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European Union to close tax havens

Sat, 17/05/2008 - 09:15 by MT Bureau

Brussels -- Finance ministers from the European Union have agreed to rewrite rules on savings tax in an effort to curtail tax havens, EU's tax commissioner said Friday.

Tax Commissioner Laszlo Kovacs the new rules would be sensitive to Germany's input in the wake of a tax fraud investigation that encompassed 1,400 people, 600 of them from Germany, the EU Observer reported.

The changes would improve communication between banks and "orient the commission in what way we can … formulate amendments of the directive to close the loopholes, Kovacs said.

Germany estimates it losses $46 billion a year in tax fraud each year, the report said.

Copyright 2008 by United Press International.

Let Uncle Sam Pick Up the Tab for Your Green Lifestyle

Wed, 23/04/2008 - 11:11 by Dan Caplinger

Want to keep the planet and your portfolio green? The Fool shows you how in our special series on Earth-friendly investing.

What could be better than saving on energy costs by making energy-efficient improvements to your home? Getting Uncle Sam to pay for it.

Taxes: True or False?

Thu, 20/03/2008 - 19:13 by Selena Maranjian
Ever hear someone relate an outrageous tale they heard from a friend? At Snopes.com, such "urban legends" are debunked (except for the few that are true -- those are bunked).

When It Pays to Be Tax-Free

Thu, 13/03/2008 - 19:20 by Todd Wenning
Investors who keep their cash in savings accounts have seen their interest rates cut quite sharply over the past few months. ING 's (NYSE: ING) ING Direct and HSBC 's (NYSE: HBC) HSBC Direct online savings accounts, for example, now shell out just 3.1% and 3.55% APY, respectively -- down from more than 4.5% last year.

Can You Make Money Paying Your Taxes?

Sat, 08/03/2008 - 19:28 by Selena Maranjian
Do you love doing your taxes? Me too. And the day we dread -- April 16 -- is not that far away, when we'll no longer be so focused on our taxes, and we'll have to wait another 11 to 12 months before preparing our next returns. It's awful, isn't it?

Tricks

Fri, 07/03/2008 - 14:36 by Dan Caplinger
It's a scene that too many people repeat every year: sitting at your desk on April 14, hunched over a pile of papers and forms, trying to make heads or tails of your taxes before the filing deadline.

Higher Credit Card Rates May Be Lurking in Your Mailbox

Thu, 28/02/2008 - 19:38 by Selena Maranjian
You'd think that an economic environment chock-full of interest rate cuts from the Fed would lead credit card issuers to gradually decrease the rates they charge us on our plastic. But no -- many cards have actually been raising their rates recently. Bill Hardekopf of LowCards.com, for example, has noted rates moving in directions other than down at cards from American Express (NYSE: AXP), JPMorgan Chase (NYSE: JPM), and Bank of America (NYSE: BAC).

4 Steps to Cut Credit Card Debt

Tue, 12/02/2008 - 19:48 by Dan Caplinger
When you're in debt, your finances can get overwhelming in a hurry. Just coming up with enough to make your minimum monthly payments on loans and credit cards can push you to the limit.

4 Tips to Make Your Tax Season Easier

Sat, 02/02/2008 - 18:31 by Motley Fool
With the tax-filing season rapidly approaching, taxpayers can foresee a number of complications that may make their lives more difficult. Here are some tips on what to expect from this crazy year in the tax world, and how you can make the most of it.

Wash Sales and Your IRA

Thu, 31/01/2008 - 19:16 by Motley Fool
IRAs give investors a lot of tax advantages. But after some taxpayers tried to push their limits, the IRS has reined them back in.

Catch a Rising NuStar

Wed, 30/01/2008 - 19:31 by Toby Shute
Are you down with MLPs? Master limited partnerships, which are tax-advantaged, high-yielding investment vehicles, were a hot commodity in 2007. In response to high demand, particularly from institutional investors, everyone from Devon (NYSE: DVN) to Pioneer Natural Resources (NYSE: PXD) began looking at ways to package predictable cash-generating assets into MLPs.

6 Ways to Spend Your Rebate

Wed, 30/01/2008 - 00:37 by Mary Dalrymple

I don't know about you, but I've made several plans for spending my tax rebate. At the top of the list is me sipping a fruity drink on a white-sand beach with a mystery novel in hand, watching the sun set in a cascade of purples and pinks.