September 25th, 2009
Watching President Obama, President Sarkozy, and Prime Minister Brown
discuss the existence of a new Iranian nuclear facility this morning, I was eerily reminded of the
briefing by NY District Attorney Robert Morgenthau that Global Financial Integrity and the American Interest sponsored a couple of weeks ago. Mr. Morgenthau
warned of a growing relationship between Iran and Venezuela - a relationship that is fueling Iran's quest for nuclear weapons and which he believes poses a major threat to the United States.
In his remarks, Mr. Morgenthau details how Iran is setting up shell corporations and...
September 25th, 2009
The New York Times is reporting that another US private banking client (Juergen Homann) of UBS has pleaded guilty in a tax evasion case. According to the
NY Times:
In court filings, federal prosecutors accused Mr. Homann of deliberately failing to submit a form known as an F-bar in 2007 disclosing his UBS accounts and of using a foundation in Liechtenstein, a noted tax haven, to conceal the trail. The filings said that Mr. Homann concealed $5 million from United States tax authorities by shifting that amount from his UBS account to a sham...
September 25th, 2009
According to a leaked draft communique, the G20 will be proposing more sanctions on tax havens. According to the
Times of London:
The G20 summit in Pittsburgh is expected to announce a further clamp down on tax havens, according to a draft of the group’s communiqué.
Keep your fingers crossed!
September 25th, 2009
Global Financial Integrity has just released a statement highlighting the good and bad aspects of the new Swiss-US tax treaty that was released this week. While the treaty takes a major step forward from the OECD model by explicitly stating that domestic laws do not trump the treaty, it fails to address the problems posed by exchange of tax information upon request. Check out GFI's full
statement below:
Information Exchange Shortcomings in U.S.-Swiss Tax Agreement
New protocol signed Wednesday does little to enhance U.S. ability to...
