Europe, Middle East and Africa Oil and Gas Correspondent
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Jun 12, 2015

Doubts over EU’s proposals for saving U.S. trade deal

LONDON (Reuters) – The European Union has more work to do, experts say, if it hopes to seal a transatlantic trade deal that has been criticized for leaving governments open to international legal action from companies affected by changes to tax and regulation.

The European Commission, the EU’s executive arm, is right now negotiating a trade and investment treaty with the United States – the Transatlantic Trade and Investment Partnership (TTIP) – that it says could add 119 billion euros annually to Europe’s economy and 95 billion euros to the U.S. economy.

Jun 5, 2015

FIFA leads the field on pay

LONDON (Reuters) – Soccer’s international administrators, like players on the field, are collecting salaries that outstrip most of their peers in other sports, and no less so than at FIFA, annual accounts from governing bodies show.

Average pay and pension contributions for staff at Zurich-based FIFA, the global soccer federation which is caught up in a corruption scandal, was $242,000 per employee last year.

Jun 5, 2015

Soccer-FIFA leads the field on pay

LONDON, June 5 (Reuters) – Soccer’s international administrators, like players on the field, are collecting salaries that outstrip most of their peers in other sports, and no less so than at FIFA, annual accounts from governing bodies show.

Average pay and pension contributions for staff at Zurich-based FIFA, the global soccer federation which is caught up in a corruption scandal, was $242,000 per employee last year.

Jun 3, 2015

How to cancel a World Cup

LONDON (Reuters) – It has never been done before and no defined procedure for doing it exists but, in theory, withdrawing the right to host a World Cup from a host nation should be an easy thing to do.

Football has been in turmoil since a series of arrests last week of officials from the world governing body FIFA on U.S. Department of Justice allegations of bribery.

Jun 1, 2015

DirecTV monitors probe of affiliate in FIFA scandal to decide if needs to take action

June 1 (Reuters) – Satellite TV company DirecTV said
it is monitoring the U.S. Department of Justice investigation
into corruption in world soccer to determine what actions might
be necessary in relation to an affiliate at the center of the
graft allegations.

U.S. prosecutors have accused Torneos y Competencias S.A, in
which DirecTV has a stake, of participating in schemes to secure
television rights to football games through bribery.

May 28, 2015

Elite group of British-born residents enjoy ‘non-dom’ tax haven

LONDON, May 28 (Reuters) – At least 800 British-born United
Kingdom residents enjoy “non-domiciled” status, a tax break
intended for temporary residents, according to data released in
response to a Freedom of Information Act request by Reuters.

Lawmakers said the information highlighted the need to
change the tax rules to ban so-called “hereditary non-doms”,
where parents can pass on the tax privilege to their children.

May 26, 2015

Amazon’s Europe changes to boost tax bill, add secrecy

LONDON (Reuters) – Amazon’s decision to change its tax-efficient European business structure could raise its tax bill by as much as $100 million a year but authorities will have to fight for additional money and any payments will be hidden from public view.

Amazon has become one of the highest profile targets of an international drive against tax avoidance that has gained pace in Europe in recent years.

May 26, 2015

Amazon pays $16 million tax in Germany, while making $11.9 billion sales

LONDON (Reuters) – Internet retailer Amazon.com Inc.’s main German operating unit paid just 11.9 million euros ($16 million) in tax in 2014, despite the group recording $11.9 billion in sales to German customers last year, regulatory filings show.

Germany is Amazon’s biggest market outside North America, its annual report shows, but until recently all sales and almost all profits were reported via lightly taxed Luxembourg companies.

May 26, 2015

Amazon pays $16 mln tax in Germany, while making $11.9 bln sales

LONDON, May 26 (Reuters) – Internet retailer Amazon.com
Inc.’s main German operating unit paid just 11.9
million euros ($16 million) in tax in 2014, despite the group
recording $11.9 billion in sales to German customers last year,
regulatory filings show.

Germany is Amazon’s biggest market outside North America,
its annual report shows, but until recently all sales and almost
all profits were reported via lightly taxed Luxembourg
companies.

May 22, 2015

Special Report: Britain’s home-grown tax haven

LONDON (Reuters) – One hallowed feature of Britain’s finances is a tax break for individuals called “non-domiciled status.” The break, which is more than 200 years old, is designed to attract foreign investors by allowing them to keep wealth they make abroad out of the reach of the British tax authority. Tax specialists say Britain is the only developed country to have such a system.

But a Reuters analysis shows that some “non doms,” as they are known, have also found a way to use the status to avoid tax on money made in the United Kingdom.

    • About Tom

      "Tom leads our coverage of the oil and gas industry in Europe, the Middle East and Africa and is also author of 'Spills & Spin: The Inside Story of BP'. A former oil broker who turned to journalism 12 years ago, he is regularly interviewed on CNBC and other TV and radio stations on energy matters. Tom has reported from over twenty countries including Iran, Iraq, India, Pakistan, Tanzania, the U.S. and Russia. As Europe, Middle East and Africa Oil & Gas Correspondent, he has chartered the rise in oil prices to record levels, interviewed oil ministers and the CEOs of ..."
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