taxes

The Associated Press reports three former Saab executives have been arrested on charges of accounting fraud. Swedish prosecutor Olof Sahlgren has refused to identify the individuals, but says they're suspected of attempting to evade taxes by falsifying Saab accounts between 2010 and 2011 during ...

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their ...

The assessment of a gas tax and the role it plays in a state's transportation and overall budgets has been a topic of discussion for a while, and Virginia state governor Bob McDonnell is the latest to offer up another way to secure more revenue from the state's residents to pay for their roads ...

As cars get more fuel efficient, they become a less profitable source of tax dollars. So what's a city to do? Raising gas taxes is certain political death. For San Francisco Bay officials, creativity is the key. The Metropolitan Transportation Commission and Association of Bay Area Governments ...

How important is the auto industry to state and federal governments? According to the Center for Automotive Research, the industry accounts for $135 billion in annual taxes. In fact, a reported 13 percent of all state taxes comes from the automobile, or $91.5 billion in total. Just as impressive ...

Italy is dealing with a financial crisis that placed it just behind Greece on the list of dangers to the stability of the euro, and with €1.9 trillion in public debt the country hasn't hesitated to turn over its couch pillows searching for every contribution. It started a couple of years ago ...

Local manufacturing has become the watchword (or words) when it comes to foreign automakers entering the Chinese market, and for a number of reasons. For one, the market is plenty large enough to make sense out of manufacturing locally instead of importing from overseas. For another, joint ...

Former Volkswagen CEO Bernd Pischetsrieder has successfully managed to avoid tax evasion charges in Germany by agreeing to donate around $193,000 to various charities, according to Automotive News. Pischetsrieder had been charged with evading more than €230,000 in taxes between 2000 and 2003 ...

It looks like General Motors will be able to skip out on around $14 billion worth of taxes domestically and another $19 billion in taxes overseas thanks to a deal with the U.S. government. According to Edmunds, 2010 will mark the first year since 2004 that the company has operated in the black, and ...

Toward the end of the last millennium, Ford thought it might owe the IRS some money for possibly underpaying taxes between 1983 and 1994. To convince the IRS to halt the accrual of interest on any amount Ford might have underpaid, Ford gave the IRS a lump sum of cash. However, turns out that ...

To clarify, he's not taking just one fare, but a bunch of fares from all around the world. The purpose is The Extraordinary Taxi Ride, set up by the state of Western Australia's tourism office to promote what many consider a rather remote region of the world. Out of 460 cabbies who applied for ...

When gas prices rose in 2008, one of the few bits of good news was that the federal government was bumping up the business mileage deduction to 55 cents per mile. Now that gas prices have stabilized in 2009, the Internal Revenue Service has reportedly decided to cut back on some of its ...

Due to what appears to be a slight (additional) bending of the rules, the "new," post-bankruptcy General Motors has been allowed to carry the $16 billion net operating loss that was created by the "old" GM. That means that New GM will not have to pay taxes on its profits for a while, because the ...

As you're aware by now, yesterday's big news was H.R. 3435, the emergency legislation passed by the House of Representatives authorizing an additional $2B for the CARS scrappage scheme. As had been widely reported on Thursday, the clunkers program appeared to have run out of money a lot sooner than ...

Nothing is ever as simple as it seems. One prime example is the government's newly minted "Cash for Clunkers" program, or CARS (Car Allowance Rebate System) that launched yesterday. As the rebate program kicks into gear, dealers that are hoping to cash in are facing a new worry. But according to ...

Oregon ran a pilot program in 2006 and 2007 that fitted 300 cars with GPS receivers, which kept track of the cars' mileage. The receivers also kept records of when the cars were on the road, noting whether they traveled during rush hour or not. When the drivers went to several specially-equipped ...

A gas tax is about more than putting liquid into your tank and subtracting a higher amount from your bank account. A gas tax is -- just like CAFE and hybrids and $25 billion set aside to finance fuel efficient technologies -- about reworking and redefining our entire system of private ...

California isn't the only one taking aim at the pumps in an effort to raise state revenue. The Michigan state legislature is also proposing a hike in its gas tax that could potentially make its gas taxes the highest in the nation. The current nineteen cent per gallon tax on gas, and fifteen cent ...

California hasn't been able to borrow money for months, and according to the state's treasurer, it will run out of money in February or March if it doesn't pass a budget and get some income flowing. The majority Democratic legislature has sent Governor Schwarzenegger a budget that contains a suite ...

New York Governor David Paterson needs to close a $15.4-billion budget deficit, and has proposed 88 new fees and taxes to do it. One of them is aimed at New York car buyers: a 5% tax on all cars sold for $60,000 or more. Notice the phrasing "sold for," not "MSRP of". That means if you add $8,001 in ...