Labour criticised the government after the Treasury minister, David Gauke, admitted in reply to a parliamentary written question that four employees of HMRC are working to capture 124 tax fugitives.
Deutsche Bank on Thursday said it did not expect to have to make payments to cover back taxes by clients, after some of its banking rivals ran into trouble over a tax rebate strategy known as "dividend stripping."
Deutsche Bank's failure to turn over e-mails in a tax probe that led to the arrest last year of five employees may have been caused by errors at International Business Machines, which managed the bank’s data storage.
Last year, the Italian was paid £1.8m, including a cash bonus of £1.4m. It was not an uncommonly good package by the his standards: the previous year saw him earn £2m.
Russia needs to address the problem of illicit capital outflow and tax evasion, and more effort needs to be put into supporting economic growth in the Far East, according to the President Vladimir Putin.
FATCA, which comes into force on July 1, 2014, will collect information on accounts held by U.S. taxpayers in all the countries.
HMRC’s tax take from investigations into highly paid foreign City workers living in the UK has jumped to record levels, according to data obtained by Pinsent Masons, the international law firm.
Algirdas Semeta, commissioner responsible for taxation and customs union, described the taxation governance reforming of this year as "immense progress."