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INADIMPLENTES, CONTRIBUINTES TERÃO DE PAGAR ICMS À VISTA (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 07:31

por Fernanda Mathias

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

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Posted in BRASIL, CIDADANIA, CIDADES, COMBATE À CORRUPÇÃO - BRASIL, COMBATE À DESIGUALDADE E À EXCLUSÃO - BRASIL, COMMERCE, CRIMES EMPRESARIAIS, DEFESA DO CONSUMIDOR - BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIES, INTERNATIONAL, RECEITA FEDERAL - BRASIL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, TAX EVADING | Leave a Comment »

FÁBRICA DE MASSAS FUNCIONAVA DESDE 2002 SEM LICENÇA (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 12:34

por Aline Queiroz

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in ALIMENTOS PROCESSADOS, ATIVIDADES CRIMINOSAS - BRASIL, BRASIL, CIDADANIA, COMBATE À CORRUPÇÃO - BRASIL, COMMERCE, COMMODITIES MARKET, CRIMES EMPRESARIAIS, CRIMINAL ACTIVITIES, DEFESA DO CONSUMIDOR - BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOOD PRODUCTION (human), INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, O PODER EXECUTIVO ESTADUAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STATE TARIFFS, TAX EVADING | Leave a Comment »

TAX EVASION, MONEY FLIGHT EYED IN SENATE FERTILIZER PROBE (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

01/03/2009

by Angie M. Rosales

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

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PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CORRUPTION, ECONOMIC CONJUNCTURE, ECONOMY, FERTILIZERS, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INDUSTRIES, INTERNATIONAL, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, TAX EVADING | Leave a Comment »

PROBE FESHAN FOR TAX DODGE, GORDON URGES (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

January 03, 2009 05:42 PM Saturday

by Bernadette E.Tamayo

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

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PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

Posted in AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CORRUPTION, ECONOMIC CONJUNCTURE, ECONOMY, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MONEY LAUDERING, PHILIPPINES, RECESSION, TAX EVADING | Leave a Comment »

POLÍCIA FEDERAL PREPARA 12 AÇÕES PARA 2009 – OPERAÇÕES JÁ DEFLAGRADAS TERÃO DESDOBRAMENTO AO LONGO DO PRÓXIMO ANO (Brazil)

Posted by Gilmour Poincaree on December 30, 2008

30/12/2008 – 04h08min

Zero Hora

PUBLISHED BY ‘ZERO HORA’ (Brazil)

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PUBLISHED BY ‘ZERO HORA’ (Brazil)

Posted in A CORRUPÇÃO NO APARELHO DO ESTADO, AS FORÇAS ARMADAS, AS GANGUES 'MILICIANAS', ATIVIDADES CRIMINOSAS - BRASIL, BRASIL, CIDADANIA, COMBATE À CORRUPÇÃO - BRASIL, CORRUPÇÃO - BRASIL, CORRUPÇÃO NA POLÍTICA, CORRUPTION, CRIMES AMBIENTAIS - BRASIL, CRIMES EMPRESARIAIS, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FRAUD, INFRINGEMENT OF COPYRIGHTS, INTERNATIONAL, MONEY LAUDERING, NARCOTRAFFIC, NARCOTRÁFICO, O CRIME ORGANIZADO, O PODER EXECUTIVO FEDERAL, O PODER JUDICIÁRIO, PAEDOPHILIA, PECULATO, POLÍCIA FEDERAL, PREVARICAÇÃO, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, SLAVERY, SMUGGLING, TAX EVADING | Leave a Comment »

BIR THREATENS TO SHUT DELINQUENT FIRMS

Posted by Gilmour Poincaree on December 29, 2008

01:01:00 12/30/2008

by Michelle Remo – The Philippine Daily Inquirer

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PHILIPPINE DAILY INQUIRER’

Posted in BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INTERNATIONAL, PHILIPPINES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, TAX EVADING | Leave a Comment »

SWISS BANK SECRECY IN TOUGHEST TEST SINCE NAZI GOLD

Posted by Gilmour Poincaree on December 12, 2008

December 11, 2008

by John O’Donnell – Reuters

PUBLISHED BY ‘THE FINANCIAL MIRROR’ (Cyprus)

More than a decade after holocaust survivors won compensation from Swiss banks for emptying Jewish accounts that had lain dormant since the war, the pressure is on again to dismantle Swiss banking secrecy.

