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  • September 23, 2014
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  1. Business - Companies

    Li Ka-shing's British power firm UKPN under fire over alleged tax avoidance

    Posted Dec 29th 2013, 11:03pm by Peter Simpson

    ... believe the use of those loopholes goes beyond tax avoidance and becomes tax evasion.” UKPN emerged after a consortium headed by Li agreed in 2010 to buy the British networks of French power group ... Li Ka-shing has come under fire amid allegations the company, at the centre of a storm over Christmas power blackouts, avoided paying millions of pounds in taxes. UK Power Networks (UKPN) ...

  2. Business - Banking & Finance - FINANCE

    Beijing to back United States over new Fatca law against tax evasion

    Posted Jun 27th 2014, 11:50pm by Toh Han Shih

    ... to back U.S. over tax evasion Mainland China has been included on a list of jurisdictions co-operating with the United States on a new law to halt tax evasion. It removes the threat ... Chinese taxpayers in the US, which will help in its fight against tax evasion and corruption. "It is important, as China was seen as the last major outlier in reaching an IGA ...

  3. Fight against tax evasion leaves few places to hide

    Posted Oct 19th 2003, 12:00am by David Evans

    ... line between legal tax avoidance and illegal tax evasion but, as a former British chancellor once put it, 'the difference between tax avoidance and tax evasion is the thickness of a prison ... of noncompliant taxpayers with incomes above US$100,000 avoid penalty. Mr Rennell says minimising the amount of tax or pay is legitimate but outright tax evasion is not. He believes it is only a matter ...

  4. Glencore denies tax evasion over mine in Zambia

    Posted May 13th 2011, 12:00am

    ... filed a complaint to the Organisation for Economic Co-operation and Development accusing Glencore of tax evasion in the poor African country between 2003 and 2008. But chief executive Ivan ... to avoid tax. Their report, based on an audit international accounting firm Grant Thornton prepared for the Zambian government, alleged there was an unexplained US$380 million increase in operating ...

  5. Hong Kong saved from tax-haven tag in final communique

    Posted Apr 04th 2009, 12:00am by Enoch Yiu

    ... to crack down on tax evasion- a move already announced in this year's budget. Hong Kong's tax rules fell under the international spotlight on Thursday amid moves that threatened to see ... welcomed the decision not to include Hong Kong on any tax haven blacklist. She said Hong Kong had introduced 'effective measures' against tax evasion, and it had a simple, transparent ...

  6. Tax cheating vs avoiding- the difference is jail

    Posted Oct 25th 2009, 12:00am by Staff Reporter

    ... Howard Bilton Chairman of The Sovereign Group Denis Healey, former British finance minister, once remarked that, 'the difference between tax evasion and tax avoidance is the thickness ... That principle still holds good. Evasion is avoiding tax illegally. Normally this is achieved by incorrectly filling out your tax return or misrepresenting what you have done to gain a tax advantage. Put ...

  7. Lecturer admits tax evasion

    Posted Aug 01st 2007, 12:00am by Staff Reporter

    ... Yvonne Tsui A former deputy director of the Hong Kong Management Association and an associate of former first lady Betty Tung Chiu Hung-ping admitted yesterday that he had avoided more than HK$201,000 in taxes by understating his income by HK$1.3 million. Lau Tai-fai, 58, pleaded guilty in the District Court to six charges of tax evasion between 1997 and 2002, during which he ...


    Revealed: The worldwide network of sham directors

    Posted Nov 27th 2012, 12:00am by The Guardian

    ... and the Washington-based International Consortium of Investigative Journalists (ICIJ) has uncovered a booming offshore industry that leaves the way open for both tax avoidance and the concealment of assets. More ... tax. The agent, James Turner, of Turner Little in York, offers nominee directors in Belize and says: "They won't even know that they were a director, they just get paid." ...

  9. Expensive habit

    Posted May 21st 2004, 12:00am by B.J. Lee

    ... business-related corruption, entertainment has been growing steadily, and is often used as a front for tax evasion and shady deals. Lavish meals and drinks, and expensive rounds of golf are particularly ... tax office requires companies to submit detailed information about entertainment costing more than 500,000 won (HK$3,300). Companies have to reveal the identity of the people being entertained ...

  10. Business - Banking & Finance

    US fight against tax cheats wins wide support

    Posted Jun 04th 2014, 05:08am by AFP

    ... against tax evasion, US officials say. That many institutions in nearly 70 countries have registered to work under the rules of the Foreign Account Tax Compliance Act (Fatca), which ... and this success will help us in our goal of stopping tax evasion and narrowing the tax gap," said Robert Stack, the Treasury's deputy assistant secretary for international tax affairs. Looking ...




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