Switzerland must adopt a position on sharing bank client data with foreign tax authorities more quickly than originally thought and cannot hold back until all other countries have introduced the practice, its finance minister told a Swiss newspaper. So far, 42 countries have declared an interest in automatically sharing information… – Continue reading
UK Government and HMRC Crack Down on Secret Bank Account Tax Evasion. Here, International Monetary Fund (IMF) Managing Director Christine Lagarde (L) chats with Osborne before the G20 round table meeting in Sydney.Reuters Britain’s government and its taxman have announced the net is closing on people who are evading tax… – Continue reading
The U.S. Senate Permanent Subcommittee on Investigations will hold a hearing on a crackdown on offshore tax evasion that has stalled as prosecutors conduct criminal probes of 14 banks, including Credit Suisse Group AG. (C:US) The hearing will focus on “the status of efforts to hold Swiss banks and their U.S. clients… – Continue reading
The United States permanent subcommittee will be holding a hearing as they try to solve issues surrounding offshore tax evasion as prosecutors conduct criminal probes of 14 banks including credit Suisse Group AG. According to a statement by the committee, the focus will be on the status efforts to hold… – Continue reading
Deal comes as federal authorities escalate criminal probe into allegations Credit Suisse and other Swiss banks helped U.S. clients duck taxes on assets in offshore accounts. Credit Suisse is paying $196 million and admitting wrongdoing to settle civil charges it violated federal securities laws by providing financial advisory services to… – Continue reading
It’s a u-turn, but unavoidable: bankers and politicians are preparing for the automatic exchange of tax information. Switzerland has helped develop the new standard, which the OECD wants to fast-track worldwide. The days when Swiss finance ministers said banking secrecy was non-negotiable and carved in stone are over. Switzerland has… – Continue reading
NEW DELHI: Continuing its crackdown on black moneymenace, India has entered into an agreement with Switzerland for liberal interpretation of identity requirements for gathering information about illicit funds stashed away by its citizens in Swiss banks. “Government has also signed a mutual agreement with government of Swiss Confederation for liberal interpretation of the… – Continue reading
Switzerland must adopt a position on sharing bank client data with foreign tax authorities more quickly than originally thought and cannot hold back until all other countries have introduced the practice, its finance minister told a Swiss newspaper. So far, 42 countries have declared an interest in automatically sharing information… – Continue reading
Singapore’s wealth management industry grew 22 percent in 2012 to 1.63 trillion Singaporean dollars ($1.29 trillion US), and its share of global offshore wealth is expected to outstrip Switzerland by 2020, according to data from WealthInsight, an industry research group. Learning from the recent scandal when Swiss banks, including UBS… – Continue reading
Swiss banks are set to be in Capitol Hill’s crosshairs next week over tax evasion. Sen. Carl Levin, a Michigan Democrat, is planning to lead the latest tax-evasion hearing in the permanent subcommittee on investigations, which he heads. The focus this time is the status of efforts to hold Swiss… – Continue reading
Thousands of Swiss bank account holders and others have already come forward to settle unpaid UK tax bills and avoid costly tax penalties – but the LDF window won’t be open for ever. The Liechtenstein Disclosure Facility (LDF) was launched in 2009 and continues to be available until 5 April 2016. It… – Continue reading
Finance Minister Michael Spindelegger had hinted that Austria might be happy to exchange data on bank account holders with EU countries even is similar agreements have not been finalised with Switzerland and Liechtenstein. Austria and Luxembourg had come under criticism in December after they previously said they will block EU… – Continue reading