This time, the tax collector is leading the charge.

With Washington joining Germany to press for an end to a code they believe helps tax dodgers, many see it as only a matter of time before the Swiss lift the cloak guarding the secrets of the world’s wealthy.

“The challenge to bank secrecy is a thunderstorm which has been brewing since the holocaust money,” said Sebastian Dovey of consultancy Scorpio Partnership. “It is a hot potato and I don’t think the heat is going to be turned down.”

Nearly one-third of wealth kept abroad globally is in Swiss banks: the Swiss Bankers Association and consultants estimate this at $2.2 trillion, making the Alpine state the globe’s biggest offshore centre ahead of Britain and Luxembourg.

But its code of secrecy — which local myth inaccurately claims was introduced to protect fleeing Jews — is as controversial as it is protective.

Laid down in a 1934 law, it has spawned plots for bestselling thrillers, but also real-life intrigues such as that of Gizella Weisshaus.

Shortly before her father was murdered by the Nazis during the war, he told his children about gold coins and jewellery he had stowed away as Germany’s army marched towards their home in Romania.

“I found the money and his gold watch hidden in the roof of my house,” she told Reuters by telephone from New York. “And there were some pieces of paper. It didn’t mean anything to me.”

Decades later, the Auschwitz survivor was still trying to unravel the riddle of those long-discarded papers which likely contained the numbers of Swiss bank accounts.

But like many others who travelled to Zurich to trace her father’s money, she was turned away repeatedly.

She later became central to a series of legal actions taken against the banks and in the mid-1990s under pressure from Washington and Jewish community group the World Jewish Congress, they finally paid $1.2 billion for accounts they had sucked dry.

Now Switzerland faces its toughest assault since. In an escalation of a U.S. investigation into its biggest bank, Raoul Weil, head of UBS’s wealth management business, was recently charged with helping Americans hide billions.

“With the UBS case, Switzerland is under huge international pressure and pretty much back in the situation it was then,” said Swiss Social Democrat party official and historian Peter Hug.

“Holding onto bank secrecy is not going to work in the long term. Switzerland is small and it cannot afford to help tax evasion in its neighbouring countries.”

POLITICAL PRIORITY

Germany, which at the start of the year paid an informant for the names of tax dodgers who parked money at LGT bank in smaller hideout Liechtenstein, is also pushing for change.

“In the end, Switzerland will have no way around declaring who its foreign bank account holders are,” said Hans Eichel, who as German Finance Minister between 1999 and 2005 tried to tackle offshore havens.

“This is a business based on a criminal activity — dodging tax in a neighbouring country.”

The Swiss have already made some concessions: introducing, for example, a tax on income earned by European Union citizens in Swiss accounts.

Stuart Eizenstat, U.S. Deputy Secretary of the Treasury under Bill Clinton, said the dormant accounts case he helped negotiate prompted the Swiss to cooperate on other fronts.

“I do think it had a catalytic effect of making the banks more open,” he said. “They became strong supporters, for example, of the anti-terrorist financing measures. It did spur them to become more open on money-laundering.”

But with demands from Germany that Switzerland be blacklisted by the Organisation for Economic Cooperation and Development, pressure is rising for more.

“The Americans said that if you do not cooperate, then we will make sure you cannot do business here,” said Eichel. “European neighbours of Switzerland such as Germany have to consider similar measures.”

