Internal Revenue Commission is now in partnership with an international auditing organisation to help tackle multinationals that are avoiding paying taxes, Deputy Prime Minister and Treasurer Charles Abel, pictured, says. He said that Organisation for Economic Cooperation and Development (OECD), under its ‘tax inspectors without borders’ programme, would help IRC… – Continue reading
We have on several occasions fingered Panama as a particularly recalcitrant secrecy jurisdiction: our recent Panama Narrative Report spills a fair number of beans in that respect. Its recalcitrance is perhaps hardly surprising, given the quantity of Colombian and Mexican drugs money believed to be sheltered there – to name… – Continue reading
Foreign Affairs Minister Julie Bishop has promised that Australia will not be “a safe haven for the proceeds of corruption” in Papua New Guinea, as police in both countries probe the role of Australian lawyers there. Ms Bishop’s intervention and the police probes were triggered by explosive video footage that… – Continue reading
Papua New Guinea’s central bank has moved to stop offshore foreign banks, which don’t operate in PNG, trading in the Kina.From this month, people and companies wanting to trade in Kina and foreign currencies will only be able to use one of six authorised dealers. Since July last year, after… – Continue reading
December 1: The Inland Revenue last week released its annual compliance guide for taxpayers and reports on progress with respect to the OECD’s base erosion and profit shifting (BEPS) work and time frames, for New Zealand consultation on possible domestic law changes to address BEPS concerns. The 2014/15 compliance guide… – Continue reading
A contingent of so-called “corrupt clients” from Canada have been caught in the net of a massive fraud investigation by the FBI and the U.S. Attorney, a source close to the investigation told CBC. CBC News reported Wednesday that two Canadians, along with four others, were indicted in the U.S…. – Continue reading
February 17 — New Zealand Revenue Minister Todd McClay on February 10 announced that the agreement for the avoidance of double taxation between New Zealand and Papua New Guinea entered into force on January 21, 2014. The two countries signed the tax treaty on October 29, 2012 (216 International Tax… – Continue reading
