71 Matching Annotations
  1. Jul 2019
    1. A GAAR reassessment upheld, primarily on the basis that the Tax Court judge was correct to look at one of the steps in the series of transactions on an objective basis and ask if the permissible objective of creditor protection could have been achieved without it, without which it was open to him to find that its primary purpose was to achieve the tax benefit.

    2. It seems to me that in considering the purpose of a subset of the entire series of transactions, Justice Paris had in mind the correct test. As this Court said in MacKay v. Canada, 2008 FCA 105 (CanLII) at paragraph 25: The existence of a bona fide non-tax purpose for a series of transactions does not exclude the possibility that the primary purpose of one or more transactions within the series is to obtain a tax benefit.

      Existence of a bona fide non-tax purpose for a series of transactions does not exclude possibility that the primary purpose of one of the transactions in the series is to obtain a tax benefit.

  2. Apr 2019
    1. April 15, the day when you pay your taxes, gives you a good index of how democracy is functioning. If democracy were functioning effectively, April 15 would be a day of celebration. That’s a day on which we get together to contribute to implementing the policies that we’ve decided on. That’s what April 15 ought to be. Here it’s a day of mourning. This alien force is coming to steal your hard-earned money from you. That indicates an extreme contempt for democracy. And it’s natural that a business-run society and doctrinal system should try to inculcate that belief.
    1. the legislation all but ensures that paying taxes remains a giant, expensive pain in the ass for most workers and insulates Intuit, which runs TurboTax, and H&R Block from the potential harmful effects of competent governance to their bottom line.

      Not sure how accurate this characterization is, but it does seem that Intuit has been lobbying to keep things less than straightforward for taxpayers for some time. Unfortunate. https://www.latimes.com/business/hiltzik/la-fi-mh-these-taxprep-companies-lobby-hard-to-keep-tax-day-a-torture-for-you-20150414-column.html https://en.wikipedia.org/wiki/TurboTax (see controversies)

  3. Mar 2019
    1. PwC is one of the most powerful companies in the world, especially when it's in lockstep with the other three big global consulting and auditing firms, KPMG, EY (formerly known as Ernst & Young) and Deloitte. Known together as the "Big Four," this quartet of companies generally flies under the radar of public awareness.
  4. Feb 2019
    1. The opposition of suburban whites to the welfare state (“entitlements”), beginning with the 1970s tax revolts (Burton rails at having to pay high school taxes and then see his son be forced to go to school in the inner city, and against “welfare freeloaders”), only intensified as the “hard-working” (white) “common man” in his orderly suburban family saw the New Deal dream evaporate. Burton declared in 1974: “I wanted to be somebody”, and in the economic environment symbolized by the oil price shock of that year, his identity became more and more at odds with the desire of the excluded in US society to also “be somebody”. By 1976, Burton had abandoned the Democratic party and the New Deal ethos, seeing in Ronald Reagan someone who could “deliver the nation out of its malaise”, with a reprise of Wallace’s “freshness, independence, backbone and scrappy spirit”. This is not a new story. It is rather a reflection of US history as a whole, where a frontier-spirit, classless liberalism is organically bound up with anti-democratic exclusion and an ethic of private responsibility. It is but one facet of American racialized, gendered neoliberalism.
  5. Nov 2018
    1. All of this also has to be weighed against the additional money Walmart will get from the tax cuts. According to what a senior fellow at the Institute on Taxation and Economic Policy told the New York Times, Walmart could easily save $2.2 billion a year from the tax cuts. The company says that the wage increases and bonuses would run $700 million.

      2200000000 - 700000000 = 1500000000 tax bonus after wage increases and bonuses

  6. Sep 2018
  7. Jun 2018
    1. http://cookislandsnews.com/national/local/item/13335-brown-back-for-documentary/13335-brown-back-for-documentary

      Working for CBC?

      No. I was not "working for" CBC, the Canadian Broadcasting Corporation. I was funded by CBC to fly back from New Zealand to Rarotonga as a public source for a CBC story. On offshore banking, and the background to offshore banking in the Cook Islands.

      My impression? They needed a local "talking head" to illustrate their story, safely. Having gained footage of what they were interested in, the CBC reporter leading the story has rejected my own story about offshore banking.

      Good enough to be a CBC headline source, but not good enough to be a CBC investigative source.

  8. Oct 2017
    1. A Pew Research Center analysis of IRS data from 2015, the most recent available, shows that taxpayers with incomes of $200,000 or more paid well over half (58.8%) of federal income taxes,

      This data is "old". This also show how much leverage those tax payers have, their income tax can pay one or more teachers.

