March 6, 2013 |
SACRAMENTO -- A bipartisan trio of lawmakers and a tax official have unveiled bills they say they'll use to save some California investors from getting hit with a collective $120 million in retroactive taxes. One bill would reverse plans by the California Franchise Tax Board to force about 2,000 filers to return the tax breaks they received between 2008 and 2011 on the sale of stock in qualified small businesses. The two-decade-old incentive was aimed at encouraging investment and job creation in California.
February 20, 2013 |
JERUSALEM -- Film producer Yoram Globus was arrested for suspected tax evasion and released on bail Tuesday evening, local media reported . The Israel Tax Authority asked for Globus' arrest as part of its investigation of the veteran movie maker. According to a statement from the tax authority Wednesday, Globus withdrew more than $7.3 million from two of his companies in 2005 and failed to declare it as income. Tax authorities calculated the interest on the resulting tax debt that has accumulated over the years at more than $4 million.
December 13, 2012 |
ISLAMABAD, Pakistan - The man hired to go after a nation of tax evaders jabs his finger at his laptop screen as he scrolls through a database of wealthy Pakistanis and dissects their spending habits. He stops at the name of a rich man from Peshawar. Everything's there, Ali Arshad Hakeem says: the man's photo, his home in a posh Peshawar neighborhood, his frequent trips to Abu Dhabi, his BMW and a bevy of bank accounts. "We have the universe; now how do we use that universe?"
November 3, 2012 |
SACRAMENTO -- Most Internet shoppers in California know that, since Sept. 15, Amazon.com and other e-merchants, have been required to collect sales taxes for online purchases. But, what many are just finding out is that Amazon and some competitors also are collecting California's 7.25% base rate plus any local government add-on sales taxes on combined "shipping and handling" charges. According to California's sales tax collection agency, the Board of Equalization, sales tax should be collected when a seller "makes a combined charge for 'shipping and handling' or 'postage and handling,' " if the invoice does not show the actual cost of the individual delivery.
CALIFORNIA | LOCAL
October 19, 2012 |
Los Angeles County Assessor John Noguez and the tax consultant accused of bribing him, Ramin Salari, pleaded not guilty to a long list of corruption charges Thursday. The men, who were arrested Wednesday, are being held on more than $1-million bail each. They are scheduled to be in court again Monday to argue for lower bail and to prove that any money they use to pay it was not acquired through criminal means. Prosecutors allege that Noguez took $185,000 in bribes to illegally reduce the values of properties represented by Salari so their owners would pay lower taxes.
August 31, 2012 |
The California tax man cometh, and he's headed for the Internet. State tax collectors are preparing to crack down on renegade Internet merchants who don't collect sales taxes, and nearly 100 new state auditors, lawyers and other specialists are being hired to help over the next three years. The effort comes at a time when state and local governments are scrambling for money after cutting billions of dollars from budgets and trimming public services. The governor has asked voters in November to approve a hike in sales and income taxes.