International taxes

The bank repeatedly attacked the credibility of witnesses and insisted it had no knowledge about clients evading taxes.

A prosecutor in a high-profile French tax case questioned why UBS Group AG systematically destroyed handwritten notebooks detailing the movement of French clients’ funds to surrounding lower-tax countries.

Banco Santander SA became the latest addition to a long list of banks targeted by German prosecutors over controversial tax-driven transactions known as “Cum-Ex” that may have cost the German state about 10 billion euros ($11.5 billion).

U.S. corporations have largely abandoned the contentious deals that allowed them to shift their addresses abroad for a lower tax rate. Yet a key part of the transactions is continuing quietly even after President Donald Trump’s tax overhaul.

A former Julius Baer banker who leaked documents from a Cayman Islands subsidiary was cleared of breaking Swiss banking secrecy by Switzerland’s top court, creating possible problems for how the Alpine nation’s banks manage their foreign units.

Ordinary families might stash spare cash under a mattress or in a safety deposit box. South Korea’s Lee family are so rich they spent years leaving billions of dollars under the names of their employees.

When entering a new market, there’s always the need for local knowledge.

China ordered one of its top actresses and her associated companies to pay about 884 million yuan ($129 million) in taxes and fines, capping a months-long tax evasion probe that shook the nation’s blossoming entertainment industry.

If you want to see what's coming in tax, look to Europe and South America -- Avalara's Richard Asquith offers a tour of the growing integration between businesses and tax authorities.

The institute made a number of proposals for guidance around transition tax reporting.