Many believe an agreement between Liechtenstein and the United States this week to drop bank secrecy in cases of tax evasion could force Switzerland into similar concessions.

Prince Nikolaus, the brother of Liechtenstein’s ruling monarch and the country’s ambassador to Brussels, said UBS’s problems and Germany’s probe of his family’s bank, LGT, sent a clear message to offshore havens.

“It was these two banks — the biggest in their respective countries — which were turned into a big case,” he told Reuters by telephone from Brussels. “It has symbolic value. It shows the political priority.”

AIR THINNING FOR ELITE

The pressure from Washington is unlikely to let up. As a senator, U.S. president-elect Barack Obama introduced legislation early last year to make it easier to probe and prosecute tax dodging in offshore locations.

As president, he will need to fund an economic stimulus plan that analysts estimate could cost at least $500 billion.

Hug believes Liechtenstein’s move shows the air is also getting thinner for the Swiss elite. And he sees the first cracks appearing in the country’s usually unshakeable facade.

“There is a conflict of interest between Swiss industry and the banks,” he said. “Industry wants compromise on bank secrecy so that the country’s image is not spoilt.”

Switzerland’s banks — the liabilities of its two largest are more than seven times the country’s Gross Domestic Product — have been talking up the services they offer beyond hiding customer identity.

“This is not all we have,” said Urs Roth, Chief Executive of the Swiss Bankers Association. “We do have a number of traditional advantages, like the economic, monetary and social stability.”

Ultimately, however, it may not be the industry but Swiss pride that is the biggest hurdle to dropping bank secrecy. A nationwide vote would likely be needed to change the rules.

Few speak out publicly on the subject. No major Swiss bank wanted to discuss it with Reuters.

“The Swiss are so brainwashed, that the bank there is untouchable,” said Maram Stern, who as Deputy Secretary General of the World Jewish Congress oversaw negotiations with the Swiss banks about dormant accounts.

“This was what the normal person on the street was not capable of understanding. There were people asking me: how can you question the bank?”

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL MIRROR’ (Cyprus)

Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, EUROPE, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, HISTORY, HUMAN RIGHTS, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDAISM, JUDICIARY SYSTEMS, RECESSION, SWITZERLAND, TAX EVADING, THE EUROPEAN UNION, USA | Leave a Comment »

CLOSED-DOOR SESSIONS IN ISLAMABAD ON 16TH, 17TH – World experts to discuss 5-year plan to boost tax collection

Posted by Gilmour Poincaree on December 5, 2008

Friday, December 05, 2008

by Ikram Hoti

PUBLISHED BY ‘THE NEWS’ (Pakistan)

ISLAMABAD: International experts are converging on Islamabad to hold “closed-door” sessions on December 16-17 to devise a five-year plan of taxation in the post-IMF-agreement era to boost tax collection in Pakistan without burdening the poor majority who are already suffering history’s worst stagflation.

The sessions are to be aimed at dealing with Pakistan’s national taxation and introduce sub-national taxation for the first time. Details of this version for Pakistan will be chalked out at the sessions of experts. It is IMF condition to improve collection but Pakistan has remained hesitant and needed international help not only in a foreign exchange injection but also in expert assistance that could plan the rescue without causing much stir, inflation and poverty enhancement.

The World Bank and the DFID are the main sponsors of the Dec 16-17 workshop and the media would not be informed about the conduct of, and decisions, at the workshop but The News has been able to acquire some details.

In the first place, the format for the sessions is “closed door’ so that there can be uninhibited discussion of the “issue and concerns of the main stakeholders.”

International experts will include Professor Martinez-Vasquez, Michael Keen, Christopher Waerzeggars and Carlos Silvani, along with the staff of a number of international agencies including the IMF, WB, WHO and DFID.

A “blueprint” for taxation and reforms will be prepared with a clear plan to increase the collection of taxes from 10 per cent (one of the lowest in the world) of GDP to 14-15 per cent.

