All articles tagged with #taxevasion
Italian police have seized €1.3 billion worth of shares from Lagfin, the controlling shareholder of Campari, over allegations of tax evasion related to undeclared capital gains and transfer of assets abroad for tax benefits. Campari states it is not involved, and the investigation focuses on Lagfin and its executives.
U.S. District Judge Mark Scarsi criticized President Joe Biden's claim that his son, Hunter Biden, was targeted for tax evasion charges due to political motivations, asserting that the charges were not a result of selective prosecution. Scarsi also questioned the constitutionality of the president's pardon, which covered a timeframe extending into the future, potentially exceeding presidential pardon powers. Despite these concerns, Scarsi agreed to end the tax-related proceedings against Hunter Biden, who had pleaded guilty to multiple charges.
A new global agreement among the 38 OECD member countries mandates that apps such as eBay and Airbnb will automatically report users' earnings to tax authorities to combat tax evasion and ensure compliance. This rule targets income from various online activities, including sales of goods, services, and property rentals. The platforms began collecting data on January 1, 2024, with the first reports to tax bodies scheduled for early next year after accumulating 12 months of data. The move aims to level the playing field for taxpayers and assist online sellers in correctly filing their taxes.