Tax evasion Financial News

22.08 / 13:11

Tax Assets tax evasion New Report Suggests About 8,000 Korean Residents May Lose Digital Assets Over Tax Evasion

Financial regulators in the South Korean city of Cheongju are set to confiscate digital assets from local tax evaders.

14.08 / 01:29

COST Action track cover audience Department tax evasion Probe on insurers over, Income Tax department finds alleged tax evasion of Rs 15,000 cr

insurance companies and uncovered evasion of more than ₹15,000 crore, said people with knowledge of the matter. The tax on this will be about ₹4,500 crore, they said. The probe, which covered more than 25 insurers and over 250 businesses used to route commissions to agents, was conducted by the department's investigation wing.

07.08 / 10:57

Provident fiu tax evasion FIU-Director to share suspicious transaction data with GSTN to curb tax evasion: MoS Finance

Financial Intelligence Unit (FIU) will send reports, including that of suspicious and high-value cash transactions, to GST Network (GSTN) if there is a case of GST evasion. Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha Prevention of Money Laundering Act (PMLA) aims to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering.

02.08 / 07:09

Reuters Manufacturing country tax evasion China's EV giant BYD under scanner for alleged tax evasion in India on imported car parts

Warren Buffet-backed chinese automaker BYD is currently under investigation in India due to allegations of underpaid taxes on imported parts used in the assembly and sale of its cars in the country, as reported by two sources familiar with the matter. As reported by news agency Reuters, India's Directorate of Revenue Intelligence (DRI) claims that BYD failed to pay 730 million rupees ($9 million) in taxes. Despite BYD depositing this amount following the DRI's preliminary findings, the investigation is still ongoing, and there may be further tax charges and penalties, it said.

29.03 / 12:37

tax evasion Senate report says Credit Suisse failed to report bank transfers tied to tax evasion

WASHINGTON— Credit Suisse violated the terms of a 2014 criminal plea agreement in which it promised to stop helping Americans hide assets from the US tax authorities, according to a Senate report released on 29 March.

06.03 / 19:13

NFT NFTS Non-fungible tokens Tax Tax Authority tax evasion Israel's Tax Authority Probes NFT Creators Over Alleged Tax Evasion

Israel Tax Authority has arrested two NFT creators for charges of tax evasion and money laundering after allegedly failing to report $2.2 million in sales throughout 2021.

03.03 / 14:15

UPS Citi Citizens CEO MicroStrategy tax evasion Billionaire Michael Saylor's Request to Dismiss Tax Evasion Charges Rejected by Judge – Here's the Latest

A major tax avoidance lawsuit brought against former MicroStrategy CEO Michael Saylor has suffered a big blow. As Judge Yvonne Williams dismisses part of the case as false claims.

02.03 / 22:53

Law regulation MicroStrategy Taxes tax evasion Michael Saylor is still on the hook for alleged tax evasion, says MicroStrategy filing

The Office of the Attorney General for the District of Columbia in the United States is moving forward on a lawsuit against business intelligence firm MicroStrategy executive chair Michael Saylor related to tax evasion.

11.10 / 06:31

cryptocurrency crypto tax Framework International tax evasion OECD issues framework to combat international tax evasion using digital assets

The Organization for Economic Co-operation and Development (OECD) released Crypto-Asset Reporting Framework (CARF) on October 11 designed to help tax authorities achieve greater visibility on crypto transactions and the users behind them.

31.08 / 21:45

Law regulation Bitcoin tax evasion DC Attorney General sues Michael Saylor and MicroStrategy for tax evasion

Karl Racine, Attorney General for the District of Columbia in the United States, has announced that his office will be suing business intelligence firm MicroStrategy and its co-founder Michael Saylor for charges related to tax evasion.

17.08 / 20:19

Sport economics Legal Bitcoin Lawyers Unstoppable Domains tax evasion Do Kwon Reportedly Lawyers Up, Colombia May Fight Tax Evasion with Digital Currency, Unstoppable Domains Lunches App + More News

17.08 / 13:09

Government Central Bank Taxes National tax evasion Colombia to prevent tax evasion with national digital currency: Report

Amid Colombia’s economic growth beat expectations in the second quarter, an official at the country’s tax and customs agency has hinted at some national digital currency plans.

19.05 / 11:47

regulation Terra tax evasion South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion

Terraform Labs and co-founder Do Kwon continue to attract more legal trouble in the wake of the collapse of the Terra ecosystem. After early reports of a possible congressional hearing and an investigation from 'Grim Reapers' financial crimes unit, the crypto firm has now come under the radar of the national tax agency.

28.03 / 12:02

business cryptocurrency economy Centre tax evasion Centre reveals action against 11 crypto exchanges for tax evasion, Rs 95.86 crore recovered

Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha on March 28, said that the government had initiated action against 11 cryptocurrency exchanges in India for tax evasions worth a total Rs 81.54 crore.

02.02 / 13:32

Government Adoption Gemini Bitcoin tax evasion Colombia clamps down on crypto tax evasion as adoption thrives

Down in Bogotá, cryptocurrency adoption is raging on. Colombia’s tax authority, the DIAN, (Dirección de Impuestos y Aduanas Nacionales de Colombia) has begun to catch up. It seeks to take “special measures” to crack the whip on cryptocurrency tax avoiders.

01.01 / 13:41

cryptocurrency Crypto Exchange tax evasion DGGI detects Rs 70-crore tax evasion after crackdown on crypto exchanges

After the massive tax evasion by WazirX, one of the largest cryptocurrency exchanges in India, came to the fore, the Directorate General of GST Intelligence (DGGI) cracked down on crypto exchanges across the country, news agency ANI reported quoting sources.

13.12 / 17:17

UBS Fine tax evasion UBS fine for tax evasion slashed by nearly half to $2bn

A French appeals court ordered UBS Group on 13 December to pay around $2bn for helping wealthy clients in France evade taxes, reducing the size of an earlier penalty of around $5bn.

25.11 / 14:41

Blockchain UPS IPO tax evasion Cryptocurrency ban in India will lead to more unlawful usage, complete tax evasion, says BACC

IAMAI’s Blockchain and Crypto Assets Council (BACC) has said that a blanket ban on cryptocurrencies in the country will encourage non-state players, thereby leading to more unlawful usage of such currencies.

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