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LuxLeaks
Luxembourg Leaks (sometimes shortened to Lux Leaks or LuxLeaks) is the name of a financial scandal revealed in November 2014 by a journalistic investigation conducted by the International Consortium of Investigative Journalists. It is based on confidential information about Luxembourg's tax rulings set up by PricewaterhouseCoopers from 2002 to 2010 to the benefits of its clients. This investigation resulted in making available to the public tax rulings for over three hundred multinational companies based in Luxembourg. The LuxLeaks' disclosures attracted international attention and comment about tax avoidance schemes in Luxembourg and elsewhere. This scandal contributed to the implementation of measures aiming at reducing tax dumping and regulating tax avoidance schemes beneficial to multinational companies. The judicial aspects of this case concern the persons charged by Luxembourg justice for participating in the revelations. No multinational company was charged. The LuxLe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PricewaterhouseCoopers
PricewaterhouseCoopers, also known as PwC, is a multinational professional services network based in London, United Kingdom. It is the second-largest professional services network in the world and is one of the Big Four accounting firms, along with Deloitte, EY, and KPMG. The PwC network is overseen by PricewaterhouseCoopers International Limited, an English private company limited by guarantee. PwC firms are in 140 countries, with 370,000 people. 26% of the workforce was based in the Americas, 26% in Asia, 32% in Western Europe, and 5% in Middle East and Africa. The company's global revenues were US$50.3 billion in FY 2022, of which $18.0 billion was generated by its Assurance practice, $11.6 billion by its Tax and Legal practice and $20.7 billion by its Advisory practice. The firm in its recent actual form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. Both firms had histories dating back to the 19th century. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Four (audit Firms)
The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with ''Fortune'' 500 companies. The Big Four all offer audit, assurance, taxation, management consulting, valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Ruling Luxembourg
A tax is a mandatory financial charge or levy imposed on an individual or legal person, legal entity by a governmental organization to support government spending and public expenditures collectively or to Pigouvian tax, regulate and reduce negative Externality, externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct tax, direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat tax, flat percentage rate of taxation on personal annual income, but most progressive tax, scale taxes are progressive based on brackets of yearly income amounts. Most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
El Confidencial
''El Confidencial'' is a Spanish-language general-information digital newspaper located in Spain, specializing in economic, financial and political news. It was established as an online newspaper in 2001. Its target readership is professional and middle-aged. It has a liberal political orientation. It was one of the news outlets participating in the Panama Papers investigation into material leaked from the Panamanian law firm Mossack Fonseca. References External links * 2001 establishments in Spain Data journalism Spanish news websites Financial data vendors Newspapers published in Spain Newspapers established in 2001 Spanish-language newspapers {{Spain-newspaper-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directorate-General For Competition
Within the European Union (EU), Directorates-General are departments with specific zones of responsibility. Within the European Commission specifically, Directorates-General are the equivalent of national-level ministries. Most are headed by a European commissioner, responsible for the general direction of the Directorate-General, and in charge of (politically responsible for) the corresponding policy area; and a director-general, responsible for the management of day-to-day affairs, who reports to the European Commissioner. Nearly all of the top-level organisational divisions of the Secretariat of the European Parliament and the General Secretariat of the Council of the European Union are also termed Directorates-General. The European Patent Office (part of the European Patent Organisation, separate from the EU) also has Directorates-General, which are administrative groupings of departments. Directorates-General of the European Commission The Directorates-General of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Commission
The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informally known as "commissioners") corresponding to two thirds of the number of Member state of the European Union, member states, unless the European Council, acting unanimously, decides to alter this number. The current number of commissioners is 27, including the president. It includes an administrative body of about 32,000 European civil servants. The commission is divided into departments known as Directorate-General, Directorates-General (DGs) that can be likened to departments or Ministry (government department), ministries each headed by a director-general who is responsible to a commissioner. Currently, there is one member per European Union member state, member state, but members are bound by their oath of office to represent the genera ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transfer Pricing
Transfer pricing refers to the rules and methods for pricing transactions within and between enterprises under common ownership or control. Because of the potential for cross-border controlled transactions to distort taxable income, tax authorities in many countries can adjust intragroup transfer prices that differ from what would have been charged by unrelated enterprises dealing at arm’s length (the arm’s-length principle). The OECD and World Bank recommend intragroup pricing rules based on the arm’s-length principle, and 19 of the 20 members of the G20 have adopted similar measures through bilateral treaties and domestic legislation, regulations, or administrative practice.World Bank pp. 35-51 Countries with transfer pricing legislation generally follow th''OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations''in most respects, although their rules can differ on some important details. Where adopted, transfer pricing rules allow tax au ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscription model, requiring readers to pay for access to most of its articles and content. The ''Journal'' is published six days a week by Dow Jones & Company, a division of News Corp. As of 2023, ''The'' ''Wall Street Journal'' is the largest newspaper in the United States by print circulation, with 609,650 print subscribers. It has 3.17 million digital subscribers, the second-most in the nation after ''The New York Times''. The newspaper is one of the United States' newspapers of record. The first issue of the newspaper was published on July 8, 1889. The editorial page of the ''Journal'' is typically center-right in its positions. The newspaper has won 39 Pulitzer Prizes. History Founding and 19th century A predecessor to ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Directive (European Union)
A directive is a legal act of the European Union that requires Member state of the European Union, member states to achieve particular goals without dictating how the member states achieve those goals. A directive's goals have to be made the goals of one or more new or changed national laws by the member states before this legislation applies to individuals residing in the member states. Directives normally leave member states with a certain amount of leeway as to the exact rules to be adopted. Directives can be adopted by means of a variety of European Union legislative procedure, legislative procedures depending on their subject matter. The text of a draft directive (if subject to the co-decision process, as contentious matters usually are) is prepared by the European Commission, Commission after consultation with its own and national experts. The draft is presented to the European Parliament, Parliament and the Council of the European Union, Council—composed of relevant min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporations
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in Corporate law, law for certain purposes. Early incorporated entities were established by charter (i.e., by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through List of company registers, registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue share capital, stock, or whether they are formed to make a profit (accounting), profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this articl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Administrative And Financial Building For KPMG
Administration may refer to: Management of organizations * Management, the act of directing people towards accomplishing a goal: the process of dealing with or controlling things or people. ** Administrative assistant, traditionally known as a secretary, or also known as an administrative officer, administrative support specialist, or management assistant: a person whose work consists of supporting management ** Administration (government), management in or of government, the management of public affairs; government. *** Administrative division, a term for an administrative region within a country that is created for the purpose of managing of land and the affairs of people. ** Academic administration, a branch of an academic institution responsible for the maintenance and supervision of the institution ** Arts administration, a field that concerns business operations around an art organization ** Business administration, the performance or management of business operations *** Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
