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Like the UK, France and Germany is putting pressure on Switzerland to hand over information on untaxed assets. Other countries are also trying to obtain information regarding suspected tax evasion. India is also looking into the situation of Indian nationals who have failed to pay tax. India has managed…


According to Regulation (EC) No 1889/2005 of the European Parliament bringing more than €10,000 in cash to the EU without declaring it is illegal. This regulation is in place to stop money laundering and terrorist financing. The regulation places an obligation on any natural person entering or leaving…


The UK government believes that about €25bn of untaxed assets of UK taxpayers are hidden in Swiss banks. The amount is nearly 10 times less than German taxpayers are hiding in the Swiss banks but the UK government is adamant to bring tax revenue to the UK. Like the German government, the UK government…


The German upper house of parliament has declined a deal on German tax evaders holding assets in Swiss banks. German parliamentarians are considering that the current terms and conditions of the deal are not strict enough to penalise the German tax evaders whose estimated hidden assets are about €200bn. Under…


Facebook's accounts were scrutinized along with their tax planning scheme when the use of an offshore company in Cayman Islands was identified. Facebook has used the so-called "Double Irish" scheme. The tax scheme was built around royalty payments from a UK company to an Irish company which in turn paid…


Spain raises environmental taxes to meet EU fiscal requirements

As per the new fiscal regulations set out by the EU, Spain has released plans to implement new environmental taxes in an attempt to meets its budgetary obligations. This will form a crucial part of the governments’ revised 2017 Spanish Budget.