Featured Tax Evasion

Ex-Swiss banker convicted for selling secret tax data to Germany

A former UBS (UBSG.S) banker accused of selling information about wealthy German tax evaders to German authorities was convicted of economic espionage by a Swiss court on Monday. Rene S., as the 45-year-old ex-banker was called during court proceedings, was sentenced to 40 months in prison and must pay fines… Read More

UK: HMRC announces Top 10 prosecutions of 2018

The United Kingdom’s tax authority HM Revenue and Customs (HMRC) has published a list of its top cases of 2018, which features money launderers, smugglers and a globe-trotting tax fugitive. HMRC said its fraud investigations have led to 671 individuals being convicted in over the last 12 months for their… Read More

Old money: Belgium fines 92-year-old fraudster

A 92-year-old woman who defrauded the Belgian tax authorities of millions of euros over many decades was spared jail on Wednesday but must pay over 4 million euros in fines and back taxes. Branded by prosecutors as “maniacal” about managing her money, the woman named only as Betty W., won… Read More
14th January 2019
The United Kingdom has announced the new appointment of Bill Dodwell as Tax Director of the Office of Tax Simplification (OTS). As part of his portfolio, Dodwell will provide’ expert advice, guidance and direction’ to the OTS and its Board as a Non-Executive Member, the Treasury department said. OTS… Read More
9th January 2019
A North London man who falsely claimed his business was a small pottery unit when it was in fact a profitable cash-generating Chinese restaurant has been jailed. The businessman owned outlets in North Greenwich and at Gun Wharf Quays shopping centre in Portsmouth, Hampshire. He failed to declare cash… Read More
7th January 2019
There are “lots of indications” that some managers discussed “the reputational risks” of Deutsche Bank’s involvement in a share-trading scheme that is the subject of Germany’s biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. The bank issued tax certificates for withholding… Read More
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
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
28th December 2018
AP — Aretha Franklin’s estate has paid at least $3 million in back taxes to the IRS since her death in August, an attorney for the late Queen of Soul’s estate said Thursday. The estate is being audited by the IRS, which filed a claim this… Read More
17th December 2018
AP — Spanish prosecutors have charged pop music star Shakira with tax evasion, alleging she failed to pay more than 14.5 million euros ($16.3 million) between 2012 and 2014. The Colombian singer denied the charges. The charges published Friday allege that Shakira listed the Bahamas as her official residence for… Read More
14th December 2018
The European Commission has put together a proposal aimed at tackling tax fraud, which entails improved co-operation between tax authorities and credit cards firms, as well as other e-money companies. The proposed rules establish quarterly information-sharing obligations for providers, which will allow member state anti-fraud specialists (the ‘Eurofisc’ network) to… Read More
7th December 2018
KYC360 will be presenting an informative webinar discussing the US senate’s probes into financial crime, including issues pertaining to money laundering and tax evasion, as detailed in a new book by Elise J. Bean. Date: 11 December 2018 Time: 2PM UK Time Topic: The Inside Track – The US… Read More
7th December 2018
AP — Cuba’s government has modified a series of measures unpopular with the country’s private sector, including lifting restrictions on the number of business permits a person can have and the number of chairs there can be in restaurants, a top official said Wednesday. In July,… Read More