Sanctioned Russian oligarch Roman Abramovich must be investigated over the £1bn he could owe, a group of MPs has urged HMRC. In a letter to the tax authority, Joe Powell, a Labour MP who leads a Parliamentary group on fair taxation, refers to BBC reports raising questions about whether tax is due on offshore investments.

And yet photographs from Christmas Day that year show Mr Abramovich in the Caribbean sunshine, standing on the swim platform at the rear of the yacht, with Eclipse's large letter-E logo behind him. Charter records such as this were part of a decade-long scheme to mislead tax authorities,

A three-day meeting of U.S. House Republicans, meant to jumpstart President Donald Trump's $4 trillion tax cut agenda, ended on Wednesday without a deal as party fiscal hawks refused to move ahead unless the plan reduced the $1.

House Republicans are actively exploring how they can score the deficit cost of extending Trump's 2017 tax cuts by using multiple sets of accounting standards. Why it matters: Depending on the standard,

President Donald Trump pitched the idea of eliminating the federal income tax entirely to instead tariff and tax foreign nations "to enrich our citizens."

President Donald Trump is calling for the elimination of federal income tax, advocating for a shift to a tariff-based revenue system. He argues that this approach, which he says previously made the US “richer” and a more “powerful” economy,