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Lux Leaks
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] |
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] |
