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Results 1 - 10 of 279 for tax avoidance and tax evasion

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  1. Business - Banking & Finance - BANKING

    US whistle-blower Bradley Birkenfeld gets US$104m in UBS tax evasion case

    Posted Sep 13th 2012, 12:00am by BLOOM

    ... Bloomberg Whistle-blower jailed after revealing tax evasion wins biggest ever federal payout US$104m for banker who lifted lid on UBS Bradley Birkenfeld, the former UBS banker who went ... it fostered tax evasion from 2000 to 2007 and turn over data on 250 Swiss accounts. UBS later agreed to provide information on another 4,450 accounts. Since then, at least 33,000 Americans have ...

  2. Bad form

    Posted Apr 26th 2012, 12:00am

    ... down on offshore tax evasion. The new form requires US citizens working overseas to share all bank account details, including income earned from the accounts, as part of their tax return. More ... banking giant UBS, which was fined US$780million in 2009 for helping thousands of Americans evade taxes. Offshore tax evasion is not to be taken lightly, but the majority of Americans working ...

  3. When evasion methods are legal but morals debatable

    Posted Dec 20th 2009, 12:00am by Staff Reporter

    ... Howard Bilton There have been media reports of late on how US prosecutors are trying to determine what role financial professionals in Hong Kong play in evasion of US taxes and how the US ... There are perfectly legitimate structures that allow tax to be deferred, avoided or mitigated. Yes, they are more complicated and yes, they are more expensive but they are legal and compliant, so ...

  4. Tax law may cost HK firms US$100m

    Posted Feb 16th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com A US law against tax evasion is likely to cost each financial institution in Hong Kong and on the mainland as much as US$100 million in compliance costs when ... by Americans, so that the IRS can check for tax evasions. If non-US institutions choose to comply with FATCA, they will have to sign a contract with the US government next year. Stephen Cheung, a PwC ...

  5. Privacy comes first for region's wary dynasties

    Posted Apr 22nd 2012, 12:00am

    ... Liana Cafolla Hong Kong's family offices differ from those in the mature markets of Europe and the United States on several counts- including structure, family priorities and outsourcing. UBS/Campden Research shows that 81 per cent of Asia's fam ...

  6. News - World - BRIEFS

    Briefs, February 17, 2013

    Posted Feb 17th 2013, 12:00am by AGENCIES

    ... the coroner said. Reuters   US tax dodger diverted funds to HK account WASHINGTON- Bae Soo "Chris" Chon, 49, who owned US company Mirage Cosmetics, was sentenced to a year and a day in prison for evading US$522,650 in US federal and state taxes after admitting tax evasion by diverting proceeds from foreign distributors to accounts in Hong Kong and South Korea. In the autumn ...

  7. How the case unfolded

    Posted Apr 14th 2010, 12:00am by Staff Reporter

    ... January 28, 2003 Steven Cheung Ng-sheong and his wife indicted in Seattle on charges of tax evasion and conspiracy to defraud US government. Ordered to appear in court on February 20. Indictment alleges that the couple own 11 companies, including West Coast International and Celinal, but hid stakes in bid to avoid US taxes. February 17 Cheungs issue statement saying ...

  8. GST a sure path to bureaucracy and tax dodging

    Posted Jul 20th 2006, 12:00am by Staff Reporter

    ... a different place. More than any other form of taxation, a GST tends to spawn a tax- avoidance industry all of its own. Lawyers, accountants and others get diverted from productive activity and take to thinking up clever ways for their clients to get around the tax. Governments are forced to respond by hiring additional civil servants and professionals to counter the tax avoiders through ...

  9. US probe of HSBC India 'a warning to HK'

    Posted Apr 24th 2011, 12:00am

    ... John Carney A move by US tax officials to target 'secret' HSBC bank accounts in India should be seen as a warning shot across the bows of all Hong Kong banks, a tax expert warns. Two weeks ago the US Department of Justice accused HSBC staff of telling US clients of Indian origin that they would not have to pay US tax on so-called Non-Resident Indian (NRI) accounts ...

  10. Quit whining about the yuan. There is a far simpler solution

    Posted Feb 08th 2011, 12:00am by Tom Holland

    ... They could introduce a value-added tax (VAT). Levying a new tax might sound like an unlikely way to boost net exports, but it makes sense. Unlike most other countries, and all of America's main ... there is no tax difference between imported and domestically produced goods. But the US has no VAT, with US companies and consumers paying their dues through other taxes. This produces a major distortion. ...




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