U.S. companies that temporarily station workers in Canada are finding it hard to avoid that nation’s withholding tax, and delays in obtaining waivers from it may be hurting the Canadian economy, tax preparers say.
Research firm Muddy Waters LLC was correct to focus on NQ Mobile Inc.’s delays in collecting customers’ payments as part of an 81-page report that labeled the Beijing-based mobile service provider a “massive fraud,” according to three accounting experts.
Deloitte & Touche LLP settled lawsuits by Taylor, Bean & Whitaker Mortgage Corp.’s bankruptcy trustee and Deutsche Bank AG over $7.6 billion in losses associated with the collapse of the mortgage lender.
Deloitte & Touche LLP won dismissal of a lawsuit filed by an Iowa pension fund over the auditing of WG Trading Co., a company that U.S. prosecutors said was used as a Ponzi scheme by two of its former managers.
Deloitte & Touche LLP, one of the so-called Big Four accounting firms, was sued by a pension fund over WG Trading Co., the company allegedly used in a Ponzi scheme by former managers Paul Greenwood and Steven Walsh.
Gibraltar, the 300-year-old U.K. territory near the southern tip of Spain, is attracting hedge funds by offering low tax rates and regulation that enables managers to market investments across the European Union.