Hemmelrath has observed a changing tax environment in Europe. He has now brou...

Estate tax nuances explained

First introduced in 2010, portability is now a permanent fixture in the estate planning world, and as Paul Tromp, Senior Financial Planner at BMO Private Bank, discusses, it has ties to a significant number of sectors

Portability was first introduced in 2010 and is now a permanent fixture in the estate planning world as a result of the American Taxpayer Relief Act (ATRA) of 2012 that took effect in January. It allows married couples to “carry over” any unused feder...

Since 1980, African governments may have lost over $1trn in net resource outflows due to illicit activities. Martin Morris explains the part Western firms have played

Criminal outflows

Since 1980, African governments may have lost over $1trn in net resource outflows due to illicit activities. Martin Morris explains the part Western firms have played

Those who claim the West has been pumping money into Africa – in the form of development aid and private sector financing – but received little in return are guilty of perpetuating one of the enduring falsehoods of our time. Far from being a drain on ...

FATCA: A great example of US power play

New proposals may finally limit international tax avoidance, writes Henry Campbell-Smith

Tax evasion is as old as tax and no less certain. Ever since the advent of international trade in modern times merchants and businessman have looked to move assets from one jurisdiction to another in a bid to avoid taxation on their profits. Various conce...

The Cayman Islands Financial Services Association has started a consultation to reform corporate governance practices on the islands. We investigate why its proposals have been met with equal measures of encouragement and resistance

Banker’s paradise

The Cayman Islands Financial Services Association has started a consultation to reform corporate governance practices on the islands. We investigate why its proposals have been met with equal measures of encouragement and resistance

Conveniently located in the warm waters between Cuba and Honduras, just a stone’s throw from Jamaica, are the Cayman Islands. The tiny archipelago – though only 264 square kilometres – attracts a surprising amount of publicity. But foreigners are no...

French budget minister resigns amid claims of fiscal fraud

Allegations that Socialist minister used secret Swiss bank account to avoid tax, as he headed cuts programme

France’s budget minister, Jétôme Cahuzac, has stepped down from his position as allegations of tax evasion emerged. The minister has been accused of using Swiss bank accounts to avoid paying appropriate tax. Cahuazac initially vehemently denied acc...

Bigger opportunities for ‘big data’

‘Big data’ is being hyped as a revolutionary new innovation that is set to change how businesses work. The key is getting data to work in favour of a business model, and turning knowledge into efficiency and profit

Touted by many as the next big innovation for business, many hope that so-called ‘big data’ will aid companies in predicting market trends and creating greater efficiencies in the future. KPMG has been advising clients to look toward big data to mould...

Investors look to long-term European gains

In spite of the debt crisis, international investors are increasingly looking to Europe to get value in private equity deals, writes Jules Gray

Seeking value through long-term investments is the reason private equity has attracted such healthy levels of investment over the years: but with strong returns come considerable risk. Unlisted companies are often harder to analyse and so provide investor...

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