Tax evasion

The Albanian government has sent an "invitation for consultations" to business representatives on its controversial draft financial amnesty law, announcing a conference in the presence of Prime Minister Edi Rama in Tirana on July 15, according to a source from the organizations invited to the "consultations".

Albanian Prime Minister Edi Rama (left) and Socialist Party secretary-general Damian Gjiknuri. Photo: LSA

The opposition claims that the scheme would allow criminal to launder proceeds of illegal activities, in a country where money-laundering and organised crime are a serious concern.

McDonald's will pay 1.25 billion euros ($1.3 billion) in France to avoid a legal case over tax evasion between 2009 and 2020, under an agreement approved yesterday by a Paris court.    

A growing number of Albanian crime figures are finding refuge and laundering money in the United Arab Emirates, knowing that authorities in Albania and elsewhere in Europe will struggle to secure their extradition.

The Bank of Greece proposes simplification of the tax legislation and the tax system, digitization of procedures and payments, but also closer cooperation of the tax authorities of the EU member states for the detection of fraud in cross-border transactions, in order to reduce tax evasion on the VAT front.

Celje – A long-running trial over allegedly bogus consultancy contract related to the 2007 acquisition of stock of a fish-processing company by builder Vegrad has collapsed after a court-appointed expert found that consultancy services were in fact provided and the prosecution withdrew the indictment against prominent lawyer Miro Senica and co-defendants.

Council of Europe conference in Podgorica, Montenegro. Photo: Council of Europe.

Yngve Engstrom, head of the EU Delegation to Montenegro, told the conference that the anti-money laundering and counter-terrorist financing system in Montenegro must be improved.

Ljubljana – Ljubljana Mayor Zoran Janković entered a not guilty plea at an arraignment hearing at the Ljubljana District Court on Friday in a case of tax evasion concerning the sale of retailer Mercator shares in 2006. His two sons also pleaded not guilty as well but they did not attend the hearing.

Turkey's Ministry of Treasury and Finance said the grey listing of the country on Oct. 21 by the Financial Action Task Force (FATF) was unfair.  

"Despite coordination studies, putting our country on the grey list has created a result that is unwarranted," the ministry said in a statement. 

The existence of offshore accounts is clearly an attempt to circumvent the law, toldbTV financial expert Kolio Paranov in connection with the revelations of Pandora Papers.