Posts tagged: tax
BNY Mellon, IRS spar over $900 million tax benefit
WASHINGTON (Reuters) - Bank of New York Mellon Corp faced off against the U.S. government on Thursday in closing arguments over a $900 million tax benefit that the Internal Revenue Service called "tax abuse." The case is the first to go to trial since the IRS accused some banks of ...
Guest Commentary: Some Greeks Deferring Tax Payments due to Election Results
Only a few days have passed since the general elections, but the Greek state already feels it in its coffers: some Greek citizens are responding to the high uncertainty and deferring tax payments.
Germany raises forecast for 2012 tax revenues
Germany says it expects its tax income over the next few years to be slightly higher than previously predicted due to a healthy job market and rising personal incomes.
Vale wins injunction barring Brazil tax debt payment
SAO PAULO (Reuters) - Brazil's highest court suspended on Wednesday the payment of about 24 billion reais ($12.4 billion) in back taxes by mining company Vale , handing the world's largest iron ore producer a temporary victory in a dispute with the government. Justice Marco Aurélio de Mello at the ...
Empire State Building IPO change may help pay tax
NEW YORK (Reuters) - The controller of the Empire State Building has offered investors the opportunity to sell some of their shares and relieve some of the expected tax burden if a proposed initial public offering is approved before the end of the year, according to a federal filing on ...
Tax hit weighs on HSBC’s Q1 profit
HSBC Holdings PLC saw its first-quarter net profits fall by 38 percent after a larger tax bill and higher insurance claims and liabilities.
Cities seek more money from tax-exempt colleges
Wary of tax increases, weary of layoffs and determined to avoid bankruptcy, Providence Mayor Angel Taveras had only to gaze up at his city's Ivy League campus to see a way out of the morass.
Swiss bank Pictet gave data to U.S. in tax probe
ZURICH (Reuters) - Swiss bank Pictet said on Sunday it handed over bank account details to U.S. authorities probing cases of tax evasion, as a newspaper reported it had accepted funds from two former UBS clients suspected of having cheated on taxes. Pictet said in a statement the data handover ...
India to deliberate tax measures as investors fret
MUMBAI (Reuters) - Whatever its intentions in cracking down on abuse of tax havens, India has alienated overseas investors with the timing and communication of its measures when it can ill afford to do so. India's move to target tax evaders through a general anti-avoidance rule (GAAR), along with a ...