Hong Kong authorities have charged seven individuals and two companies with 25 offenses, including manslaughter and money laundering, in connection with the city's deadliest fire at Wang Fuk Court last November, which killed 168 people.
A report by the Finance Innovation Lab charity estimates that over £325bn of illicit money flows through the UK annually, equivalent to 10% of GDP. The figure rises to £788bn when including UK overseas territories. The report urges government action to tackle economic crime and calls for a pause on plans to make London a crypto hub.
China's State Taxation Administration announced eight cases of tax evasion involving companies and a store using private accounts to collect payments and conceal income. The cases, spanning from 2019 to 2024, resulted in total evaded taxes and penalties exceeding 400 million yuan.
Tax dodgers are increasingly using Bitcoin Ordinals and BRC-20 tokens to hide wealth, according to Chainalysis. Italian authorities uncovered a $1.1 million tax evasion scheme using these methods, highlighting the blockchain's transparency as a key tool for investigators.
Former prosecutor Anne Brorhilker believes complex tax evasion schemes like Cum-Ex remain widespread in Germany due to insufficient judicial capacity and a lack of specialized investigators. She advocates for a central authority to combat financial crime, similar to Austria's model.
A new £20m National Crime Agency unit will target "dodgy" retail outlets like vape stores and mini-marts suspected of laundering £1bn of criminal money annually. The initiative aims to combat tax fraud, counterfeit goods, and illegal work, with 75 officers recruited for investigations and raids.
A top online influencer in China who was fined 18.91 million yuan (US$2.6 million) for evading nine million yuan in taxes has attracted significant attention on social media. The case of Bai Bing, a food influencer with more than 40 million followers, was revealed by China’s State Tax Administration (STA) in late April, according to the media outlet CCTV. The authorities said that between 2021 and 2024, Bai underpaid a total of 9.11 million yuan (US$1.3 million) of personal income tax,...
A top online influencer in China who was fined 18.91 million yuan (US$2.6 million) for evading nine million yuan in taxes has attracted significant attention on social media. The case of Bai Bing, a food influencer with more than 40 million followers, was revealed by China’s State Tax Administration (STA) in late April, according to the media outlet CCTV. The authorities said that between 2021 and 2024, Bai underpaid a total of 9.11 million yuan (US$1.3 million) of personal income tax,...
SEOUL, May 6 (Yonhap) -- Tax authorities said Wednesday they will launch an inve...
A local online media outlet has been cleared of tax evasion after a year-long review, but the process still cost HK$40,000 (US$5,106) in accounting fees, the Hong Kong Journalists Association said on Monday. Describing the case as an “unfair punishment” on media with “zero fault”, the association said it had been required to prepay HK$730,000 in taxes this year, after also coming under review by the Inland Revenue Department since November 2023. Of the eight media outlets and at least 20...
An online media outlet in Hong Kong was cleared of tax evasion after a year-long review, though it faced HK$40,000 in accounting fees. The Hong Kong Journalists Association reports that multiple media organizations are currently under similar tax scrutiny.
Beijing is intensifying its enforcement against tax evasion, extending its reach into consumption taxes, which have been positioned as a critical source of stabilising local government finances that have been hit hard by the nation’s prolonged property crisis. Earlier this month, the State Taxation Administration (STA) released details of eight tax-violation cases involving sectors such as gold jewellery, alcoholic beverages and refined oil. The enforcement actions spanned multiple regions,...
