1286
Germany Tightens Rules for Tax Dodgers
Economy

Germany Tightens Rules for Tax Dodgers

Germany is coming down harder on tax evaders, introducing draft legislation that foresees stricter rules for people who turn themselves in to escape punishment.

On Wednesday, the German cabinet adopted legislation that raises the statute of limitations for tax evasion to 10 years from five, dpa reported.
It also lowered the threshold at which tax dodgers who come clean can avoid having to pay an additional fine. Until now, anyone who admitted to evading less than 50,000 euros ($64,2385) was not required to pay an extra fine. Evading more than 50,000 euros came with a fine of 5 percent.
Under the new rules, evading more than 25,000 euros will come with a surcharge of 10 percent.
The stricter legislation comes as the storied president of the Bayern Munich soccer club Uli Hoeness is serving a three and a half year sentence for tax evasion, a case that spurred a fiery debate over economic justice.
Hoeness, a soccer legend who also played for West Germany's World Cup-winning team in 1974, turned himself into authorities but a judge ruled that his disclosure was incomplete and thus disqualified him from exemption from punishment.

Short URL : http://goo.gl/jNHkza

You can also read ...

US Looking East After Fining Europe Over Iran Business
The US effort to put Iran in a financial bind meant European...
Depending on Iran’s progress in completing its action plan, FATF will take further steps in June 2018.
The Financial Action Task Force has recognized measures taken...
Proses has offered to explore a possible SISP at the world class Mehdiabad zinc (lead and silver) project in Iran where it has a role in development planning.
British mining and mineral processing technology company...
Crimean Ports Under Sanctions Looking for Way Out to Iran
Crimea’s ports, which are not operating at full capacity due...
Iran’s Corruption Perceptions Index Improves
Iran’s score based on the Corruption Perceptions Index...
Iranian Internet Service Providers Under Scrutiny
In a bid to increase access to the Internet, the Communication...
Home Security Startup Taps Face-Recognition Tech
A team of engineers that worked on self-driving cars and...
SpaceX successfully deployed a satellite into low Earth orbit for the Spanish government.
SpaceX took a critical step Thursday toward making one of Elon...

Trending

Googleplus