In a statement the bank said that five former executives had held funds in Faldor, a British Virgin Islands investment company managed by the bank’s offshore department.
The relationship with Faldor was set up in 1989 and ended in 1996. An investigation carried out by the bank found that €750,000 was managed by Faldor and that there was a breach in taxation law.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states