Want to get away with not paying taxes but don't have the money to make your own offshore company in the Cayman Islands? Fret not - you can hijack an existing offshore company starting from the low low price of 99 cents! [more inside]
The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming. At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol.[more inside]
ICIJ has 2.5 million files from over 120,000 offshore legal entities covering 30 years of emails and financial records from from 10 offshore tax havens.. [more inside]
"The head of HM Revenue and Customs is to be grilled by MPs over revelations hundreds of tax evaders are to avoid prosecution and being named publicly after striking immunity deals with the taxman." [more inside]
"So when she studies the Greek balance sheet and demands measures she knows may mean women won't have access to a midwife when they give birth, and patients won't get life-saving drugs, and the elderly will die alone for lack of care – does she block all of that out and just look at the sums?" [more inside]
Despite evidence of extensive misconduct, English football coach Harry Redknapp remains beloved in the hearts and minds of football fans.
The Yes Men pull one over on the AP, by convincing them that GE was going to donate their 3.2 billion dollar tax credit in response to public anger over the fact that they pay no taxes.
If you buy a Billy, a wee bunch of crowns goes directly into the pocket of their boss which (that is, the metaphorical pocket) resides in Liechtenstein and pays no taxes. Single link to the news of the day in Swedish. [The TV programme "uppdrag granskning," love-hated revelation-platform of the Swedish TV, cooperated this time with a bunch of newspapers to get the capitalist truth about this family company to the people. Background in Swedish here]
When is paying $950/month for a bedroom in a boarding house potentially tax evasion and an ethics violation? When you're a congressman living at the C Street House in Washington D.C., where the going rates for similar accommodations is typically four times that amount. Citizens For Responsibility and Ethics In Washington (CREW) has filed official complaints with both houses of Congress. Rachel Maddow covers the scandal on her show. [Transcript here -- it's the lead story on this page.]
This morning, in Austin, Texas, a Piper Cherokee single-engine plane [was] crashed into an office building partially occupied by the IRS. It appears to be the work of an individual, but the story keeps getting weirder. The suspected person may have also burned his house down this morning.
Wesley Snipes is in a lot of trouble. On trial for tax fraud, Snipes is apparently defending himself by employing the 861 argument, a longtime favorite of tax protesters, which advances the odd position that only foreign income is subject to federal income taxation. [more inside]
Valentino Rossi is a very successful, well-compensated motorcycle racer and winner of numerous Grand Prix World Championships. He is under investigation by Italian authorities for tax evasion, which The Doctor allegedly accomplished in part by relocating to London and possibly taking advantage of the Non-domicile classification [link to google cache to avoid registration] for tax purposes. According to UK authorities, in 2003, for instance, his declared income was £650. Even a priests is becoming vocally upset at Rossi and the public's reaction. On a far larger scale, the UK was earlier this year identified as an Offshore Financial Center in an IMF white paper [34 page PDF]and there are those who think the purported tax-haven monster should be confronted. The Norwegian government agrees and wants to "facilitate the recovery of assets illicitly stacked away in tax havens" by way of a global coalition, of which the UK is not part.
The Temple of Hayah: a religion that renders its followers immune to the any laws other than the Ten Commandments. Followers need not pay taxes. But TOH is mad at Wikipedia because Wikipedia hate-crimed TOH. So TOH suggests that you tip off the FBI.