Tax & Legal

Members of the European Parliament (MEPs) approved stricter rules to close existing gaps in combating money laundering, terrorist financing and evasion of sanctions in the EU.

The Supreme Tax Court has upheld a lower court ruling absolving a bank officer from liability for his complicity in supporting the probable evasion of tax on interest income by customers.

The "Black Money Act" requiring rueful tax evaders to come forward at an earlier stage with a full admission of their misdeeds is now in force.