Paradise Papers reveal F1 champion’s advisers set up offshore structure that experts say may be open to legal challenge
The Formula One world champion, Lewis Hamilton, one of the world’s richest sportspeople, avoided paying European taxes on his private jet using an Isle of Man scheme that is to be investigated by HM Revenue and Customs.
The big four accountancy firm EY and Appleby, the law firm at the centre of the Paradise Papers leak, helped Hamilton [...]
European commission says Apple got illegal help with tax breaks but CEO Tim Cook says ruling threatens investment in Europe
Apple has warned that future investment by multinationals in Europe could be hit after it was ordered to pay a record-breaking €13bn (£11bn) in back taxes to Ireland.
The world’s largest company was presented with the huge bill after the European commission ruled that a sweetheart tax deal between Apple and the Irish tax authorities amounted to illegal state aid.Continue reading...
Analysis shows $1.3tn of assets from Russia sitting offshore, as David Cameron prepares to host anti-corruption summit
More than $12tn (£8tn) has been siphoned out of Russia, China and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit.
A detailed 18-month research project has uncovered a sharp increase in the capital flowing offshore from developing countries, in particular Russia and China.Continue reading...
Whistleblower says leak of 11.5m Mossack Fonseca files on offshore tax havens has triggered debate but not enough action
The whistleblower behind the Panama Papers broke their silence on Friday to explain in detail how the injustices of offshore tax havens drove them to the biggest data leak in history.
The source, whose identity and gender remain a secret, denied being a spy.Continue reading...