Articles about taxes

Trump

Trump's tax tease will be a massive payday for Valley tech giants and their shareholders

US President Donald Trump has vowed to cut corporations some slack in the form of a tax break that may give Silicon Valley something to celebrate. America taxes businesses' overseas money at 35 per cent when funds are repatriated to the States, so most technology firms don't bother to transfer their mountains of dosh and leave …
Iain Thomson, 28 Sep 2017
Jakarta skyline

Jakarta be kidding me! Google gets $400m tax bill from Indonesia

Google is facing a bill for hundreds of millions of dollars in unpaid taxes. An official in Indonesia wants to collect around $400m in fees from the Mountain View ads giant. Muhammad Hanif of the tax office special cases branch said authorities have visited Google and suspect that the tax avoidance may go back as far as five …
Shaun Nichols, 20 Sep 2016
TOkyo

Apple's tax bill: Big in Japan. Like, $120m big

Apple has again been hit with a relatively small bill for skirting tax laws, this time in Japan. A report from national broadcaster NHK World claims that the Tokyo Regional Taxation Bureau has told Apple to cough up $120m (12.3bn Yen) to cover back taxes that the Cupertino giant failed to pay. The report notes that Apple has …
Shaun Nichols, 16 Sep 2016
People whispering

US Congress blew the whistle on tax-dodging Apple, claims Europe

It was US Senators that tipped off the European Commission to unusual accounting practices at Apple which lead to its €13bn ($14.5bn) back-tax penalty. That's according to EC Competition Commissioner Margrethe Vestager who told the Copenhagen Business School her team was pointed to potential illegal tax breaks in Ireland by …
Shaun Nichols, 9 Sep 2016

Europe to order Apple to cough up 'one beeellion Euros in back taxes'

The European Commission (EC) will demand an additional €1bn ($1.12bn) from Apple in back taxes, according to Reuters. Back in 2014, the EC took issue with Ireland's tax arrangement with the electronics giant – Apple's European headquarters is in Dublin – and accused it of effectively allowing Apple to shelter tens of billions …
Kieren McCarthy, 29 Aug 2016

Couple in the cooler for sucking $1m out of Uncle Sam via IRS 'Get Transcript' scam

Two people have been jailed for their involvement in a scam that exploited the US IRS "Get Transcript" website to defraud the American government. A couple from Austell, Georgia, laundered more than $1m as part of a larger swindle that abused weaknesses in the taxmen's website to get the personal data needed to file fraudulent …
Shaun Nichols, 27 Jul 2016

Eight-billion-dollar Irish tax bill looms over Apple

An upcoming European Commission ruling on tax laws could result in Apple having to pay as much as $8bn (€7.33bn, £5.6bn) in back taxes. This according to Matt Larsen, an analyst at Bloomberg Intelligence who expects the Cupertino maker of iStuffs will be found to have incorrectly reported its financial figures in Ireland and, …
Shaun Nichols, 15 Jan 2016

US House okays making internet tax exemptions permanent

The US House of Representatives has approved a bill that will permanently bar states from collecting taxes on internet sales. The House on Friday gave its approval for HR 644, a trade bill that has been amended to include a permanent renewal of the Internet Tax Freedom Act. Part of the Trade Facilitation and Enforcement Act of …
Shaun Nichols, 11 Dec 2015
HMRC photo, Gov.uk

Just WHO is hiring a 'Cloud Transformation Director' for £162,000? Actually YOU are

HMRC is advertising for a "cloud transformation director" at a salary of up to £162,000 per year, as part of a bid to claw its IT back from Capgemini. The government is looking at ways to wriggle out of its mega £10.7bn Aspire contract with Capgemini by 2017, which underpins its collection of £500bn in tax each year. Around …
Kat Hall, 8 Sep 2015
Cash in brown paper envelope CC 2.0 attribution StockMonkeys.com

IRS: Tax-record snaffle scam actually 200% worse than first feared

The US Internal Revenue Service (IRS) admitted Monday that the May scam in which criminals tried to use stolen data on more than 114,000 people to collect tax information was far larger than it originally thought. Uncle Sam's taxman now claims that on top of the 100,000 or so people whose data had been used to collect tax …
Shaun Nichols, 17 Aug 2015
hacker

Bloke thrown in the clink for hacking SIXTY PER CENT of Americans

A Vietnamese crook has started a 13-year stretch behind bars for hacking into corporate America, and offering to sell personal information on 200 million US citizens. Hieu Minh Ngo, 25, pleaded guilty to wire fraud, identity fraud, and access device fraud charges, and four counts of computer fraud and abuse. Judge Paul J. …
Shaun Nichols, 16 Jul 2015
hacker

THE TRUTH: IRS 'cyber-hack' exposes 100,000 people whose identities were already stolen

The US Internal Revenue Service said on Tuesday that info including tax returns and income forms for some 100,000 people were illegally accessed this year. The US tax agency believes a group collected a trove of information on the victims and then used that data to fill out the authentication forms for the IRS's online "Get …
Shaun Nichols, 26 May 2015

America was founded on a dislike of taxes, so how did it get the IRS?

The eXpat files Welcome again to the eXpat files, our now-occasional visit with readers who've moved to a new land in search of adventure, sunshine and, in the case of this week's chap, bewildering and labyrinthine tax and credit regulations. The chap in question is David Hough, currently resident in Newark, California (not New Jersey). David …
Simon Sharwood, 19 Apr 2015

The secret of Warren Buffett's success at Berkshire Hathaway

Worstall @ the Weekend We've just had the 50th anniversary of Warren Buffett and Charlie Munger taking over Berkshire Hathaway and that means we've also just had their 50th letter to shareholders. And this is the point where we try to puzzle over just how two guys managed to make so many hundreds of billions (if we include their own holdings and those …
Tim Worstall, 8 Mar 2015
Crop of doctor with pen and clipboard

Ready to fill out your US taxes? Cool. Got ObamaCare? Not so fast

Staff behind the US government's HealthCare.gov say Americans may have received bungled tax forms from the portal – and should hold off filing them. The health insurance broker on Friday confirmed that it would have to send out new 1095-A claim forms after approximately 800,000 people received incorrectly calculated forms …
Shaun Nichols, 20 Feb 2015
Bank vault

Intuit halts TurboTax filings after states spot mass tax fraud scheme

Accounting software maker Intuit has temporarily suspended the ability of its TurboTax software to electronically file US state income tax returns following reports of widespread suspicious activity. "During this tax season, Intuit and some states have seen an increase in suspicious filings and attempts by criminals to use …

Piketty-Poketty-Poo: Some people are JUST ITCHING to up tax to capital ...

Worstall @ the Weekend I'll cop to being a bear of little brain, for it can take me a long time to spot what should be obvious. And so it is with my taking so long to work out what's really going on with Capital in the Twenty-First Century author Thomas Piketty and all that wealth inequality stuff. I believe his book is essentially a political …
Tim Worstall, 2 Nov 2014

Pay a tax on every gigabyte you download? Haha, that's too funny. But not to Hungarians

Hungary is threatening to tax its broadband providers for every gigabyte their subscribers use. The Fidesz-run European nation said that it would charge ISPs 150 forints (around 60 US cents or 39p in the UK) for each gig transferred. Hungary shifted 1,150PB in 2013, and 18PB in mobile data, according to figures from …
Shaun Nichols, 22 Oct 2014

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