Almost 1,200 people were prosecuted and convicted for tax and superannuation offences in Australia last year, new figures show. The statistics were released by Tax Commissioner Michael D'Ascenzo, who said that: “The ATO's use of sophisticated data matching technology is helping to close the net around those exploiting the tax and super systems.” In total,…
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Strong Demand For BVI Structures
The British Virgin Islands office of leading international offshore law firm Ogier has noted that its involvement in a number of global transactions over recent months is reflective of the strong demand of late for BVI-based corporate structures. Recent high-profile transactions involving BVI structures have included: Canadian-based financial institution Scotiabank’s USD1bn acquisition of a 51%…
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Italy's New Weapon In War On Tax Evasion
The Italian Revenue Agency’s Director, Attilio Befera, has announced that its new, revamped ‘redditometro’ – the computer data system which compares taxpayers’ income declarations with their spending habits – is now expected to be fully operational by June this year.Befera has already pointed out that the Agency’s new ability to crosscheck taxpayers’ spending against declared…
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Owe The IRS? TaxMasters Bankruptcy Shows Why Not To Get Help From TV Pitchmen !
If you’ve got problems paying the Internal Revenue Service, don’t look for help from the ads on late night cable television. That’s one of the lessons from an SEC filing Friday by TaxMasters Inc., disclosing the publicly-traded company will file for voluntary bankruptcy. As ABC reported last April, even after Houston-based TaxMasters had been accused…
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