    1. ate graced them with honors and privileges, not least of them an exemption from taxe
    2. e great tax farmers established hereditary rights over dozens of villages, in which they acted as virtual landlords and patrons. In addition to collecting taxes from the peasants they took care of various administrative tasks, mediated local disputes, and lent money on a large scale. Large stocks of food came into their possession as tax payments, giving them a highly profitable control over the grain supply to the city.
    3. The most lucrative and influential government positions involved tax collection.
  9. Jun 2017
    1. The Belgian newspaper Le Soir, Spain's El Mundo, L'Espresso of Italy and the French online site Mediapart are members of European Investigative Collaboration (EIC), a cooperative initiative in investigative journalism.

      Here is the exact list of media outlets involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Treize médias européens commencent à publier une enquête sur les activités de paradis fiscal de Malte, qui préside actuellement l'Union européenne. En France, en Allemagne ou en Italie, ces médias pointent du doigt des politiques, des financiers, des représentants du milieu du spectacle et des entreprises prestigieuses.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Ultimately they may have deprived the state of nearly €32bn (£28bn; $36bn). As the German broadcaster ARD wryly noted, that would have paid for repairs to a lot of schools and bridges.

      Interested in more tax scandals in Europe? The #MaltaFiles uncovered how companies and rich individuals throughout Europe wire their money through the small Island Malta for saving taxes in their home countries. Find more information here: https://eic.network/projects/malta-files

    1. How bankers, consultants, and lawyers have been plundering the German state for decades. And who tracked them down and exposed them.

      Interested in more tax scandals in Europe? The #MaltaFiles uncovered how companies and rich individuals throughout Europe wire their money through the small Island Malta for saving taxes in their home countries. Find more information here: https://eic.network/projects/malta-files

    1. Deutsche Konzerne sollen mithilfe von Tochterfirmen auf Malta ihre Steuerlast in Deutschland drücken. Das berichtet der Spiegel unter Berufung auf Tausende Dokumente, die dem europäischen Recherchenetzwerk EIC zugespielt wurden. Die sogenannten Malta Files gäben Aufschluss über zahlreiche Firmeninhaber auf Malta. Unter ihnen seien aktuell oder in der Vergangenheit Dax-Konzerne wie BMW, BASF, Deutsche Bank, Puma und Merck. 

      Mehr Informationen über #MaltaFiles und weitere Projekte des EICnetwork gibt es hier: https://eic.network/projects/malta-files

    1. Zahlreiche Konzerne, darunter auch aus Deutschland, nutzen in großem Stil Tochterfirmen auf Malta, um ihre Steuern in ihrer Heimat zu drücken. Das geht aus tausenden Dokumenten hervor, die der "Spiegel" gemeinsam mit seinen zwölf Partnern vom Recherchenetzwerk European Investigative Collaboration (EIC) ausgewertet hat. Diese begannen am Freitag mit der Veröffentlichung ihrer Auswertung. Dem EIC waren in den vergangenen Monaten zwei Datensätze, die sogenannten Malta Files, zugespielt worden. Die Papiere erlauben laut "Spiegel" einen tiefen Einblick in das maltesische System von Firmengründungen und legen die Inhaber dortiger Firmen offen.

      Mehr Informationen über #MaltaFiles und weitere Projekte des EICnetwork gibt es hier: https://eic.network/projects/malta-files

    1. 13 testate giornalistiche, raggruppate nella rete dei media European Investigative Collaborations (EIC), hanno iniziato a pubblicare i “Malta Files”, decine di migliaia di documenti confidenziali che rivelano i retroscena di un paradiso fiscale di cui si parla poco.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. De familie van de Turkse president Recep Tayyip Erdogan heeft in 2008 zonder te betalen een olietanker verkregen ter waarde van 20 miljoen dollar. Dat blijkt uit onderzoek van journalistennetwerk EIC (European Investigative Collaborations).

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. he consortium of media included German weekly Der Spiegel, Belgian daily Le Soir, and Spain's El Mundo, as well as online-only media such as Mediapart in France and The Black Sea.

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

    2. Maltese politicians defended the country's tax regime over the weekend, after an international group of media outlets began publishing stories about the so-called Malta Files. The EU’s smallest nation came under new public scrutiny on Friday (19 May) when a journalists’ network called the European Investigative Collaborations (EIC) published the Malta Files.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. The Commission had no comment on pan-European media investigation into Malta’s tax system.

      This pan-European media investigation is referred to as #MaltaFiles, a project of the European Investigative Collaboration short EICnetwork. Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Ces documents illustrent comment l’île méditerranéenne attire les entreprises avec sa fiscalité minimaliste et comment son régime de sociétés offshore permet de blanchir l’argent sale.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Après les Panama Papers, les Mata Files. Treize journaux européens, dont le site d’investigation Mediapart, membres du réseau European Investigate Collaborations (EIC), ont publié, vendredi 19 mai, des documents révélant des pratiques d'évasion et d'optimisation fiscale à Malte, pays par ailleurs président de l’Union européenne jusqu’au 30 juin.

