Obama''s inversion curbs kill Pfizer''s $160 bln Allergan deal

Obama''s inversion curbs kill Pfizer''s $160 bln Allergan deal

U.S. drug maker Pfizer Inc agreed on Tuesday to terminate its $160 billion agreement to acquire Botox maker Allergan Plc, in a major victory to U.S. President Barack Obama`s drive to stop tax-dodging corporate mergers.

Credit Suisse, HSBC dismiss "Panama Papers" tax avoidance allegations

Credit Suisse, HSBC dismiss "Panama Papers" tax avoidance allegations

Credit Suisse CEO Tidjane Thiam, who is aggressively targeting Asia`s wealthiest for growth, said his bank was only after lawful assets.

India lightly taxed; help govt collect more: Sinha to CA

India is a "lightly taxed" nation, Minister of State for Finance Jayant Sinha said Thursday, urging CAs to help the government collect due taxes and raise the tax-GDP ratio to 20 percent.

Govt clears tax, info exchange pacts with Maldives, Slovenia

Govt clears tax, info exchange pacts with Maldives, Slovenia

The approval was given by the Union Cabinet chaired by Prime Minister Narendra Modi.

Era of tax avoidance to minimise liability over, warns CBDT

Era of tax avoidance to minimise liability over, warns CBDT

All those in business trying to minimise the applicable tax in any manner would be dealt with sternly,CBDT Chairperson Anita Kapur siad on Thursday.


EU unveils clampdown on tax avoidance after LuxLeaks

The EU intensified efforts to fight rampant tax avoidance by multinationals on Wednesday in its first major effort to counter the LuxLeaks scandal that poured embarrassment on commission head Jean-Claude Juncker.

''G20 to focus on economic growth, infrastructure and tax avoidance''

Hockey, who is chair of the G20 finance ministers, made these remarks before finance ministers of G20 nations gathered for a special meeting, just before the world leaders summit.

G20 set for 'very aggressive' crackdown on tax avoidance

Closing corporate tax loopholes and endorsing a common reporting standard to increase transparency are set to be a primary focus of the G20 summit in Brisbane this weekend.

Luxembourg, Juncker under fire after global tax leaks

Luxembourg and its former premier Jean-Claude Juncker -- who is now the new head of the European commission -- came under fire on Thursday after leaked documents showed the tiny nation gave hundreds of global firms huge tax avoidance deals.

Luxembourg tax deals with global firms under fire after leaks

Luxembourg was under fire Thursday after leaked documents revealed its huge tax avoidance deals with hundreds of top global firms, putting its former premier Jean-Claude Juncker under the spotlight in his first week as EU commission chief.

G20 commitment on tax info to help India track black money

The G20 on Sunday decided to put in place a mechanism for automatic exchange of tax information between various countries by 2017, a development which will help India in dealing with the menace of black money stashed abroad.

'OECD proposals to have impact on transfer pricing in India'

Once implemented, the measures proposed by OECD to curb tax avoidance activities would have "far reaching implications" in India's transfer pricing landscape as well as a significant impact on US multinationals with overseas operations, according to experts.

India preparing to take final decision on controversial GAAR tax rules: FM

Jaitley did not give a timeline for the decision or more details.

Govt using information from various nations to check tax evasion

The government on Tuesday said it is effectively using the information received from various countries to combat the menace of tax evasion and avoidance.

'Govt to take call on GAAR implementation soon'

As per the existing proposal, investments made after March 2013 will be covered under GAAR with effect from assessment year 2016-17.

India seeks automatic info-sharing to deal with tax avoidance

India on Friday called for automatic exchange of key financial information and greater cooperation among G20 nations to deal with cases of tax avoidance.

G-8 summit to discuss tax avoidance by companies

A summit meeting of G-8 countries in Northern Ireland next week would discuss the issue of "tax avoidance" by companies in this increasingly globalised economy, a White House official has said.

Nearly 29,000 tax defaulters owe Rs 3,770 cr to govt

Tax defaults by nearly 29,000 taxpayers aggregate to Rs 3,770 crore, according to a tax department's analysis of e-returns filed in 2012-13.

Tax evasion hits infrastructure development: Court

A Delhi court has upheld a two-year jail term given to a tax evader, saying tax avoidance reduced funds needed for the country's infrastructure development.