Category Archives: Tax avoidance

BVI among countries named in new ‘Paradise Papers’ leak

In the end of last week the US-based International Consortium of Investigative Journalists (ICIJ), which released Panama Papers last year, made public the Paradise Papers, a leak containing over 13 million documents being sifted through by journalists in more than … Continue reading

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BVI company involved in Iceland’s former Prime Minister’s tax payment issues

It became known that Wintris, an offshore company registered in the British Virgin Islands and owned by the wife of former Primer Minister of Iceland, failed to pay taxes in Iceland for a period of several years. The existence and … Continue reading

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UK Government investigates cases of possible tax evasion by landlords

Transparency International UK has published a report informing that London properties are being purchased anonymously through companies. The organisation investigated the cases, and found that more than third of properties sold in a new Kensington and Chelsea development areas were … Continue reading

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Capital Economics reports BVI companies allowing to avoid US$750mln tax

According to the new report by British company Capital Economics, the assets held offshore in the BVI jurisdiction are worth US$1.5 trillion, twice more than the 2010 statistics of the International Monetary Fund. Two thirds of the BVI-registered companies are … Continue reading

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New US Treasury Secretary asked for tax haven problem decision

The new nominee of Trump administration for Treasury Secretary, Steve Mnuchin, was asked by Senate about his intention to close down Caribbean tax havens. Members of the US Senate requested details of how it is expected to close the tax … Continue reading

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Pakistan requesting information from BVI and some other countries authorities

Finance Minister of Pakistan has requested the Federal Board of Revenue (FBR) to seek information in the Panama and Bahamas leaks. Pakistan will ask for information from the tax authorities of nine jurisdictions, including British Virgin Islands, the Bahamas, Jersey, … Continue reading

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BVI and other jurisdictions to lose money for the US

According to the article from Bloomberg Businessweek, by Jesse Drucker, the US is becoming the “leading tax and secrecy haven for rich foreigners”, as it remained one of a few countries not to have signed on to an international standards … Continue reading

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About 30 Korean companies and individuals suspected of tax evasion

Korea’s National Tax Service launched an investigation into 30 corporations and individuals suspecting them of tax evasion with the help of offshore tax havens. According to the tax authorities of the country, the targeted entities and individuals are said to … Continue reading

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Report published on UK Overseas Territories

The assessment published by Christian Aid, Global Witness, and the Tax Justice Network and Transparency International UK, under the name “The UK’s Corruption Problem”, reveals the fact that the UK has not actually made significant improvements as to financial transparency … Continue reading

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U.S. Department of Justice continues offshore enforcement measures

The U.S. Department of Justice confirmed its commitment to continue offshore enforcement efforts, during recently held tax conference. The senior Justice Department official mentioned enforcement announcements concerning British Virgin Islands, India, Israel, Liechtenstein, Panama and Belize. The official also commented … Continue reading

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