TaxBlog

Wesley Snipes has reached a settlement with the Internal Revenue Service regarding his tax fraud charges.

The agreement will likely see Snipes surrender to federal authorities when he next returns to America.

In return for agreeing to a payment plan, Snipes will not be jailed and will be allowed both to continue working and to travel abroad.

According to an October 17 indictment, Snipes tried to unsuccessfully claim nearly $12 million in false refunds for taxes he paid in 1996 and 1997.

The “Blade” star had his taxes prepared by accountants with a history of filing false returns to reap payments for their clients.

Snipes is currently in Namibia shooting the horror film “Gallowwalker.”

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Plans to hire 300-400 Inland Revenue staff to administer KiwiSaver are yet another example of the Labour Government’s public sector hiring binge, says National Party Associate Finance spokesman Craig Foss.

“This hiring will increase IRD’s staff numbers by around 8%. IRD already has 5,358 full-time equivalent staff on its books.

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Germany’s coalition government has reached agreement on slashing business taxes from 2008, in a bid to improve the country’s competitiveness.

In future, the standard rate for firms will be cut from nearly 39% to just under 30%.

Changes to the business tax regime are seen as a test of Chancellor Angela Merkel’s ability to push through her reform agenda.

The measure was agreed by a German government working group of tax experts. A simpler tax system has long been sought in Germany.

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