Monte Paschi Capital Wiped Out in European Bank Stress Test
Bloomberg / John Glover , Sonia Sirletti
Banca Monte dei Paschi di Siena SpA was the worst performer in European regulators’ stress tests, the only lender of 51 to have its capital wiped out in the exam, as the region struggles to contain an Italian banking ...
HMRC defeats £30m EY tax avoidance scheme
By Richard Crump
HMRC has defeated a tax avoidance scheme used by a major brewery and marketed by EY, protecting around £30m in tax.
The avoidance scheme, marketed by EY in 2003, to brewery Greene King and other large groups, involved loans between ...
RS Loses Court Battle Over Access to Offshore Tax Records
David Voreacos / Bloomberg
A U.S. appeals court made it harder for the Internal Revenue Service to get some tax records of Americans with offshore accounts, denying the agency’s request for records of a U.S. client at LGT Group in Liechtenstein
Panama Papers: EU Parliament to ask Mossack Fonseca representatives to testify
Written by Martin Banks in News
Controversial law firm Mossack Fonseca and representatives of the Panama government will be asked to testify in a newly created parliamentary committee on the Panama Papers affair.
Confirmation of the invitation came at ...
The Fortune 500 Companies with the Most Cash in Offshore Tax Havens
By JEFF DESJARDINS
The amount of money stashed overseas by U.S. multinationals has exploded in recent years, doubling between 2008 and 2014 to more than $2 trillion.
For some perspective on the numbers, cost-estimating website HowMuch.net crunched the most ...