Financial Transparency Coalition

The future of Britain's tax havens is in question after a Government report raised doubts over Britain's willingness to act as a lender of last resort in future unless they raise taxes and impose new regulations on their businesses.

Britain's tax havens will be read the last rites tomorrow when a Treasury commissioned report will tell them to raise new taxes if they are to survive the economic crisis.

MIAMI — A wealthy accountant who provided extensive help in the tax evasion probe of Swiss bank UBS AG was sentenced to a year of house arrest Wednesday after admitting he concealed about $6 million in assets from the IRS.

WASHINGTON (Reuters) - A proposal to stop rich Americans from stashing assets offshore to evade taxes, by slapping penalties on individuals and foreign financial institutions, was introduced on Tuesday in the U.S. Congress.