7th February 2019
An amnesty designed to encourage the return of capital to Russia by allowing citizens living abroad to return to the country without facing tax or other penalties could be extended by a year, Russian President Vladimir Putin said on Wednesday. Speaking at a business forum in Moscow, Putin also… Read More
7th February 2019
AP — A judge should compel Airbnb to hand over 10 years of receipts and other documents from its hosts to the state of Hawaii in part because the home-sharing platform has acknowledged that the hosts aren’t fully complying with state tax laws, a court filing… Read More
7th February 2019
Germany’s banking watchdog BaFin conducted 70 inspections at financial firms in 2018 regarding compliance with anti-money laundering (AML) and counter financing of terrorism (CFT) provisions. Such inspections tend to focus on ‘key areas’ and are conducted on the basis of current events or the particular features of an institution. Read More
7th February 2019
Former Real Madrid manager Jose Mourinho has accepted a one-year prison sentence for defrauding the Spanish state of 3.3 million euros (2.8 million pounds), a Spanish court filing showed on Tuesday, although the Portuguese will not serve any jail time. The filing said the tax ministry and Mourinho’s defence team… Read More
6th February 2019
AP — Iran says European nations have not responded to its offers to sell them crude oil despite having U.S. waivers. The semi-official Fars news agency on Tuesday quoted Oil Minister Bijan Zanganeh as saying “we have called them many times, but they do not return… Read More
6th February 2019
The Cayman Islands has been added onto the Netherlands new low-tax jurisdictions list, dubbed blacklist, of 21 jurisdictions considered to be tax havens, as Amsterdam looks to roll out new measures to combat tax avoidance. Companies registered in the jurisdictions on the list face paying 20.5% tax from 2021 on… Read More
6th February 2019
Metro Bank said on Monday some customers had been hit by a fraud which targets a weakness in telecom companies’ text messaging systems used to verify bank transactions, and the bank said it was a wider attack on British banks. “Of those customers impacted by this type of fraud, an… Read More
6th February 2019
Scandal-hit Danske Bank is looking to invest up to DKK 2 billion (about $306 million) on its financial crime prevention efforts following headline-hitting allegations that it may have been used to launder €200 billion. The bank’s troubles are centred around the non-resident portfolio at its Estonian branch, where it said… Read More
6th February 2019
The U.S. Office of Foreign Assets Control (OFAC) recently removed three companies from its Specially Designated Nationals (SDN) List, where they had been each designated under two Executive Orders as part of OFAC’s Ukraine-/Russia-related program. The delisting process for these firms, which was elongated due to the Congressional oversight… Read More
5th February 2019
An accountant alleged to have committed financial crime offences related to the Panama Papers has appeared in court, according to the International Consortium of Investigative Journalists (ICIJ), which published details of the scandal when it first broke. Richard Gaffey pleaded ‘not guilty’ before the District Court for the Southern District… Read More