01172017Tue
Last update: Tue, 17 Jan 2017 08pm

Taxation: World

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The United States on Friday indicted three former Takata executives, bringing the first criminal charges in a scandal over exploding airbags that caused the largest auto safety recall in US history. The individuals, who left the Japanese company in 2015, were charged with fraud for hiding the flaws in the airbags, according to documents filed in federal court in Michigan.
Malawian tax authorities on Friday closed the offices of the country's biggest media firm, the Times Group, which has been critical of the government and investigated controversial maize contracts. The Malawi Revenue Authority (MRA), accompanied by heavily armed police, shut the group's offices in Blantyre, Malawi's business capital, over allegations of tens of thousands of dollars in unpaid taxes.
The European Commission on Wednesday proposed restoring tariff concessions for imports from Sri Lanka after scrapping them for seven years, as the new government pledged to improve human rights. The executive body of the 28-member European Union said it proposed to lift import duties on goods from the island in exchange for its commitment to rights and good governance.
US regulators on Tuesday moved to impose hefty tariffs on certain large residential washing machines made in China, saying American manufacturers such as Whirlpool Corp have been harmed by products imported from China at below fair value. The US International Trade Commission voted to impose final duties on the products of up to 52.5 percent following a Commerce Department probe last year.
Panama said Tuesday it will hold talks with France in the coming days, after Paris confirmed the Central American country was back on its blacklist of tax havens because of the Panama Papers leak. The discussions were to highlight progress Panama has made in boosting transparency and co-operation in tax matters, Panama's foreign ministry said in a statement.
A nation-wide collapse of the US customs service computer system left thousands of passengers lined up at airports awaiting clearance to officially enter the country, the authorities and US media said Monday. "Customs and Border Protection has nation-wide outage. Expect delays in passenger processing until the system is restored," Fort Lauderdale's airport, a major hub for the United States and Caribbean, said on Twitter.
Argentina's new Treasury Minister Nicolas Dujovne said he would propose a broad tax reform focused on slashing taxes on salaries and banking in interviews with La Nacion and other local papers published on Tuesday. Dujovne officially joined the government on Monday, a week after center-right President Mauricio Macri fired Finance Minister Alfonso Prat-Gay citing differences in management style and split his job into two ministries, treasury and finance.