Tag #Tax Fraud

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napoli.repubblica.it

🌐 75% Global Worthiness

Sep 18, 10:18

Italian Authorities Seize \$6 Million in Assets from Phone Company Amid Tax Fraud Investigation

Italian authorities seized \$6 million in assets from a Casalnuovo di Napoli phone and appliance company and its influencer owner, Angelo Napolitano, due to an alleged tax fraud scheme involving the evasion of millions of euros in VAT through the issuance of false invoices.

Italian Authorities Seize \$6 Million in Assets from Phone Company Amid Tax Fraud Investigation

Italian authorities seized \$6 million in assets from a Casalnuovo di Napoli phone and appliance company and its influencer owner, Angelo Napolitano, due to an alleged tax fraud scheme involving the evasion of millions of euros in VAT through the issuance of false invoices.

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How did the company's revenue growth contribute to the fraud investigation?

The company's revenue experienced exponential growth from \$2.2 million in 2017 to \$20.8 million in 2023. This unusual growth pattern raised suspicion, prompting a closer examination of the company's financial practices and leading to the discovery of the tax evasion scheme.

dw.com

🌐 85% Global Worthiness

Jul 25, 13:12

German Court Upholds Millions in Fines for "Cum-Ex" Tax Fraud

Germany's top court upheld millions of euros in fines against a bank and two London share traders for their participation in the "cum-ex" tax fraud scheme, confirming a 2020 Bonn court decision and setting a precedent for future cases involving the complex financial scheme.

German Court Upholds Millions in Fines for "Cum-Ex" Tax Fraud

Germany's top court upheld millions of euros in fines against a bank and two London share traders for their participation in the "cum-ex" tax fraud scheme, confirming a 2020 Bonn court decision and setting a precedent for future cases involving the complex financial scheme.

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How did the "cum-ex" scheme operate, and what specific actions led to the billions of euros in losses for European governments?

The "cum-ex" scandal involved complex financial transactions where traders exploited a loophole to claim multiple tax rebates on the same dividend payments. This resulted in billions of euros in losses for European governments, with Germany alone losing billions before closing the loophole in 2012. The case highlights the challenges of prosecuting sophisticated financial crimes.

lefigaro.fr

🌐 75% Global Worthiness

Jul 24, 19:13

France Withdraws Regulation Weakening Anti-Tax Fraud Measures Amidst Senate Pressure

The French government withdrew a regulation weakening anti-tax fraud measures ('CumCum') after senators' protests, citing political considerations and upcoming budget negotiations; approximately €4.5 billion in 'CumCum' related tax fraud is currently under recovery in France.

France Withdraws Regulation Weakening Anti-Tax Fraud Measures Amidst Senate Pressure

The French government withdrew a regulation weakening anti-tax fraud measures ('CumCum') after senators' protests, citing political considerations and upcoming budget negotiations; approximately €4.5 billion in 'CumCum' related tax fraud is currently under recovery in France.

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What immediate impact did the French Senate's objection to a government regulation have on tax policy?

The French government withdrew a regulation that weakened anti-tax fraud measures after senators protested. This measure, impacting foreign shareholders in French companies, aimed to prevent tax evasion through a scheme known as 'CumCum.' The withdrawal follows weeks of criticism accusing the government of favoring banking lobbies.

elpais.com

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Jul 19, 01:14

Spanish Ministry of Finance Received Confidential Tax Information in 2017: Emails Reveal Potential Violations

Emails reveal that Spain's Ministry of Finance under Cristóbal Montoro received confidential tax information on high-profile individuals and cases from the Tax Agency in 2017, potentially violating confidentiality laws and raising concerns about political influence.

Spanish Ministry of Finance Received Confidential Tax Information in 2017: Emails Reveal Potential Violations

Emails reveal that Spain's Ministry of Finance under Cristóbal Montoro received confidential tax information on high-profile individuals and cases from the Tax Agency in 2017, potentially violating confidentiality laws and raising concerns about political influence.

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What specific confidential tax information was shared, and what were the immediate consequences of this disclosure?

The Spanish Ministry of Finance, under Cristóbal Montoro, received confidential tax inspection updates on high-profile individuals including politicians, athletes, and celebrities, from the Tax Agency. This information, including details on cases like Gürtel and Pujol, was directly passed to the Minister's Chief of Staff. The source was the Tax Agency's former director-general, now implicated in the investigation.

elpais.com

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Jul 17, 07:11

Spanish Judge Implicates Former Finance Officials in Tax Break Scheme

A Spanish judge's ruling implicates 28 individuals, including former high-ranking officials from Spain's Ministry of Finance and executives from Equipo Económico, in a scheme to secure favorable tax legislation for gas companies between 2013 and 2018, allegedly leveraging their connections for finan...

