The Haney Group last year advised clients of reports that the EU loses out on as much as a trillion Euros in taxes every year. Couple this with US Senators grilling Apple over its tax practices; it becomes apparent that this issue is a priority for governments as they struggle with low growth and decreasing income streams. Therefore, it comes as no surprise that leaders of the G-8 countries should be increasing efforts to tackle fraud and stop tax evasion.
“They will be exploring the topic at their summit this week. Don’t expect any changes too quickly, but they are coming,” said the CFO at The Haney Group.
“These changes will require complicated processes to effect the replacement of tax treaties on an international scale, not just by an agreement by their leaders since many rivalries and issues will be considerable factors when reaching a conclusion. The governments are starting to fully realize the large amounts of lost revenue at stake. It is an issue that must be addressed by investors at The Haney Group.
We are counselling clients to help them structure firm pathways that will help them to steer clear of any controversies,” commented the Senior Analyst and Chief Financial Officer at The Haney Group.
The Haney Group noted the comments made recently by EU Commission President Manuel Barroso who in his statement stated that the EU states are missing out on tax revenue equal to nearly double their collective annual budget deficits!
“That is a huge amount of money to simply let through the net. Furthermore there are a number of high profile companies that have been brought to public attention in recent times; Apple, Starbucks, Amazon and even Google and they are facing hard questions from officials probing financial details concerning registrations and taxes:” advised the CFO repeating the advise he had given to his investment team to inform clients of The Haney Group.
“The Haney Group is urging investors to look to the future and with our expert guidance and experience plan to chart a course for customers within this sea of political uncertainty to maintain a solid stance. The G-8 leaders are just the first group of countries to lift an outcry, and others will follow soon. We are using our research to design strategies for clients to offset any of the problems that will occur due to changing treaties and laws,” added the Chief Financial Officer at The Haney Group.
The Haney Group Comment as G-8 Probe Shows Trillions Lost in