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Le réseau de journalistes d’investigations EIC (European Investigative Collaborations) dont Mediapart est le membre français, viennent de commencer à publier les Malta Files (« dossiers Malte »).

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Treize journaux, regroupés au sein du réseau de médias European Investigative Collaborations (EIC), ont commencé à publier vendredi les "Malta Files", promettant de révéler les "coulisses de ce paradis fiscal méconnu", a annoncé le site français Mediapart.

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Le site Mediapart et douze autres médias internationaux du réseau d’investigation European Investigative Collaboration (EIC) publient, vendredi 19 mai, des révélations sur les pratiques fiscales de Malte. Les « Malta Files » sont constitués, détaille Mediapart, de deux ensembles de documents :

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Algunos de los personajes más ricos de España ‘custodian’ hasta 900 millones de euros en el ‘paraíso fiscal’ de Malta, según desvela El Mundo a partir de los denominados ‘Malta Files’.

      Malta Files' es el trabajo que sigue a Football Leaks, la investigación de la red de periodismo de investigación EIC que en diciembre del año pasado desveló la cara oculta de personajes del fútbol mundial como José Mourinho, Jorge Mendes o Cristiano Ronaldo. Encuentren más informacion acá: http://www.elmundo.es/economia/malta-files/2017/05/20/5920291b22601d6c678b45cf.html

      o acá: https://eic.network/projects/malta-files

    1. La pequeña isla mediterránea miembro de la Unión Europea es un paraíso desconocido de "la evasión fiscal y la corrupción", según la información divulgada por el diario El Mundo y la red de medios European Investigative Collaborations (EIC) y conocida como Malta Files.

      Para más información sobre MaltaFiles y otros projectos de EICnetwork visiten: https://eic.network/projects/malta-files

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Anche in Spagna cominciano a trapelare dai cosiddetti Malta-files i primi nomi di Vip (imprenditori, nobili, personaggi dello sport, come Per Guardiola, fratello dell’allenatore del Manchester City) che, secondo il quotidiano El Mundo, deterrebbero su conti offshore nell’isola del Mediterraneo un patrimonio di almeno 900 milioni di euro.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/projects/malta-files

    1. Os documentos foram analisados pelo consórcio EIC (European Investigative Collaborations), do qual o Expresso e outros jornais internacionais fazem parte.

      Here is the exact list of the media organizations involved: L'Espresso, Le Soir, NRC, DER SPIEGEL, The Romanian Centre for Investigative Journalism / TheBlackSea.eu, Mediapart, Politiken, NewsWeek Serbia, El Mundo, Expresso, Dagens Nyheter, Malta Today, The Intercept and Agência Sportlight.

      Learn more about MaltaFiles and projects of the EICnetwork here: https://eic.network/

  10. May 2017
  11. Jan 2017
    1. Income for services performed outside the United States is foreign-source and not subject to U.S. tax for a nonresident alien, even if paid by a U.S. employer or payer.
    2. If the recipient is a nonresident alien and the compensation payment is U.S.-source income, you must withhold 30 percent (called “NRA withholding”) unless an exception applies.
    1. If you are providing this Form W-8BEN to document yourself with respect to a financial account that you hold with a U.S. office of a financial institution, provide your date of birth.

      Seems to indicate that birthdate is optional if you don’t have a US account.

  12. Jun 2016
    1. The warning came in the wake of a Justice Department investigation of the role that certain Swiss banks had played in helping United States citizens evade federal taxes.

      I am surprised the New York Times did not mention the IRS Voluntary Disclosure Program for Offshore Assets. According to the IRS, "voluntary programs have resulted in more than 45,000 voluntary disclosures from individuals who have paid about $6.5 billion in back taxes, interest and penalties." (See IRS June 6, 2014 Press Release available here

      There is a good chance that some of the tax-payers tax structures analyzed in preparation for this article came into compliance through it. To make matters worse, the NY Times reported on it numerous times since its first incineration in 2009— with the latest Jan. 10 2012 on page B6, available at — which only makes this passing mention of investigations by the Department of the Treasury that much more disappointing.

  13. Apr 2016
    1. By valuing capital gains above all others, we end up extracting the value of our marketplaces and rendering them incapable of generating economic activity. As a Deloitte study showed, corporate profits over net worth have been decreasing for 75 years. Corporations are great at accumulating capital, but terrible at deploying it. They vacuum the money off the playing field altogether, impoverishing the markets and consumers–not to mention the employees–on whom they ultimately depend.
  14. Dec 2015
    1. Australian Tax Office transparency report.

      The data contains the total income, taxable income and tax payable of more than 1,500 public and foreign private entities for the 2013-14 income year. The companies each have a total income of $100 million or more. Cells containing a dash (-) represent "an amount of zero or less". The report only contains individual companies, not groups of companies.