Category Archives: Tax avoidance

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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BVI among top tax havens for US taxpayers to avoid taxes

According to the report from the left-leaning Citizens for Tax Justice and the U.S. Public Interest Research Group, the British Virgin Islands is among the top three offshore jurisdictions for U.S. companies. Along with the Cayman Islands and Bermuda, BVI … Continue reading

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Company receiving state contracts makes use of BVI-based companies

Virgin Care, one of private health providers that has been awarded contracts worth hundreds of millions of pounds, for more than 230 NHS and social care services, has been found to include

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International restaurant chain uses complex offshore structure including BVI companies

The Guardian reported that well-known restaurant chain Nando’s had been accused of operating a complex offshore tax avoidance scheme. South African capital of the chain flows through Malta, the Isle of Man, Guernsey, Ireland, the Netherlands, Luxembourg, Panama and the … Continue reading

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British Virgin Islands among top offshore jurisdictions for US corporations

According to the report issued last week by Citizens for Tax Justice, high profits are made by the US corporations in offshore jurisdictions such as Bermuda, the Cayman Islands, Switzerland, the Bahamas, the BVI, and many others. In tax havens … Continue reading

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BVI-registered trust involved in charity scandal

One of the biggest charities in the United Kingdom got involved the Cup Trust scandal which made known that it raised £177million in 11 months but gave to good causes just £55,000 of them, through legal avoidance. The story was … Continue reading

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Australian Taxation Office investigates profit shifting to offshore structures

The Australian Taxation Office (ATO), as well as the Australian Government, is concerned about the risks and issues with the country’s tax system, and next year it is planning to focus on profit shifting, tax crime, and the misuse of … Continue reading

Posted in BVI Companies, Investigation, Offshore investment schemes, Offshore tax havens, Revenue Service, Tax avoidance, Tax fraud, Tax planning, Tax Shelters | Leave a comment

ICIJ continues investigation and releases Offshore Leaks Database

The International Consortium of Investigative Journalists (ICIJ), which started in April with the report named “Secrecy for Sale: Inside the Global Offshore Money Maze”, revealing information on more than 120,000 offshore companies and trusts and about 130,000 individuals and agents … Continue reading

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Court rules on Goldman Sachs tax deal through BVI subsidiary

A judge at the High Court of London is asked to rule on HM Revenue and Customs (HMRC)  action with the investment bank Goldman Sachs, and decide if it was legal to let it make off part of its tax … Continue reading

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