/Tag:tax burden

Offshore firms own 40.000 properties in London

A research conducted by the British newspaper The Guardian demonstrates that the offshore ownership of properties in London has increased with 9% over the last 10 months. At present, companies registered in tax havens, such as Panama, Liechtenstein, Cayman Islands, and the British Virgin Islands, own around 40.000 commercial and residential buildings in Greater London. The [...]

Google accountancy practices in a Welsh village

A group of traders in Crickhowell, a small village in Wales, started an initiative aimed at optimizing their tax bills. Small family businesses, such as the local book shop, bakery, smoked salmon firm, and a local café, decided to use the same offshore tax strategies that are used by large multinationals. This initiative is a protest [...]

Tax transparency creates new homes

In the recent years, there has been a steady increase in the number of legal acts allowing the governments to automatically exchange tax information. Below, three such legal acts are mentioned. The U.S. Foreign Account Tax Compliance Act (FATCA) requires all non-US financial institutions to conduct a search in their records and to report assets of [...]