Two Chinese state firms took control of an Italian military drone maker in 2018 via an offshore company — without the knowledge of authorities in Italy and Europe, the Wall Street Journal reported. Italian police traced the purchase of 75% stake in Alpi Aviation to China Railway Rolling Stock Corp — a state-owned rail companyContinue reading “China took control of an Italian military drone maker without authorities knowing it, report says”
Tag Archives: Shell Companies
Pandora Papers: Qatar ruling family avoided £18.5m tax on London super-mansion
The Qatar ruling family bought two of the UK’s most expensive houses in a deal that allowed them to avoid £18.5m in stamp duty, leaked documents show. The family bought the properties in central London via offshore companies for over £120m and applied to make them into a 17-bedroom “super-mansion”. There is no suggestion thatContinue reading “Pandora Papers: Qatar ruling family avoided £18.5m tax on London super-mansion”
In Video, Exxon Lobbyist Describes Efforts to Undercut Climate Action
On the tape, made in a Greenpeace sting, he described working with “shadow groups” to fight climate science, and detailed efforts to weaken President Biden’s proposals to burn less oil. The veteran oil-industry lobbyist was told he was meeting with a recruiter. But the video call, which was secretly recorded, was part of an elaborateContinue reading “In Video, Exxon Lobbyist Describes Efforts to Undercut Climate Action”
‘Champions League of tax avoidance:’ Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says
Uber used around 50 Dutch shell companies to help reduce its global tax burden, an Australian research group found. Despite earning $5.8 billion in global revenues in 2019, Uber claimed a $4.5 billion loss for tax purposes. One researcher called Uber’s alleged scheme “the Champions League of tax avoidance.” Uber has been using a complex taxContinue reading “‘Champions League of tax avoidance:’ Uber used 50 Dutch shell companies to dodge taxes on nearly $6 billion in revenue, report says”