taxes in Europe
European officials have ordered Starbucks and Fiat to repay millions in taxes after they found the companies benefited from illegal deals with two countries.
The European Commission said the Netherlands gave Starbucks (SBUX) a sweetheart tax deal that allowed the coffee chain to avoid up to 30 million euros ($34 million) in taxes since 2008. It said the Dutch government will now have to recover those taxes from Starbucks
taxable income when it booked ...
Starbucks UK profit rises, taxes decrease (Dec 15)
Reuters via Yahoo! FinanceDec 16 8:28 AM
The UK division of Starbucks on Tuesday reported higher profits for the year ending Sept. 27, even as its tax payment to Britain decreased by as much as 28 percent. In October, EU antitrust commissioner Margrethe Vestager ruled that corporations such as Starbucks and Fiat Chrysler benefited from illegal tax deals with Dutch and Luxembourg authorities and ordered the Netherlands to recover 20 ...
rights. Credit Left: Patrick McMullan Company; Right: Doug Kuntz
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WASHINGTON — The hedge fund magnates Daniel S. Loeb, Louis Moore Bacon and Steven A. Cohen have much in common. They have managed billions of dollars in capital, earning vast fortunes. They have invested large sums in art — and millions more in political candidates.
Moreover, each has exploited an esoteric tax loophole that saved them millions in taxes. The trick? Route the money to Bermuda and back.
With inequality at its highest levels in nearly a century and public debate rising over whether the government should respond to it through higher taxes on the wealthy, the very richest Americans have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. Some call it the “income defense industry,” consisting of a high-priced phalanx of lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers, virtually none of them available to taxpayers of more modest means.
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I.R.S. Cracks Down on Hedge Fund Tax StrategyJULY 8, 2015
Peter Brown, co-chief executive of Renaissance Technologies, testified in front of a Senate subcommittee on Tuesday in Washington.
DealBook: Hedge Fund Chief Testifies at Senate Tax-Avoidance HearingJULY 22, 2014
In recent years, this apparatus has become one of the most powerful avenues of influence for wealthy Americans of all political stripes, including Mr. Loeb and Mr. Cohen, who give heavily to Republicans, and the liberal billionaire George Soros, who has called for higher levies on the rich while at the same time using tax loopholes to bolster his own fortune.
All are among a small group providing much of the early cash for the 2016 presidential campaign.
Operating largely out of public view — in tax court, through arcane legislative provisions and in private negotiations with the Internal Revenue Service — the wealthy have used their influence to steadily whittle away at the government’s ability to tax them. The effect has been to create a kind of private tax system, catering to only
are demanding an investigation into his remarks.
Benzi Gopstein of Lehava wrote “Christmas has no place in the Holy Land” on an ultra-Orthodox Jewish website earlier this week, according to the Daily Telegraph and other Israeli media outlets. Gopstein also called on Christians to be expelled from Israel.
“Let us remove the vampires before they once again drink our blood,” Gopstein wrote.
Gopstein’s article sparked outrage from several religious groups who called on Israel’s deputy prosecutor to investigate the matter, according to The Telegraph.
“This statement was not made in a vacuum but in the context of many acts of violence against Christian clergy in recent years,” the Israel Movement for Reform
Great he will do himself in and a great courtesy to all