European Union

HSBC hit by U.S. 'princelings' probe and below-forecast profit

HSBC revealed it faces another potentially damaging U.S. investigation, this time over hiring people linked to government officials in Asia, which combined with below-forecast earnings led to a sharp fall in its shares on Monday.

Tax-News.com: EU Authorities Make Arrests In VAT Fraud Sting

Law enforcement agencies from twelve member states and Europol have arrested members of a group responsible for value-added tax fraud worth EUR320m (USD348m).
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Journalistic investigation digs into Commissioner Georgieva’s past

A journalistic investigation alleges Commission Vice President Kristalina Georgieva, who was a candidate for UN Secretary General, has skeletons in her closet. The study also suggests that the EU keeps appointing leadership figures without vetting them.
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Tax-News.com: Italian Police Breaks Up Europe-Wide VAT Fraud Ring

On October 12, the Italian financial police said it had broke up a value-added tax fraud ring allegedly involved in transactions totaling EUR930m, through 180 companies in 15 European Union (EU) countries.
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Tax-News.com: European Council Adopts Resolutions On Tax Transparency

The European Council has adopted a series of conclusions on tax transparency, arguing that there is a need for more effective cooperation between tax authorities. The Council said that it recognizes the progress made in pursuing the EU's agenda for fairer, more transparent, and more effective taxation.
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EU lawmakers urge FIFA's Blatter to go now

EU lawmakers called on fifa President Sepp Blatter on Thursday to step down immediately, saying that his failure to do so would stall urgent reforms to rid soccer's governing body of its "rampant, systemic and deep-rooted" Corruption.
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Tax-News.com: European Parliament Begins Panama Papers Inquiry

The European Parliament's Committee of Inquiry into Money Laundering, Tax Avoidance, and Tax Evasion (PANA) held its first full meeting on September 27. It consists of 70 members, including a chair and four vice chairs. It will investigate alleged contraventions and maladministration in the application of European law with respect to Money Laundering, Tax Avoidance, and Tax Evasion by the European commission or member states.

Bahamas Leaks: Another setback  for the EU Commission

The European commission is lurching from one Corruption scandal to the next. It's easy to get the impression that the body is gradually losing all credibility when you read the headlines on the most recent 'Bahamas Leaks' scandal involving Neelie Kroes.
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Former EU commissioner failed to disclose offshore interest

Leaked documents reveal how a Former EU commissioner failed to disclose her interest in an offshore company.

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