Spanish Judge Implicates Former Finance Officials in Tax Break Scheme

A Spanish judge's ruling implicates 28 individuals, including former high-ranking officials from Spain's Ministry of Finance and executives from Equipo Económico, in a scheme to secure favorable tax legislation for gas companies between 2013 and 2018, allegedly leveraging their connections for finan...

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How did the alleged network of influence operate, and what evidence supports the judge's claims of collusion?

The judge's investigation centers on a network allegedly involving former Ministry of Finance officials and Equipo Económico, which secured tax breaks in 2013 and 2018 for gas companies affiliated with AFGIM. The implicated individuals held key positions influencing legislative processes, suggesting a direct link between private lobbying efforts and policy changes.

nrc.nl

🌐 85% Global Worthiness

Jul 10, 10:13

Ancelotti Sentenced to Prison for Tax Evasion

Brazilian national football team coach Carlo Ancelotti was sentenced to one year in prison and fined over €386,000 for tax evasion during his 2014 tenure at Real Madrid, using shell companies in tax havens to receive 15% of his salary through image rights, avoiding taxes on €1.2 million in income.

Ancelotti Sentenced to Prison for Tax Evasion

Brazilian national football team coach Carlo Ancelotti was sentenced to one year in prison and fined over €386,000 for tax evasion during his 2014 tenure at Real Madrid, using shell companies in tax havens to receive 15% of his salary through image rights, avoiding taxes on €1.2 million in income.

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How did Ancelotti's use of offshore companies and image rights facilitate tax evasion, and what role did his financial advisors play?

Ancelotti's tax evasion involved channeling a portion of his salary through shell companies in the UK and the Virgin Islands, which lacked physical presence or employees. He received €1.2 million through these companies in 2014 without declaring it, resulting in an undeserved tax refund of €39,000. This sentencing highlights a pattern of similar practices within Spanish football, as suggested by Ancelotti himself, who stated that it was common practice and that other players also used this method.",

nos.nl

🌐 85% Global Worthiness

Sep 10, 04:18

John Elkann, Stellantis CEO, Receives 10-Month Community Service Sentence and €183 Million Tax Repayment

Following a protracted legal battle, John Elkann, chairman of Stellantis, was sentenced to ten months of community service and ordered to repay €183 million in taxes related to his grandmother's estate, a case that has deeply divided the Agnelli family.

John Elkann, Stellantis CEO, Receives 10-Month Community Service Sentence and €183 Million Tax Repayment

Following a protracted legal battle, John Elkann, chairman of Stellantis, was sentenced to ten months of community service and ordered to repay €183 million in taxes related to his grandmother's estate, a case that has deeply divided the Agnelli family.

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How did the tax dispute arise, and what are its broader implications?

The dispute stemmed from the inheritance of Marella Caracciolo's billion-euro estate, handled through a Bahamian trust to avoid Italian inheritance tax. Italian authorities argued that Caracciolo's Swiss residency was fictitious, leading to the tax evasion accusations. This highlights complexities in international tax laws and challenges faced by wealthy families managing cross-border assets.

dw.com

🌐 85% Global Worthiness

Jul 25, 01:14

Cum-Cum Tax Schemes Cost Governments Over €140 Billion

Tax schemes known as "cum-ex" and "cum-cum" have cost Germany an estimated €29 billion between 2000 and 2020, with global losses exceeding €140 billion, due to a legal loophole that allows financial institutions to claim multiple tax refunds on dividend payments.

Cum-Cum Tax Schemes Cost Governments Over €140 Billion

Tax schemes known as "cum-ex" and "cum-cum" have cost Germany an estimated €29 billion between 2000 and 2020, with global losses exceeding €140 billion, due to a legal loophole that allows financial institutions to claim multiple tax refunds on dividend payments.

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How do "cum-cum" tax schemes exploit legal loopholes, and what specific legislative changes are proposed to address them?

The core issue is a legal loophole enabling "cum-cum" transactions, where the lending of shares for short periods around dividend payments allows for fraudulent tax reclaims. This loophole exists because share lending isn't taxed, unlike in countries where such transactions are impossible due to taxation of share lending. Experts advocate for closing this gap through legislative changes.

welt.de

🌐 85% Global Worthiness

Jul 23, 10:16

German Tax Authorities Investigate Influencer Tax Evasion

German tax authorities are investigating influencers for tax evasion, with an estimated €300 million in unpaid taxes in North Rhine-Westphalia alone; the complexity of the influencer business model and lack of experience among many influencers contribute to the problem.