A new mechanism would be proposed for this purpose to tax areas where the subsistence economy of the poor does not undergo additional cost. This would be simultaneous with another mechanism that would ensure plugging all slippages by installing an online connectivity between the Customs, Income Tax and Sales Tax Departments.

This connectivity would ensure information input to the three sides from taxable business generated in the country and through imports and exports. Efforts already made administratively and technically in this connection would be examined and the Pakistani bosses would be asked to explain why feet were dragged on this previously IMF-sponsored (1995) mechanism and it could not made operational.

They will also be asked to explain as to why the gap between the businesses generated and the taxes collected on them remained unattended and nothing significant was ever done conclusively to asses the gap and to minimise it. That would be a sensitive issue, as it would relate not only to the corruption and dereliction on the part of the tax machinery but also to politicians, the bureaucratic channels in the civil and military apparatus.

A key element in this regard would be the establishment of a tax system that “does not penalise investment and production incentives or discriminate against the poor, and, at the same time, provides adequate revenues in an orderly manner yet under a tight timeframe of 4-5 years.”

It is projected to achieve economic stability while keeping in view the revenue-incentive objectives. This tax reform strategy would need to be closely dovetailed with the administration reforms. A complete reassessment of the Pakistani tax system has already been conducted for this purpose.

The proposals for reform would be offered by Michael Keen of the IMF (Reforming the Income Tax and GST); Kasper Richter of the World Bank.

(Summary of the Bank’s Project Proposals); Ms Ayda and Mr Petit of the WHO (Excise System); Professor Martinez-Vasquez of Georgia State (Tax Policy Options); Carlos Silvani, head of the WB Review Mission (FBR Reforms Review and the Way Forward); Professors Roy Bahl and Sally Wallace (Sub-national Taxation).

“The purpose of the brainstorming sessions is to achieve the objective of a significant enhancement in Pakistan’s domestic resource mobilization as part of its stabilisation and reform strategy.”

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS’ (Pakistan)

Posted in BANKING SYSTEMS, CENTRAL BANKS, COMMERCE, DEPRESSION, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, IMF, INDUSTRIAL PRODUCTION, INDUSTRIES, INFLATION, INTERNATIONAL, PAKISTAN, REGULATIONS AND BUSINESS TRANSPARENCY, STAGFLATION, STOCK MARKETS, TAX EVADING, THE FLOW OF INVESTMENTS | Leave a Comment »

HSBC PRIVATE BANKING PART OF US PROBE

Posted by Gilmour Poincaree on December 3, 2008

Wednesday, December 03, 2008

BenjaminScent

PUBLISHED BY ‘THE STANDARD’ (Hong Kong – China)

The US Justice Department has launched a criminal investigation into whether HSBC’s (0005) private banking division illegally helped American clients avoid paying taxes by hiding their money in undeclared offshore bank accounts, according to media reports.

The investigation began in September and is looking into whether HSBC and Credit Suisse helped rich Americans squirrel away up to US$30 billion (HK$234 billion) in offshore accounts that were not declared in US tax filings, The New York Times quoted two sources as saying.

A London-based spokesman for HSBC declined to comment.

Meanwhile, HSBC said it is cutting 500 jobs from its British operations. The cuts, which account for less than 1 percent of HSBC’s 58,000 workers in the country, are mostly in London. No frontline staff in retail branches or call-center staff are impacted, according to a statement.

Separately, Standard Chartered Bank (Hong Kong) confirmed it is cutting 200 staff in the SAR, with the layoffs spread across different departments and different seniority levels. The bank started notifying the affected staff yesterday, a spokeswoman said. The layoffs account for about 4 percent of Standard Chartered’s staff in Hong Kong.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE STANDARD’ (Hong Kong – China)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HONG KONG, INTERNATIONAL, JUDICIARY SYSTEMS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SPAIN, TAX EVADING, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE PRESIDENCY - USA, USA | Leave a Comment »