OECD: Combating Tax Evasion and Financial Crimes in Latin America
An OECD blog post on 9 February 2022 looked at the fight against tax evasion and financial crimes in the Latin America region and at lessons learned from initiatives of the OECD’s Task Force on Tax Crimes and Other Crimes (TFTC) and the Criminal
See MoreUK: HMRC Seizes Non-Fungible Tokens in Fraud Investigation
The UK tax authority HMRC has for the first time seized non-fungible tokens (NFTs) in a case involving suspected fraud. NFTs serve effectively as digital ownership certificates for virtual assets (e.g. digital artwork) or physical assets (e.g.
See MoreAlgeria: Tax agency declares draft Budget 2020
On 29 September 2019, the General Directorate of Taxes announced the draft Budget 2020, which includes measures to implement incentives for high-technology and innovative start-ups, VAT exemptions, to prevent VAT fraud.
See MoreSlovak Republic: Government declares new corporate tax measures
The Government announced several changes in the corporate taxation area on 20th June 2017, including the introduction of a new patent box regime in line with the modified nexus approach developed as part of BEPS Action 5. The government also
See MoreIMF report comments on economic situation of Czech Republic
On 16 May 2016 the IMF published a report following conclusion of talks with the Czech Republic under Article IV of its articles of agreement. Following a 4.2% expansion of the economy in 2015 growth in the Czech Republic is expected to slow
See MoreUK: Public Accounts Committee publishes report on tackling tax fraud
The UK parliament’s Public Accounts Committee (PAC) has published the results of an inquiry into how the tax administration HMRC is tackling tax fraud. The report entitled Tackling Tax Fraud was published by the PAC on 15 April 2016. As part of
See MoreCzech Republic: Ministry of Finance holds conference on countering tax evasion
The Finance Ministry held a conference on 18th November 2015 regarding tax evasion and measures taken to counter it. It was reported that because of intensifying the fight against tax evasion and avoidance, public revenues had increased. In
See MoreCzech Republic: Expanded theory of “unreliable VAT payers”
Recently the General Tax Directorate has released the category of "unreliable VAT payers" which was effective from 1 October 2014. It was extended to contain intentionally inaccessible VAT payers, VAT payers who fail to complete the deadlines
See MoreMalta improves late VAT payment regime
Malta’s VAT authority is to lessen fines on late VAT payers, and improve communications with taxable persons looking to bring their non-compliant affairs up-to-date. The daily penalty for late returns and payments of €15 will be scrapped. The
See MoreVAT Amnesty Launched in UK
UK is continuing its concentrated efforts to solve the issue of tax evasion. In this regard, UK is launching a new campaign focusing on those trading above the current value-added tax threshold, but who have not registered themselves for the
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