HSBC said in a statement Thursday that French magistrates ordered a formal criminal investigation (“mise en examen”) into HSBC’s Swiss Private Bank for alleged tax-related offenses. The statement said bail of €1 billion ($1.075 billion) was imposed. “HSBC Holdings plc believes the French magistrates’ decision is without legal basis and the bail is unwarranted and […]

A major Swiss bank will pay $211 million in a deal to avoid prosecution on charges it secretly helped American clients evade U.S. taxes, the Department of Justice said Monday. The agreement with BSI SA makes the private bank the first to come clean under a federal program that encourages overseas banks to disclose their […]

Tax Avoidance Or Tax Evasion? There Is A Difference According to a recent poll, voters in the United Kingdom don’t see a distinction between tax avoidance and tax evasion, at least not a moral one. According to a YouGov survey, 59 percent considered avoidance “unacceptable,” while only 32 percent thought it was legitimate. The pollsters […]

Italy’s internal revenue service may levy taxes on the illegal earnings of over a dozen suspects in the multi-million-euro MOSE corruption case, sources said Tuesday. Prosecutors are looking at allegations that 25 million euros in taxpayer money was funneled into political campaigns and away from MOSE, a 5.5-billion-euro system of retractable dikes set to become […]

Documents detail customers who faced allegations including drug-running, corruption, doping and money laundering Read More http://bit.ly/16Z12Uc

HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files. The files – obtained through an international collaboration of news outlets, including […]

Some of the folks down at the IRS may have been ‘confused‘ about how to apply the tax exempt organization rules, especially those rogue employees in Cincinnati. But the IRS isn’t confused at all about the power of FATCA, the Foreign Account Tax Compliance Act. It is America’s global tax reporting law. Never before has […]

The Latin American country’s government accused Procter & Gamble of tax evasion. Argentine authorities this Sunday accused Procter & Gamble of tax fraud and suspended its operations in the country. The government of the South American country suspended domestic operations for the transnational company Procter & Gamble for fiscal fraud and capital flight in import […]