European Tax News

Russian tax collectors to be given money-scented soap

In a bid to make Russian tax collectors more interested in their jobs, a local government has come up with a rather bizarre scheme – providing them with money-scented soap. The idea is that the special odor will stimulate and inspire tax collectors ...

Apple Faces 13bn-euro Irish tax bill

Ireland should recover up to €13bn (£11bn) from Apple in back taxes, the European Commission has ruled. After a three-year investigation, it has concluded that the US firm's Irish tax benefits are illegal. The Commission said Ireland enabled the company to ...

Britain launches soft drinks sugar tax to fight obesity

Britain on Thursday (18/8/2016) said it would tax companies which sell sugary soft drinks and invest that money in health programs for school children, part of a long-awaited strategy to curb childhood obesity that critics say is too weak.Drinks companies ...

Lionel Messi jailed 21 months for tax fraud

Lionel Messi has been sentenced to 21 months in jail for tax fraud by a Spanish court. Under Spanish law any sentence under two years can be suspended meaning the Barcelona and Argentina footballer is expected to avoid serving time in prison. ...

Lionel Messi to give evidence at tax fraud trial

The Argentina and Barcelona footballer Lionel Messi is due to give evidence in a Spanish court on tax fraud charges. Messi and his father Jorge, who manages his financial affairs, are accused of defrauding Spain of more than €4m (£3m; ...

France going 'all the way' to collect tax from Google, McDonald's

France will go "all the way" to make corporations like Google and McDonald's pay their fair share of taxes, the country's finance minister said. Police raided the French offices of Google (GOOGL, Tech30) and McDonald's (MCD) this month as part of investigations into tax avoidance. Michel Sapin, the finance ...

Brexit: The Tax Implications

In brief The tax impact of an exit by the UK from the EU would depend on a number of factors, including the nature of the UK’s future relationship with the EU. In the short term, some EU laws which ...

What Tax Inversions and the Panama Papers Have in Common

The cancellation of the Pfizer-Allergan tie-up suggests governments are cracking down on tax loopholes I wrote Tuesday that the Panama Paper revelations would lead to a crackdown on global tax avoidance, along with more scrutiny of all sorts of international financial flows. ...

Panama Papers: a massive document leak reveals a global web of corruption and tax avoidance

Mossack Fonseca is not a household name, but the Panamanian law firm has long been well-known to the global financial and political elite, and thanks to a massive 2.6-terabyte leak of its confidential papers to the International Consortium of Investigative Journalists it's about ...

Panama Papers: Mossack Fonseca leak reveals elite's tax havens

A huge leak of confidential documents has revealed how the rich and powerful use tax havens to hide their wealth. Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca. They show ...

Panama Papers: Rich and powerful respond to claims they hid billions offshore

Elected leaders and top officials from around the world are responding with denials and outrage to allegations that they used secret offshore companies and accounts to hide billions of dollars. The media reports, based on a massive leak of documents, ...

REVEALED: EU migrants pocket MORE tax credits cash and child benefits than BRITISH workers

MIGRANTS from the EU are pocketing more taxpayers' cash than working Britons whilst undercutting wages, a study released today has found. European nationals are more likely to claim tax credits and child benefits than British born people, whilst still accessing ...

Amazon Italy chief says company under investigation for tax evasion

Amazon is one of three US tech companies together with Google and Apple that have faced tax allegations in Italy Amazon is under investigation in Italy for alleged tax evasion, its Italian boss said in an interview on Tuesday. Francois ...

EU to require country-by-country tax reporting, limited public release of data likely

EU to require enhanced multinational tax reporting, limited public release of country-by-country data likely European Union finance ministers today reached political agreement on requiring EU-wide country-by-country reporting by multinational corporations and on sharing that data between tax administrations. It was ...

Think Tank Calls For Simpler UK Tax Code

The Centre for Policy Studies, a think tank, has said the rate at which the UK's tax code is growing is unsustainable, and called for its simplification. A new report for the Centre for Policy Studies, authored by tax expert ...

OECD proposes new pension residence rules for model tax treaty

The OECD on February 29 proposed changes to its model tax treaty which, if adopted, would add some clarity regarding the determination of residence of pension funds. The OECD draft, titled “Concerning the Treaty Residence of Pension Funds,” would update ...

Facebook to pay millions of pounds more in UK tax

Facebook is set to pay millions of pounds more in tax in the UK after a major overhaul of its tax structure. After heavy criticism that it was avoiding tax, the BBC can reveal that profits from the majority of ...

Strong Start' For Australia's Exploration Tax Relief

The Australian Government has hailed a strong start for the Exploration Development Incentive (EDI), with 84 applications for credits being made in its first year of operation. The EDI enables eligible exploration companies to create exploration credits by giving up ...

Germany Announces House Construction Tax Incentives

The German Cabinet has approved a tax incentive bill intended to encourage the construction of new affordable-rent apartments to address a growing housing shortage in Germany. According to the Finance Ministry, the Bill provides for the introduction of a special ...

EU proposals will force multinationals to disclose tax arrangements

US multinationals such as Google, Facebook and Amazon will be forced to publicly disclose their earnings and tax bills in Europe, under legislation being drafted by the EU executive. The European commission is to table legislation in early April aimed at making the world’s ...