Cum-ex tax fraud: German police carry out raids in four states

The German Finance Ministry has revealed a plan to ease income tax in response to spiraling inflation. However, critics had claimed the measures would benefit top earners the most, and squeeze public spending.

Chancellor Olaf Scholz has announced a tax reduction on gas as the war in Ukraine drives up prices. Until 2024, the lower tax rate of 7% will be charged, not 19%. Scholz also promised more support for consumers.

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have reaped the benefits of high oil and gas prices. It's a move many countries are considering - although the UK's new Prime Minister Liz Truss has ruled it out.

A federal appeals court has allowed the US Justice Department to resume its review of sensitive records seized from Donald Trump’s Mar-a-Lago estate.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

Economist Jayati Gosh believes a windfall tax is a "no-brainer". "The difficulty is how do you establish how much is windfall? It's very complicated," Ghosh tells FRANCE 24. She is a professor of economics at the University of Massachusetts Amherst and the newly appointed co-chair of the Independent Commission for the Reform of International Corporate Taxation.

A government plan calls for a tax on Spain's "big fortunes" would help offset inflation relief measures to assist low and middle-income Spaniards.

The currency took a beating from investors after the government announced plans to cut billions in tax revenues. The new Conservative Party government under Prime Minister Liz Truss has been in power for just 20 days.

There is a run on the pound and panic in the markets over the UK's biggest tax cut for the rich in half a century. New Prime minister Liz Truss taking the concept of 'going for broke' to a whole new level with an almighty gamble that the deficit will take care of itself once all the investment pours in.

UK Prime Minister Liz Truss admits she "could have laid the ground better" for her plan to reduce taxes for the wealthy. Four weeks into the job, she faces scrutiny from her own party over her handling of the scandal.

Vladimir Putin poses with Moscow's four proxy leaders of eastern Ukraine provinces annexed this Friday in a ceremony at the Kremlin. For the Russian president, it is not mission accomplished but rather no going back in a war directed at Ukraine and the West.

Just ten days after presenting his controversial mini-budget, UK Finance Minister Kwasi Kwarteng has had to retract one of its key features. Those with annual incomes above £150,000 will not see their taxes cut in the end. The U-turn comes after days of market turmoil and political pressure.