How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Friday 31 October 2014
- Mr Grumpy v Angeles Duran
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Citi faces fine on derivatives deals
Citigroup is expected to be fined $600,000 (379,000 pounds) by the Financial Industry Regulatory Authority over derivatives transactions that helped foreign clients avoid taxes on dividends, a source familiar with the matter said on Sunday.
The fine is expected to be announced on Monday, the source said, declining to be identified because it is not yet public.
The development comes as governments around the world crack down on tax evasion as they look to close widening budget gaps fuelled by economic weakness.
The centerpiece of the U.S. tax recovery effort has been its legal case against Swiss banking giant UBS AG, which earlier this year agreed to pay $780 million to settle criminal claims that it helped U.S. citizens evade taxes.
A Citigroup representative was not immediately available for comment.
FINRA declined to comment.
The Financial Times first reported the news.
Latest News & Stories
- EC Approve EU16 Mln Paramount Murcia Subsidy
- Google offer free 1 minute phone calls betweek Spain - UK
- Spain's most popular driving infractions : DGT report
- Spain to block watered-down Catalan vote on independence
- Pensioners sue Bank in Spanish IHT swindle
- Orange Spain brings 4G to Lorca, Murcia
- Banco Popular posts 2% rise in nine-month profit
- Spain to see Google Tax effective Jan 1st
- Spain 2nd highest inequality in the EU : Oxfam
- Spain's consumer prices fall by 0.1% in Oct