August 24th, 2009
In the lead up to the G20 meeting in London this past spring, people from all over Europe
descended on the small island of Jersey to raise awareness of its role as a tax haven. Filmmaker Zoe Young has now turned her footage of the event into a great
video called "Banking in the Shadows .. a Trip to Jersey." Check it out:
August 24th, 2009
Tax Justice Network USA put out a number of recommendations for the US Government following the announcement of the
settlement in the UBS case. In case you haven't seen it yet, TJN recommends that the US:
- Insist that the issue of cross?border tax evasion be on the agenda of the September G?20 Summit in Pittsburgh.
- Push for immediate international action to facilitate increased tax information exchange.
- Press for mandatory standards of bank behavior enforced by home governments that preclude assisting in cross border tax evasion.
- Use the UBS disclosures to prepare and serve additional "John Doe" summonses on other banks known...
August 19th, 2009
The IRS has now
posted the final documents from its settlement with UBS on its website. For those interested, they can be found below:
The full
statement from the IRS is pasted below:
August 19th, 2009
The
Wall Street Journal is reporting that the landmark settlement in the UBS legal battle will require the Swiss banking giant to disclose information on 4450 individuals resulting in the disclosure of information on 10,000 of the 52,000 American accounts held by the bank. It is additionally being reported that UBS will not be paying a fine. From the
WSJ:
UBS AG will hand over some 4,450 names of U.S. account holders as part of a U.S.-Swiss tax-evasion settlement and investigation that could produce in total 10,000 account identities, according to people...