German Tax Authorities Investigate Influencer Tax Evasion

German tax authorities are investigating influencers for tax evasion, with an estimated €300 million in unpaid taxes in North Rhine-Westphalia alone; the complexity of the influencer business model and lack of experience among many influencers contribute to the problem.

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What are the immediate consequences of the tax evasion investigations targeting influencers in Germany?

German tax authorities are cracking down on influencers, with one estimate suggesting potential tax evasion of €300 million in North Rhine-Westphalia alone. Investigations are underway, and some influencers have reportedly altered their travel plans due to these investigations.

elpais.com

🌐 75% Global Worthiness

Jul 19, 13:14

Andalusian PSOE Demands Explanations in Montoro Bribery Case

The PSOE in Andalusia demands explanations from President Moreno Bonilla about his former Finance Minister, Alberto García Valera's, alleged involvement in the Montoro case, a bribery scheme to alter laws, which came to light this week after a 2017 investigation. García Valera was appointed in Janua...

Andalusian PSOE Demands Explanations in Montoro Bribery Case

The PSOE in Andalusia demands explanations from President Moreno Bonilla about his former Finance Minister, Alberto García Valera's, alleged involvement in the Montoro case, a bribery scheme to alter laws, which came to light this week after a 2017 investigation. García Valera was appointed in Janua...

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What systemic issues within the Andalusian government or Spanish political system does this case expose, and what reforms are needed to prevent similar incidents in the future?

This case raises concerns about transparency and accountability within the Andalusian government. The delay in revealing the investigation and García Valera's subsequent employment with a consulting firm involved in the alleged scheme warrant further scrutiny. The potential for conflicts of interest and the implications for public trust require a thorough and transparent investigation.

welt.de

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Jul 15, 07:12

€300 Million Tax Fraud Investigation of German Influencers

German authorities are investigating approximately €300 million in suspected tax fraud by influencers in Nordrhein-Westfalen, using 6,000 data sets from social media platforms; the Landesamt zur Bekämpfung der Finanzkriminalität (LBF NRW) has initiated specialized investigative methods to track down...

€300 Million Tax Fraud Investigation of German Influencers

German authorities are investigating approximately €300 million in suspected tax fraud by influencers in Nordrhein-Westfalen, using 6,000 data sets from social media platforms; the Landesamt zur Bekämpfung der Finanzkriminalität (LBF NRW) has initiated specialized investigative methods to track down...

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What is the estimated amount of tax fraud committed by influencers in Nordrhein-Westfalen, and what measures are being taken to address this?

Influencers in Nordrhein-Westfalen, Germany, are suspected of defrauding the tax office of approximately €300 million. The Landesamt zur Bekämpfung der Finanzkriminalität (LBF NRW) is investigating 6,000 data sets from several social media platforms. This is the first state agency of its kind in Germany, and it has formed a specialized team to address this issue.

elpais.com

🌐 85% Global Worthiness

Jul 8, 22:10

Spanish Tax Advisor Sentenced to 80 Years, Prosecutor Seeks Immediate Imprisonment

Fernando Peña, owner of Nummaria, was sentenced to 80 years in prison for creating an offshore tax evasion scheme for his firm and clients, including actors Imanol Arias and Ana Duato; the Anti-Corruption Prosecutor's Office seeks his immediate imprisonment.

Spanish Tax Advisor Sentenced to 80 Years, Prosecutor Seeks Immediate Imprisonment

Fernando Peña, owner of Nummaria, was sentenced to 80 years in prison for creating an offshore tax evasion scheme for his firm and clients, including actors Imanol Arias and Ana Duato; the Anti-Corruption Prosecutor's Office seeks his immediate imprisonment.

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What are the immediate consequences of the 80-year prison sentence handed down to Fernando Peña, and what is the global significance of this ruling?

Fernando Peña, owner of Nummaria, a tax and legal advisory firm, has been sentenced to 80 years in prison for creating a corporate structure to evade taxes. The Spanish Fiscalía Anticorrupción (Anti-Corruption Prosecutor's Office) has requested his immediate imprisonment, arguing the sentence should be served without delay. A hearing has been scheduled to determine whether he will be incarcerated.",

Showing 1 to 12 of 72 results