International taxes

The anonymous whistle-blower who leaked millions of Panamanian legal documents related to secret shell companies offered to help authorities investigate and prosecute criminal cases that might arise from them in exchange for immunity.

President Barack Obama said Congress should pass legislation to rebuild U.S. infrastructure, raise the minimum wage and crack down on money laundering and tax evasion, after his administration released a plan to make it harder for people to hide money in the U.S.

The Obama administration renewed its push Thursday to make it harder for people to hide money in the U.S., jumping on momentum created by the release of leaked Panama legal documents to pressure Congress on proposals that have been languishing for years.

When Coca-Cola Enterprises Inc. announced a merger with two overseas counterparts last August, the Atlanta-based bottler of Coke drinks in Western Europe said the deal had nothing to do with cutting its corporate tax bills.

The man who uncovered secret Luxembourg deals that helped companies slash tax rates was actually looking for training documents when he stumbled upon the files on his computer at PricewaterhouseCoopers.

Chevron Corp. used a shell company in a tax haven to escape hundreds of millions of dollars in Australian taxes, according to a 2015 court ruling. The subsidiary, which allowed Chevron to eliminate Australian taxes on $1.7 billion in profit earned there, wasn’t secreted away on a remote tropical island—it was set up in the very mundane locale where corporate secrecy was born: Delaware.

A senior Treasury Department official in charge of international tax policy is seeing a greater role being played by the Group of 20 finance ministers in setting the agenda for tax laws around the world.

Group of 20 economies threatened to penalize havens that don’t share information on their banking clients after the leak of the Panama Papers provoked a global uproar over tax evasion.

Delphi Automotive Plc said it won a long-running dispute with the Internal Revenue Service over whether the parts maker, which is run from a Detroit suburb, should be allowed to call itself British for tax purposes.

European Union regulators sought to shame big global companies into paying their full tax bill by forcing them to publish how much they divert to offshore havens.

U.K Prime Minister David Cameron defended his tax affairs to Parliament, telling lawmakers he’d been slow to respond to questions because of anger at seeing his late father’s name attached to stories about offshore evasion.

European Union regulators are looking to force corporate tax avoidance via offshore havens into the open, with fresh proposals made more urgent by the Panama Papers revelations.

Escalating a 19-month regulatory assault against U.S. companies’ shifting their tax addresses offshore, President Barack Obama’s administration last week also went after companies that have always been overseas.

U.K. Prime Minister David Cameron was accused of “hypocrisy” after he said he held a stake in an offshore fund set up by his late father until six years ago, an admission broadcast on national television following four days of questions over the investment.

European Union proposals to crack down on corporate-tax avoidance are getting stuck in a fight over how to curb aggressive tax strategies through foreign ownership, threatening the possibility of a deal by June.

Panama and the U.S. have at least one thing in common: Neither has agreed to new international standards to make it harder for tax evaders and money launderers to hide their money.

Banks that deal with international tax reporting are facing a slew of upcoming deadlines and regulations.

Leaked files from a Panama law firm that creates shell companies show that politicians, criminals and celebrities worldwide have used banks and shadow companies to hide their finances, according to a series of reports by the International Consortium of Investigative Journalists.

The roughly 8 million Americans who live abroad automatically get a couple additional months each year to file their taxes. Don’t expect them to be grateful.

The American Institute of CPAs has written to the Internal Revenue Service recommending some changes in the IRS’s proposed regulations for country-by-country reporting by multinational corporations of financial information to curb tax avoidance.