The U.S. Department of Justice (DOJ) said late Thursday that Zurich Insurance wi...
FILE PHOTO: A general view of the Department of Justice building is seen ahead of the release of the Special Counsel Robert Mueller's report in Washington, U.S., April 18, 2019. REUTERS/Amr Alfiky
ZURICH - The U.S. Department of Justice said late Thursday that Zurich Insurance will pay a penalty of $5.1 million to the United States in a case involving insurance policies and accounts used by U.S. customers to evade taxes. “From Jan. 1, 2008, through June 30, 2014, Zurich issued or had certain insurance policies and accounts of U.S. taxpayer customers, who used their policies to evade U.S. taxes and reporting requirements,” DOJ said in a statement.
“Zurich had approximately 420 U.S. related policies...with an aggregate maximum value of approximately $102 million, for which the U.S. taxpayer customers did not provide evidence that they had declared their policies to U.S. tax authorities,” it added.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's How Bernie Sanders Earned Nearly $5 Million In The Past 10 YearsWhile the sums might be modest relative to some of the wealthiest officials in Washington, the Sanders' income is substantial in comparison to the average American
Read more »
Here's How Bernie Sanders Earned Nearly $5 Million In The Past 10 YearsThe Sanders’ income, listed on tax returns they file jointly, increased dramatically after Bernie's 2016 presidential campaign by ChaseWithorn
Read more »
Trump properties have earned nearly $5 million from Republican groups, campaigns since president's electionPrior to 2015, Trump properties never earned more than $80,000 from political spending.
Read more »
Lawyer files $5-million claim, saying L.A. City Hall rat problem caused her illnessA Los Angeles city attorney who says a City Hall rat infestation caused her to contract flea-borne typhus has filed a $5-million legal claim, saying Mayor Eric Garcetti & other officials allowed trash outside her office to become a threat to public health.
Read more »
Facebook says the FTC privacy inquiry could cost as much as $5 billionFacebook reported $15.08 billion in revenue, beating Wall St. expectations. However, the social media giant is taking a $3 billion legal expense related to the ongoing FTC investigation.
Read more »
Facebook expects FTC fine could be as much as $5 billionFacebook posts a rare profit decline as it expects a looming fine from the Federal Trade Commission could be as much as $5 billion
Read more »
Facebook warns that its U.S. privacy punishment could hit $5 billionThe FTC said last year it was investigating reports that the British consulting firm Cambridge Analytica improperly gained access to the data of tens of millions of Facebook users.
Read more »
Here's why Facebook is paying a fine of $3 billion to $5 billionAs part of a 2011 agreement with the FTC, Facebook agreed to get users' consent before sharing their data with third parties, like Cambridge Analytica.
Read more »
Facebook says settling FTC investigation could cost up to $5 billionFacebook estimates that it will cost as much as $5 billion to resolve a U.S. investigation into its privacy practices, as the social-media giant moves to put the fallout from the Cambridge Analytica scandal behind it.
Read more »
Facebook beats profit estimates, sets aside $3 billion for privacy penaltyFacebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe
Read more »