
EU: Adidas HQ raided in tax evasion investigation
Adidas’ German headquarters were raided by criminal prosecutors and customs investigators this week as part of a multi-year investigation into suspected tax evasion by the sports brand worth more
Chinese and other non-EU seller marketplaces may face customs admin charge in response to alleged widespread tax evasion
European Commission officials are reported to be considering a new customs administration levy on platforms for non-EU sourced low-value imports. A potential revenue or handling charge framework is likely to be made public in January with the new Commission coming into office at the start of this month. The move is spurred by compliants from many member states of unfair tax and lax product standards.
The €150 customs duties threshold is to be scrapped under 2028 EU customs reform proposals.
Any levy could be targeted at marketplaces on non-EU sourced goods sold to EU consumers and declared as under the €150 customs exemption threshold. It is believed that there is widespread under declarations of the value of parcels sold on popular sites such as Shein and Temu. Shipments from such sites will top €4 billion this year, and have tripled since 2022.
However, the revenue and administration charge reported as being considered however would likely fall foul of international tax rules and treaties. And would most probably transgress World Trade Organisation rules.
Adidas’ German headquarters were raided by criminal prosecutors and customs investigators this week as part of a multi-year investigation into suspected tax evasion by the sports brand worth more
CoinShares, a digital asset manager, reported that institutional investment in crypto products saw an outflow for the second week in a row. According to their latest report on digital asset fund flows,
Hunter Biden is set to stand trial on federal tax charges in early September, and during a pre-trial hearing Wednesday, the legal team for President Joe Biden’s son and prosecutors appear in a
New research released this week by RBC Wealth Management (part of the Royal Bank of Canada) looks at the top financial concerns of wealthy individuals across the UK in 2024. Inheritance tax, gifting