#tax-avoidance

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from Business Insider
2 days ago

The Senate is targeting life-insurance policies that allow the rich to pass down everything from stocks to yachts to their kids tax-free. Here's how it works.

Private-placement life insurance allows ultra-wealthy individuals to avoid estate taxes and significantly cut tax bills, with potential legislative changes on the horizon.

Senator Michael McDowell calls for capital gains tax to be slashed in Seanad speech on the Finance Bill

Tax rates significantly influence capital gains tax revenues, with reductions potentially leading to increased compliance and revenue.
High capital gains tax rates encourage tax avoidance through emigration.
#umbrella-companies

Government urged to act after four more tax avoidance schemes identified - London Business News | Londonlovesbusiness.com

HMRC's identification of more tax avoidance schemes highlights a significant issue requiring urgent regulatory changes to protect vulnerable workers.

HMRC's list of known tax avoidance schemes and non-compliant umbrellas nears 100 names | Computer Weekly

HMRC added nearly 100 non-compliant umbrella companies to its list, signaling a significant rise in tax avoidance schemes.

Government urged to act after four more tax avoidance schemes identified - London Business News | Londonlovesbusiness.com

HMRC's identification of more tax avoidance schemes highlights a significant issue requiring urgent regulatory changes to protect vulnerable workers.

HMRC's list of known tax avoidance schemes and non-compliant umbrellas nears 100 names | Computer Weekly

HMRC added nearly 100 non-compliant umbrella companies to its list, signaling a significant rise in tax avoidance schemes.
moreumbrella-companies

HMRC recovers 70m in tax crackdown on footballers and agents

HMRC recovered nearly £70 million in unpaid taxes from football entities through a crackdown on tax avoidance schemes.
Investigations target the misuse of dual-representation contracts and player image rights in football.

Trump and Harris want to end taxes on workers' tips. Here's why that wouldn't work

Congress has not implemented the elimination of federal taxes on workers' tips due to complexities and potential loopholes leading to tax avoidance by higher-income individuals.

Despite Historic Levels of Inequality, Yellen Opposes Global Billionaires Tax

The U.S. Treasury Secretary opposes a global tax on billionaires at the G7 meeting to set a minimum international rate for the ultra-wealthy.
#taxation

Can the UK's 40bn 'Tax Gap' Be Bridged by the Next Government?

Both major UK parties aim to reduce the tax gap through combating tax avoidance, though experts doubt the feasibility of raising up to £6 billion solely from this measure.

CRA pausing new 'bare trust' reporting requirement just days before filing deadline | CBC News

CRA paused new bare trust reporting requirement days before deadline
Unintended impact on Canadians led to the pause of new reporting requirements for bare trusts.

Can the UK's 40bn 'Tax Gap' Be Bridged by the Next Government?

Both major UK parties aim to reduce the tax gap through combating tax avoidance, though experts doubt the feasibility of raising up to £6 billion solely from this measure.

CRA pausing new 'bare trust' reporting requirement just days before filing deadline | CBC News

CRA paused new bare trust reporting requirement days before deadline
Unintended impact on Canadians led to the pause of new reporting requirements for bare trusts.
moretaxation

Who is Rishi Sunak?

Rishi Sunak, UK's British-Indian Prime Minister, faced controversies around tax avoidance, Partygate scandal, and challenging pandemic decisions.

How the US is stalling hard-fought global tax reform DW 07/02/2024

Implementing a global minimum tax rate for multinational corporations to prevent tax avoidance.

Pakistan: Parliament passes tax-heavy budget to appease IMF DW 06/28/2024

Pakistan's parliament approved a tax-heavy budget aiming for a 40% increase in tax revenues, seeking IMF loans to avoid default amidst widespread tax avoidance and economic challenges.

The IRS Wants to End Another Major Tax Loophole for the Wealthy

End of tax loophole for wealthy taxpayers potentially raising $50 billion in revenue, halting partnership basis shifting to prevent tax avoidance.
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