Indian tax authorities are beginning a series of new investigations to uncover evidence of tax evasion committed by over 100 different Indian companies suspected of dodging their tax obligations through intricate offshore company structures. On December 12th the Finance Ministry of India announced that it would launching investigations to uncover evidence of tax evasion committed by over 100 high net-worth Indian businesses with operations in offshore tax havens. The investigation, which has been dubbed “Lifting the Corporate Veil”, will be run by ... Read More

One of the world’s largest beer manufacturing companies, SABMiller, has been accused of actively dodging its taxes in the developing countries where it operates, leading to nearly GBP 20 million in lowered tax revenues across the African continent. On November 29th ActionAid, an international anti-poverty agency, launched a campaign accusing SABMiller, the world’s second largest beer company, of avoiding their full tax obligations in the developing nations where it operates, by actively structuring its operations and subsidiaries to lower the company's overall corporate ... Read More

The international bank Credit Suisse is set to fight a Canadian federal court order issued in October which mandated that an extensive amount of customer data be handed to Canadian national tax authorities to aid investigations into offshore tax evasion. Late last week it was revealed that on November 17th lawyers representing Credit Suisse filed an application with the Federal Court of Canada to overturn a previous ruling which granted tax authorities access to over “500 boxes” of archived transaction data and customer ... Read More

The UK Government is now expecting to make a GBP 10 billion windfall over the next five years from a series of new tax information exchange agreements, greatly exceeding the previous estimate of GBP 1 billion. Three countries have recently approached the UK Government with the intention of initiating negotiations for new tax information exchange agreements. In a media statement the HM Treasury explained the significance of the potential agreements, saying, "These agreements, by allowing us to get information from tax havens, means ... Read More

Investigations have continued into Denmark's recent tax scandal, revealing that over the last five years, transactions between Danes and tax havens across the world could be as high as DKK 4 trillion, four times more than originally estimated. As we reported earlier, the Tax Ministry of Denmark has launched Money Transfer, an investigation into the exorbitant number of transactions carried out between Danish taxpayers and the 55 countries which are considered by Danish tax authorities to be tax havens. The Ministry’s preliminary estimates ... Read More