Tax avoidance

The Netherlands, long considered to be at the heart of a system of multinational corporate profit-shifting, has signaled that it’s ready to support a U.S. proposal that ends the practice.

The Senate Budget Committee chairman wants to raise the corporate tax rate to 35 percent.

More than 20 percent of the wealthiest Americans’ income isn’t being reported to the Internal Revenue Service, according to a new study that calculates U.S. tax evasion is far higher than previously estimated.

The European Union is seeking to overturn Apple Inc.’s victory in a 13 billion-euro ($15.7 billion) tax dispute, saying judges used “contradictory reasoning” when they found that the company’s Irish units weren’t liable for huge payments.

Taxpayers around the world lose at least $427 billion each year to individual tax evasion and multinational corporate profit-shifting, which undercuts public funding for a COVID-19 response, according to a new report.

The Internal Revenue Service is offering less generous settlement terms to participants in micro-captive insurance schemes as part of its clampdown on the transactions.

The Internal Revenue Service is now allowing tax advisors and taxpayers to fax the Form 8918, Material Advisor Disclosure Statement, as part of its response to the novel coronavirus pandemic.

Robert T. Brockman, a Houston software tycoon, was charged with using a web of Caribbean entities to hide $2 billion in income in what prosecutors called the largest U.S. tax case ever against an individual.

Smith will acknowledge wrongdoing to end a four-year U.S. tax investigation involving assets held in offshore tax havens.

The Internal Revenue Service is temporarily allowing taxpayers who engage in so-called “reportable transactions,” typically tax shelters, to fax the Form 8886 for initially disclosing them to the IRS instead of mailing in the form.

Apple Inc.’s victory over a record back-tax order faces a challenge at the European Union’s top court as Competition Commissioner Margrethe Vestager seeks to rescue her crackdown on allegedly unfair fiscal deals doled out to multinational companies.

The Democratic presidential nominee is proposing a 10 percent tax penalty on companies that move operations overseas and a 10 percent tax credit for companies that create jobs in the U.S.

The Internal Revenue Service released final regulations for the base erosion and anti-abuse tax that is supposed to discourage multinational corporations from shifting profits overseas.

The iPhone maker’s court victory follows separate criticism that huge EU antitrust fines for Google have made little difference.

New data shows the extent to which multinational companies shift profits around the globe to avoid tax, increasing pressure on international efforts to rewrite rules for a digital era, the OECD said.

Apple Inc. will find out next week whether it won the first round of its bid to topple a record 13 billion-euro ($14.7 billion) Irish tax bill imposed by European Union state-aid regulators.

Uruguay will soon be even more welcoming to wealthy foreigners looking for a new home following a presidential decree that makes it cheaper to obtain tax residency in the South American country.

The founder of U.K. discount retailer Matalan Plc is suing PricewaterhouseCoopers over claims he lost as much as 135 million pounds ($165 million) by relying on advice the accounting firm gave him when he moved to Monaco 20 years ago.

Lax eligibility requirements are raising new questions about which firms should get access to public money.

Richard Branson moved assets from the U.S. to the British Virgin Islands, highlighting his use of tax havens at a time one of his businesses sought a state bailout because of the coronavirus pandemic.