3rd January 2019
New rules designed to combat corporate tax avoidance in the European Union have kicked in. As of 1 January 2019, all member states shall apply new legally binding anti-abuse measures which will see authorities tax profits moved to low-tax countries where the company does not have any genuine economic activity… Read More
3rd January 2019
The much-anticipated Financial Action Task Force (FATF) mutual evaluation of the United Kingdom’s anti-money laundering and counter terror financing regime is out, and with it has come much praise from UK government officials, not least HM Treasury Minister John Glen, who said: “The report recognises that the UK’s AML/CTF regime… Read More
3rd January 2019
Brazilian construction conglomerate Odebrecht SA [ODBES.UL] has agreed to pay 161.9 million reais (£32.8 million) to Centrais Eletricas Brasileiras SA (ELET6.SA) in a deal with authorities to help settle corruption allegations against it, according to a securities filing on Wednesday. Eletrobras, as the state-run power holding company is known,… Read More
2nd January 2019
North Korean leader Kim Jong Un said on Tuesday he is ready to meet U.S. President Donald Trump again anytime to achieve their common goal of denuclearizing the Korean Peninsula, but warned he may have to take an alternative path if U.S. sanctions and pressure against the country continued. In… Read More
2nd January 2019
Wells Fargo has agreed to pay $575 million to 50 states and the District of Columbia over its fake bank accounts scandal and harmful mortgage charges. The bank will also implement a consumer redress review program, where customers who have not been made whole through other restitution programs can… Read More
2nd January 2019
The Financial Conduct Authority (FCA) is to unveil an overhaul of the treatment of whistleblowers in the UK’s financial services sector, according to media reports. The plans, which are expected to be unveiled in the new year, will likely focus on issues such as how it maintains whistleblower confidentiality… Read More
1st January 2019
The French government is cracking down on business chiefs of companies listed in France to make sure they are paying their taxes in France, Budget Minister Gerald Darmanin said in a newspaper interview on Sunday. President Emmanuel Macron had already signalled a hardening stance on corporate tax affairs in a… Read More
1st January 2019
India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle… Read More
1st January 2019
Ole Miss to return most of $400,000 given by Ponzi convict AP — The University of Mississippi has agreed to return most of the $400,000 its athletic foundation was given by a businessman who pleaded guilty to a $100 million Ponzi scheme. The Clarion-Ledger reports that the federal… Read More
1st January 2019
AP — Tesla named two independent board members Friday as part of a settlement with U.S. regulators who demanded more oversight of CEO Elon Musk. Oracle co-founder Larry Ellison and Kathleen Wilson-Thompson, an executive vice president at Walgreens Boots Alliance, join the board as independent directors,… Read More