According to the government's official foreign direct investment
statistics, Canadian businesses reduced their holdings in the top 10
tax havens from $272.4B in 2015 to $261B at the end of last year.
Foreign direct investment,
PAULO - Thousands of properties in the most expensive neighborhoods of
Sao Paulo belong to little more than 200 shell companies associated
with tax havens. The value
of these properties is around $2.7B, of which 62% are business units
and 29% are residential properties.
Secret is out
Global tax evasion investigation
is at the centre of an international tax evasion investigation into
55,000 suspect bank accounts, which has involved the seizure of assets
as part of coordinated action by authorities in Britain, the
Netherlands, Germany, France and Australia.
Honest tax system
PARIS - Jerome Cahuzac, the minister who led
Francois Hollande's drive for a more honest tax system, has been
sentenced to 3 years in prison for tax fraud and secretly stashing his
wealth in tax havens around the world.
Jerome Cahuzac affair
Tax breaks cost billions
OTTAWA - The research paper released by the
Canadian Centre for Policy Alternatives (CCPA)
says breaks on personal income taxes in Canada cost almost as much as
the government collects from those taxes, and they disproportionately
benefit the rich.
Out of the
RESP for higher income families
An internal evaluation of the
Canada Education Savings Program, which pours more than $800M in
grants each year into the education-savings accounts of Canadian
families, concludes that it is skewed toward the well-off.
Global money laundering hub
SHANGHAI - China is emerging as a global hub for money laundering,
not just for Chinese but for criminals around the world.
Scammed for $3M
US biggest foreign investor
- The biggest holder of US equities as the Cayman Islands which
holds $628B worth of US equities despite having a GDP of less than
$4B. (Value Walk)
US trends in family wealth
RIO DE JANEIRO - Brazilian billionaire
the world's wealthiest banker, is suspected of paying $4.25M in
bribes to tax authorities in exchange for their waiving some $415M
in tax debt. (EFE)
WASHINGTON - Tennessee Senator
has reportedly failed to disclose millions of dollars in income from
various investments since taking office in 2007.
Corker is the third-ranking Republican serving on the
US Senate Committee on Banking, Housing, and Urban Affairs.
The committee oversees the real-estate and financial-services
Operation Choke Point is illegal
WASHINGTON - The Justice Department's
'Operation Choke Point' is so flagrantly illegal it cannot continue
in any form under the law. (Breitbart)
Operation Choke Point
Pitchforks are coming
money for nothing
Is the Fed unconstitutional?
Corporate tax havens
Canadian corporations held $71B in assets in
Barbados. They had another $36B in the
Cayman Islands. According
estimate from CTF
the amount of money Canadian corporations held in the world's top 10
tax havens jumped to $199B in 2014, from $187B a year earlier.
Inside the world's tax havens
DoJ probe bank for money laundering
NEW YORK -
US federal prosecutors are investigating billions of dollars of
Deutsche Bank AG made on behalf of Russian clients as recently as
this year. The Justice
Department's criminal probe focuses on so-called
By virtue of their great wealth, and a co-operative tax system,
they'll be able to direct billions of dollars - a significant
portion of which might otherwise have gone into the tax pool and
been spent collectively - on the causes and solutions they favour,
with little oversight.
20 billionaires worth as much as half of America
Tax avoidance claims
World economic table
Britain has overtaken France to become the world's fifth largest
economy, new analysis shows.
The Centre for Economics and Business Research (CEBR)
said Britain's acceleration was also boosted by the inclusion of sex
and drugs to UK growth. (Telegraph
homes 'safe deposit boxes' for foreign buyers
economy in 2015
Hunt for 'black money'
DELHI - The Central Bureau of
Investigation said in 2012 that $500B was held by Indians in tax
India has a flourishing 'black
money' economy that functions parallel to the legal economy.
Undeclared income is used to fund election campaigns and buy land or
real estate in order to avoid paying property taxes.
Indian black money
One of the
world's most corrupt militaries
Corruption in India
Law to keep cops from stealing
LOS ANGLES - Legislators are trying to
make it harder for law enforcement officials to seize money and
property from people who have not been charged with a crime.
LONDON - By channelling finance and profits through
tax-haven subsidiaries, telecoms giant
is alleged to have avoided paying the British government billions of
pounds in tax. (BIJ) MORE:
exposes Swiss branches
OTTAWA - Canadians who tip off
the revenue agency on major international tax evasion cases could be
rewarded with 15% of the recovered money, Finance Minister Jim
Flaherty announced in the federal budget. (CTV) MORE:
Tax: Supplementary information
CTV Budget 2013 Dirty little job-training secret
US latest 'finger in the dyke' move
WASHINGTON - The Obama administration
cracked down on certain overseas corporate mergers and acquisitions,
aiming to curb American companies from shifting their ownership
abroad to shirk paying US taxes.
Tim Hortons says new US rules won't stop sale
Corporate tax in the US Not
a tax dodge
ATF report .pdf
New age of crony capitalism
'Rent-seeking' is what economists call a special type of
money-making: the sort made possible by political connections.
In the emerging world, the past quarter-century has been
great for rent-seekers.
Aristocracy of pull
Export-Import Bank of the US
Tax haven profits
The Eurozone's 20 biggest
banks earned over a quarter of their profits in tax havens in 2015,
according to a report released by
The report details how, in 2015, top Eurozone banks
generated $27B in profits in low-tax territories like the Republic
of Ireland, Luxembourg, the Cayman Islands and the US state of
Delaware. Despite the
massive profits, the banks only conducted 12% of their total
business and employed 7% of their workers in those countries.
SZ - Panama papers
ICIJ - Panama Papers
Wikipedia - Panama Papers
Toronto Star - Panama papers
Law firm's heads arrested
Law firm data leak
The scandal behind the Panama Papers
More aggressive CRA
Taking on the tax havens
Overcoming the shadow economy
Bahamas data leak
Insider tax evasion
Guilty of tax evasion
Ireland must recover up to
$14.6B in unpaid taxes from Apple, European officials said on Tuesday.
European Commission, which administers EU law, said the Irish
government had granted illegal state aid to Apple by helping the tech
giant to artificially lower its tax bill for more than 20 years.
Apple paid tax at 1%, or less, on profits attributed to its
subsidiaries in Ireland, well below the 35% top rate of corporate tax in
the US and Ireland's 12.5% rate.
Why Ireland doesn't want the taxes
G20 backs plan to stop global tax avoidance
Global tax chaos
Federal reserve cartel
Corporations tax savings
Corporations stockpile tops $500B
Corporate tax avoidance
G20 officials defuse currency war
around the world
Tax rate picks winners and losers
Tax clampdown will harm profits
Corporate tax avoidance
Base erosion and profit shifting
Game of corporate tax avoidance
tax system for curbing avoidance
rewrite the corporate tax rule book
releases plan to curb corporate tax-dodging
Now it's up
to the Nations
Value of complexity
CEO defends tax tactics
Addressing base erosion and profit shifting
Vulnerable to currency war
Institute for Policy Studies
CEOs paid more than paid
Crack down on evasion