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US targets "tax haven" Netherlands
US targets "tax haven" Netherlands - Trends
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The Netherlands is a corporate tax haven for US multinationals and, together with Ireland and Bermuda, it is sheltering companies' earnings from the American tax authorities, a US Treasury Statement suggested on Monday. As long as they keep their earnings overseas, US companies are legally exempt from paying. Taxes only become due when the money is "repatriated" to the United States. The current practice is perfectly legal, but the US government considers it harmful to the American economy. President Obama announced a crackdown on the tax shelters, aiming to raise USD 210 billion in taxes over the next decade. A ...
HOUSTON -- In the world of Big Oil, Albert "Jack" Stanley was legendary for winning billion-dollar contracts in third world countries, the Halliburton executive who knew all the secrets of deals in places like Malaysia, Egypt and Yemen. In the wake of his admission in a guilty plea (PDF) last week that he resorted to bribes, kickbacks and high-level corruption to secure deals in Nigeria, however, Stanley now lies at the center of a widening scandal in the oil industry that has implications for corporations and governments across the globe. Stanley's case is the first in what ... Read More
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