Tax Treaty News
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In early November, members of the U.K. Parliament assailed executives from Google Inc., Starbucks Corp. and Amazon.com Inc. for moving billions of dollars in profits into tax havens.
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The strong Australian dollar gave an “unprecedented whack” to tax revenue the government needed to return the nation’s budget to surplus, Treasurer Wayne Swan said.
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Chancellor Angela Merkel expressed her disappointment at Uli Hoeness, the president of Bayern Munich soccer team, as Germany’s opposition seized on a probe into allegations that he evaded taxes.
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Nokia Oyj, the Finnish mobile-phone maker struggling with falling sales and mounting losses at its handset unit, said the Delhi High Court granted an interim stay on an Indian claim of unpaid taxes.
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Senator Rand Paul is blocking an amendment to a U.S.-Swiss tax treaty, slowing Switzerland’s handover of data on thousands of Americans with bank accounts hidden from the U.S. Internal Revenue Service.
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Indian Finance Minister P. Chidambaram, struggling to rein in a budget deficit, tightened rules for overseas investors seeking to benefit from treaties with Singapore, Mauritius and Cyprus to avoid double taxation.
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India dumped a proposal to tighten rules for overseas investors seeking to benefit from double taxation treaties after money managers said the change was too onerous and foreign funds sold the most shares in a year.
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Sergio Garcia, the professional golfer, must pay additional taxes on income from endorsements that he claimed was exempt, the U.S. Tax Court ruled, because too much of the money was attributed to payment for his image.
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Senator Rand Paul is blocking an amendment to a U.S.-Swiss tax treaty, slowing Switzerland’s handover of data on thousands of Americans with bank accounts hidden from the U.S. Internal Revenue Service.
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Germany’s upper house will ratify a tax treaty with Switzerland, UBS AG Chairman Axel Weber told Swiss newspaper NZZ am Sonntag in an interview published today.
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