Feb 22, 2012 - Banking secrecy remains secure at home
Switzerland’s tax dispute with foreign countries would disappear overnight were it to lift banking secrecy completely rather than gradually.
Feb 22, 2012 - Banksters' paradise? Switzerland to unveil clean money plan
Under a 'clean money' strategy, which finance minister Eveline Widmer-Schlumpf is expected to present to the cabinet on Wednesday, banks will be obliged to get foreign clients to declare they are compliant with their home tax regimes.
Feb 16, 2012 - Oldest Swiss private bank is newest U.S. target
The U.S. Justice Department has since expanded its criminal investigation to 11 Swiss banks, including Wegelin, Credit Suisse and Basler Kantonalbank, and Swiss officials are seeking a settlement for the entire Swiss banking industry - more than 300 banks.
Feb 15, 2012 - A Hard Transformation For Swiss Banks
Julius Baer recently said it expects to pay a fine to resolve the matter, while Credit Suisse took a litigation provision of 295 million Swiss francs ($322 million) against last year's third-quarter earnings related to the matter.
Feb 15, 2012 - Ambassador believes worst may be over in tax row
My sense is that a few of the banks involved would turn over the data if they were allowed to under Swiss law. So far they don’t feel that they are allowed to and are awaiting a resolution between the two governments.
Feb 13, 2012 - Swiss banks seen as victims of own tradition
“It’s not just the banks which have easily earned a lot of money thanks to banking secrecy, but also the authorities, which have eagerly banked massive tax revenues from the banking sector. Politicians therefore weren’t interested in asking too many questions,” Vogler underlined.
Feb 13, 2012 - 5 Nations Join U.S. In Tax Evasion Crackdown
That means key details on accounts held in U.S. financial institutions by residents of France, Germany, Italy, Spain and the United Kingdom will be transparent.
Feb 13, 2012 - UBS denies helping US in tax probes of other banks
"Documents relating to the closing out of accounts were only available in a fraction of the roughly 4,700 cases," UBS said, adding that either clients still held accounts with UBS at the time or they had given information directly to U.S. officials or asked UBS to do so.
Feb 13, 2012 - UBS 'ordered' to give data on rivals in US tax probe
In a statement, UBS said it had been ordered to hand over to Swiss financial regulator Finma client data including, in some cases, instructions relating to the closure of accounts.
Feb 13, 2012 - Julius Baer ready to pay fine to avert US probe
“We expect we will probably have to pay a fine, but have the resources to satisfy a solution,” Baer Chief Executive Boris Collardi told a news conference as the bank announced 2011 results and a share buyback on Monday.
February 9, 2012 -US IRS Hones Long Process Of Tightening Noose For Tax Eva
It’s just IRS Form 8938. No reason to panic, at
least not yet as the IRS delicately and gently sweet-talks Germany,
Italy, Spain and the UK to catch their American visitors in the act of
hiding their income.
February 9, 2012 -US IRS Hones Long Process Of Tightening Noose For Tax Eva
It’s just IRS Form 8938. No reason to panic, at
least not yet as the IRS delicately and gently sweet-talks Germany,
Italy, Spain and the UK to catch their American visitors in the act of
hiding their income.
February 9, 2012 -Levin and Conrad try to close $155 billion in tax “loopho
On Tuesday, two Democratic U.S. senators — Carl Levin and Kent Conrad — piled a laundry list of long-standing proposals into their “Cut Unjustified Tax Loopholes Act.”
February 9, 2012 - U.S. enlists 5 EU nations in offshore tax cra
he U.S. Treasury Department on Wednesday enlisted five EU nations to help crack down on offshore tax evasion by Americans and ease the burdens the effort has imposed on many banks and financial institutions.
February 9, 2012 - U.S. enlists 5 EU nations in offshore tax cra
he U.S. Treasury Department on Wednesday enlisted five EU nations to help crack down on offshore tax evasion by Americans and ease the burdens the effort has imposed on many banks and financial institutions.