Tax Avoidance

EU trying to close 'letter-box subsidiary' tax loophole

Apple has used aggressive tax planning, including making use of an Irish subsidiary, to avoid having to pay billions of dollars in taxes. Photo: Reuters

The European Commission will attempt to close a loophole that allows companies to cut their tax bill, a top official said on Monday, but the EU executive will first need to persuade member countries to back the change.

Tuesday, 26 November, 2013, 9:20am

Lawmaker accuses Google of dodging taxes

Google Vice President Matt Brittin defends the internet search giant’s tax policies. Photo: AP

An influential committee of British lawmakers accused search company Google of dodging its taxes on Thursday in a scathing report that said the US Internet company took on highly contrived arrangements serving no purpose other than to avoid paying its fair share.

14 Jun 2013 - 11:30am 1 comment

Ernst & Young to pay US$123m fine for tax avoidance

Ernst & Young has agreed to pay US$123 million in a settlement with criminal prosecutors in the US, admitting that some of its most senior tax partners had been involved in developing, marketing and defending tax schemes between 1999 and 2004 to dodge taxes worth US$2 billion faced by about 200 wealthy individuals.

5 Mar 2013 - 3:02am

Gerard Depardieu meets Vladimir Putin after receiving Russian passport

Russian President Vladimir Putin welcomes the French actor to his residence in Sochi, where they shared a meal on Saturday. Photo: AFP

Hollywood actor Gerard Depardieu, who has threatened to quit France to avoid higher taxes, received a Russian passport yesterday and an offer of residence in a central Russia region known for Stalin-era Gulag labour camps.

7 Jan 2013 - 4:41am

Revealed: The worldwide network of sham directors

Revealed: The worldwide network of sham directors

The existence of a global network of sham company directors, most of them British, was revealed yesterday by an investigation into an obscure practice that helps keep secret countless financial transactions.

27 Nov 2012 - 2:19pm

Starbucks roasted by British lawmakers over tax stance

British media reports state that US coffee giant Starbucks has paid no tax in Britain in the last three years, and has only paid £8.6 million in corporte tax over the last 14 years.

British lawmakers grilled global coffee giant Starbucks over its tax policies on Monday, arguing that claims that its British division was unprofitable “just doesn’t ring true”.

13 Nov 2012 - 5:33am

British tax authorities investigate list of HSBC accounts in Jersey

British tax authorities are investigating a list of more than 4,000 British residents who have bank accounts with HSBC Holdings.

British tax authorities are investigating a list of more than 4,000 British residents who have bank accounts with HSBC Holdings, the country's biggest lender, in the offshore tax haven of Jersey.

10 Nov 2012 - 5:26am

The Week Explained: Tax Avoidance

Mug's game: Starbucks has not paid corporate tax for the past three years. Photo: Reuters

Those of us who assumed that there was something dubious about the world's most famous purveyor of milky hot drinks (it calls itself a coffee specialist) have discovered that there is also something dubious about Starbucks' tax arrangements.

29 Oct 2012 - 2:22am


Bernard Poon President - Greater China CPA Australia

Poon is a managing director and the transaction advisory services leader for Hong Kong and Macau at Ernst & Young Transactions. He has nearly 20 years of experience working in the sector. In his new role, Poon will lead the division's members to succeed in their professional career and serve the community.

21 Jan 2012 - 12:00am

We must not tolerate these rich tax cheats

Renewed diplomatic spats over Switzerland's banking secrecy are a clear sign that the days of the alpine nation's highly lucrative, if shadowy, practice are numbered. Swiss officials and bankers should accept reality and overhaul the system.

15 Mar 2010 - 12:00am

New rules put intercompany arrangements in the spotlight

Mainland tax authorities recently launched a series of initiatives to address tax avoidance concerns, driven mainly by the question as to whether corporate taxpayers are shifting profits offshore.

24 Sep 2009 - 12:00am

Hong Kong saved from tax-haven tag in final communique

Chief Executive Donald Tsang Yam-kuen yesterday leapt to the defence of Hong Kong's tax standards, after a row over the city's compliance with global rules threatened to derail the G20 summit.

4 Apr 2009 - 12:00am

Profit warning over tax payment hits Giordano

Shares of casual wear retailer Giordano International fell as much as 4 per cent yesterday following a profit warning after the mainland authorities demanded the company pay more tax.

13 Feb 2007 - 12:00am

Charges to change with the times

RENOWNED ECONOMIST Adam Smith viewed taxation as an art learned by government to drain money from the pockets of people and business. If alive today, he would no doubt hold similar opinions and would be observing with interest the significant changes being planned by the mainland government to its methods of tax collection.

22 Jul 2006 - 12:00am

Focus on foreign tax shortfall

CORPORATE TAX accounts for about a fifth of total tax revenue in China.

But according to state-generated statistics, foreign-invested enterprises contribute little to overall tax revenues because they are either not profitable or just breaking even.

28 Apr 2006 - 12:00am