tax evasion

Canada’s RBC Denied Facilitating Tax Evasion in Connection to Panama Papers Leak

The Royal Bank of Canada has released an official statement, explaining that the bank is not guilty for any illegal activities including tax evasion in connection to shell company set up as mentioned in leaked papers from Panama’s Mossack Fonseca. The bank claimed to have high standards to ensure clients would not use its services to evade tax.

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Draft of EU Anti-Tax Evasion Law is Under Pressure after Panama Leaks

Advocacy groups heavily criticized the draft as it allows company to hide their activities. Meanwhile, Iceland Prime Minister has resigned following protest over Panama leaks.

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Panama Papers: Ukrainian President Poroshenko Denied Accusations of Tax Evasion

The Panama Papers documents leak suggest that Ukrainian President Petro Poroshenko might be using an offshore company to evade tax. However, the president has denied such accusations, saying that he has not been managing the assets since he became president in 2014.

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US Treasury norms clamp merger plan of Pfizer for Allergan

The $160-billion merger plan of Pfizer Inc and Allergan Plc is heading towards termination owing to new measures announced by the US Treasury Department which has been taking measures to curb malpractices by US companies in tax evasion by merging with foreign firms.

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HSBC says Swiss scandal has brought 'shame' on bank

HSBC (HSBA.L) reported a 17 percent fall in annual pretax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.

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RJ Lane sues Deutsche Bank, BDO Seidman for fraudulent tax shelter

RJ Lane filed a case against Deutsche Bank, BDO Seidman and a former partner of BDO Seidman over claims that they formed a fraudulent tax shelter that caused him losses, Bloomberg reported.

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US and Swiss governments agree on step closer to removal of secrecy laws

The new agreement between US and Swiss governments would allow payment of fines or deferment of prosecution from tax evasion committed by US clients.

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Private banks exit Switzerland, assets dropped to CHF870.7 billion

A decrease in foreign-owned Swiss banks continue due to investors withdrawal of their money and taxes that were not paid accordingly.

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Mayors: Cap on municipal bond would hinder growth

The U.S. Conference of Mayors said President Barack Obama's financial plan would hurt the economy.

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Barclays Under Investigation by German Tax Authorities

Barclays is under investigation by German tax authorities for possible tax evasion according to German newspaper.

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