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Germany calls for global minimum tax on large tech companies
German Finance Minister Olaf Scholz has called for a global minimum tax on large technology companies, The Telegraph reports, and it's a move aimed at ensuring tech firms pay taxes in the countries in which they generate revenue rather than only in the countries where they're headquartered. "We need a worldwide minimum tax level that no state may go below," Scholz told Welt am Sonntag. "We require coordinated mechanisms which prevent the displacement of revenues to tax havens."
Apple defends moving offshore profits to the tax haven of Jersey
A set of leaked documents from offshore law firm Appleby has revealed that Apple stashed $250 billion in Jersey, a tiny island off the coast of France known for being a tax haven. The tech titan apparently secretly moved its pile of overseas profits to the island after the US and various European governments cracked down on the tax strategy it's been employing since the 1980's. Apple used to rely on an arrangement called the "double Irish," which took advantage of Ireland's business-friendly tax policies.
Hackers target bank account in 'tax haven' Lichtenstein
Tiny Lichtenstein is known for its adorable castles, alpine vistas and, until recently, being an unabashed tax haven for billionaires. However, some customers may regret stashing any funds in the principality because of a hack at the Valartis Bank, according to Bild am Sonntag (paywall). While the attackers didn't gain direct access to funds, they reportedly stole sensitive banking information. In letters obtained by the German site, they've threatened to release the data unless paid a staggering 10 percent of account balances in Bitcoin by December 7th.
