Timothy F Geithner has been sworn in as the new secretary of the US Treasury.
Geithner, president of the Federal Reserve Bank of New York until his
appointment yesterday, was embroiled in a scandal after it emerged he had not
paid all his taxes on income received from the International Monetary Fund in
2001, and in three subsequent years.
He has now paid the taxes and penalties, White House spokesman Robert Gibbs
confirmed, but the issues still led almost a third of the US Senate to vote
against his appointment.
The US Senate voted 60 to 34 to put Geithner in charge of the department, the
Angeles Times reported.
Tim’s work and the work of the entire Treasury Department must begin at once.
We cannot lose a day because every day the economic picture is darkening, here
and across the globe,’ President Obama said before Geithner was sworn in by Vice
President Joe Biden.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed