France’s highest court has overturned the Socialist government’s 75-percent income tax rate for the wealthy. The Constitutional Council ruled Saturday that the upper tax rate on incomes above $1.32 million, set to go into effect next year, is unconstitutional because it represents a “breech of equality of taxes.”+ The decision is a huge blow to […]
Top French Court Overturns 75 Percent Tax Rate for Rich
Posted December 29th, 2012 at 6:50 am (UTC-5)
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Study Finds Most Pakistani Lawmakers Fail to Pay Taxes
Posted December 12th, 2012 at 12:50 pm (UTC-5)
A Pakistani investigative journalism group says less than a third of the country’s lawmakers filed income taxes in 2011, bringing into focus longstanding complaints about high-level tax evasion ahead of elections set for next year. The Center for Investigative Reporting in Pakistan said most of the country’s 446 lawmakers and about two-thirds of the government’s […]
EU Puts Year-Long Freeze on Airline Carbon Tax
Posted November 12th, 2012 at 7:00 pm (UTC-5)
The European Union is putting a year-long freeze on a controversial rule that all airlines flying in and out of EU airports pay a carbon emissions tax. Climate Commissioner Connie Hedegaard says the European Union wants to “stop the clock” to create goodwill during talks on a global deal to curb pollution from airplanes. But […]
Italy’s Berlusconi Guilty of Tax Fraud
Posted October 26th, 2012 at 1:05 pm (UTC-5)
Former Italian Prime Minister Silvio Berlusconi has been convicted of tax fraud and sentenced to a year in prison. A Milan court Friday found the 76-year-old media magnate guilty in a case linked to the purchase of U.S. film and television rights on behalf of Mediaset, Italy’s largest private television company that he controls. Prosecutors […]
Italy’s Berlusconi Guilty of Tax Fraud
Posted October 26th, 2012 at 12:10 pm (UTC-5)
Former Italian Prime Minister Silvio Berlusconi has been convicted of tax fraud and sentenced to four years in prison. A Milan court Friday found the 76-year-old media magnate guilty in a case linked to the purchase of U.S. film and television rights on behalf of Mediaset, Italy’s largest private television company that he controls. Prosecutors […]
Romney Says 2011 Income Totaled $13.7 Million
Posted September 21st, 2012 at 4:50 pm (UTC-5)
Tax returns for U.S. Republican presidential nominee Mitt Romney and his wife Ann show the couple had $13.7 million in income last year. The returns, released by his campaign Friday, showed they paid more than $1.9 million in federal taxes, an effective tax rate of 14.1 percent. That is a lower rate than many Americans […]
US Pays $104 Million to Tax Cheat Whistleblower
Posted September 11th, 2012 at 3:55 pm (UTC-5)
U.S. tax authorities have awarded $104 million to a former banker at UBS after he told them how the Swiss-based bank help thousands of Americans evade taxes through their overseas accounts. Lawyers for the whistleblower, Bradley Birkenfeld, announced the award Tuesday. They said it was the largest ever handed out by the U.S. tax agency, […]
US Indicts Seven from Zimbabwe in Tax Fraud Case
Posted September 7th, 2012 at 8:00 pm (UTC-5)
The United States has indicted seven men from Zimbabwe on charges of filing hundreds of false U.S. income tax returns, netting them up to $10 million in illegal refunds. Prosecutors in Cincinnati say the seven operated a storefront tax preparation service and used the names and information from hundreds of customers to send in fake […]
US: Obama Urges Middle-Class Tax Cut Extension
Posted July 9th, 2012 at 1:30 pm (UTC-5)
U.S. President Barack Obama is renewing a contentious political fight, calling for an extension of tax cuts for middle-class Americans but not for wealthier people. With the presidential election less than four months away, Mr. Obama invited taxpayers to the White House on Monday who would benefit from renewal of the tax cuts beyond their […]
Japan’s Ruling Party Split as Lawmakers Approve Controversial Tax Hike
Posted June 26th, 2012 at 6:15 am (UTC-5)
Japanese lawmakers have approved a controversial tax hike plan to help curb growing public debt, despite a rebellion by some in Prime Minister Yoshihiko Noda’s ruling party. The plan to double the sales tax to 10 percent over three years easily cleared Japan’s lower house of parliament Tuesday. But 57 members of the ruling Democratic […]
