August 7th, 2009
Richard Murphy
points out that Chile's government is moving towards giving up banking secrecy. From the
Wall Street Journal today:
Chile's lower house has approved a bill that would allow the national tax service to access Chileans' bank-account information and share it with other countries' tax authorities.
Late Wednesday, the house passed the bill, 72-16 with 17 abstentions, which will be sent to the Senate.
This is great news!
August 7th, 2009
The trial in the U.S. government's landmark challenge to Swiss bank secrecy was postponed Friday for a third time as the United States and Switzerland continue to pursue a negotiated settlement.
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August 7th, 2009
Global Financial Integrity has come out with recommendations today for the US government on how to proceed as the UBS case begins to come to a close. From
GFI:
U.S.-Swiss Tax Treaty: In June an amendment to the U.S.-Swiss tax treaty was agreed to but not yet ratified. Statements from U.S. and Swiss parties to the negotiations indicate that information exchange would still rely on exchange upon request and would require the U.S. to provide names of suspected tax evaders to obtain information on their undisclosed accounts. The U.S should push for...
August 7th, 2009
SANTIAGO (Dow Jones)--Chile's lower house has approved a bill that would allow the national tax service to access Chileans' bank-account information and share it with other countries' tax authorities.
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