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Tax Fraud, Laundering Tied to Charities on the Rise: OECD Report
By Brian Monroe
printThe use of charities to evade taxes is "serious and increasing," robbing some countries of hundreds of millions of dollars per year, according to a European economic policy group. Criminals, terrorists, attorneys and tax preparers are setting up bogus charities, stealing the names of legitimate charities and overstating donations from individuals in schemes to steal and launder money, according to a 65-page report by the European Union's Organisation for Economic Co-Operation and Development's (OECD) Centre for Tax Policy and Administration. The most commonly detected schemes included registered charities willfully participating in tax evasion schemes to benefit the group's organizers and...
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