Cher has sued Universal Music group over $US 5 million in royalties she
believes the company hid through creative accounting that she and the heirs of
her late ex-husband, Sonny Bono, are owed.
Cher alleges that an audit of UMG’s financial reports between 2000 and 2003
show that UMG executives engaged in creative accounting to hide royalty revenue
from two Sonny & Cher compilation albums.
Reuters reperts that Sonny & Cher struck a deal in 1972 to receive up to
50 per cent of net royalties received by UMG.
Cher alleges that UMG later distributed a 1999 compilation and then
attributed the income to UMG’s international arm to conceal the true amount of
royalties owed to Cher and Bono’s descendents.
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