HM Revenue and Customs (HMRC) is reviewing the selling activity of thousands of online sellers who use websites such as Amazon, Etsy and eBay to earn a living, as part of a fresh crack down on tax evasion. According to The Telegraph, these websites are being forced to hand over… – Continue reading
(Bloomberg) — Luxembourg’s status as a fortress of wealth in the heart of Europe is in peril. The country transformed itself from a rural economy into the European Union’s richest in less than a century by swapping fields and steel mills for hedge funds and multinationals. That model may now… – Continue reading
A Sunday Mirror investigation has found Apple, Facebook, Amazon, Google, Ebay and Starbucks has paid less than one per cent tax Six of the world’s biggest companies paid just 0.3 per cent of their UK earnings in corporation tax last year, a Sunday Mirror probe has found. We have examined… – Continue reading
Companies based in the United States now have over $2.1 trillion stashed overseas shielded from U.S. taxes. That’s a sixfold increase in 12 years, NBC News reported citing research provided by Capital Economics. Generally, the U.S. tax policy allows companies based in the country to defer any tax obligation on… – Continue reading
eBay accused of tax avoidance, but insists it complies with letter of the law By Emma Woollacott, Sep 29, 2014Updated: September 30, 2014 7:24 AM Online auction site eBay got away with paying just £620,000 in tax on sales of over £1.3 billion last year, its latest accounts reveal. The… – Continue reading
Twitter is the latest major internet multinational to have opened up a Spanish subsidiary. But the popular micro-blogging site has followed in the footsteps of Google, Apple, Facebook and Linkedin, all of whom keep their Spanish corporate taxes down to the bare minimum by shifting their income to Ireland. Created… – Continue reading
Yahoo! Inc is shifting its main European tax base to Ireland from Switzerland, a Reuters examination of company statements and accounts shows, as pressure mounts on the Alpine nation to abolish some corporate tax incentives. The internet search group said the shift reflected a streamlining of its European operations and… – Continue reading
