August 18th, 2009
ZURICH (Reuters) - Details of a landmark settlement of the U.S. tax case against Swiss bank UBS are expected this week, which should help the bank restore its image and open the way for the Swiss state to sell its UBS stake.
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August 17th, 2009
Globes Online, an Israeli business publication, has an article today detailing how the US crackdown on offshore tax evasion has reached Israel:
The war that US President Barack Obama is waging against concealment of assets and tax evasion, and the legislation against tax havens that he has been promoting, is extending beyond the borders of the US and liable to affect people who hold accounts at banks in Israel. Under us regulations, a US citizen who fails to report by the end of September 2009 any account worth more than $10,000 held in a non-US...
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August 17th, 2009
Wealth Bulletin is carrying a fascinating story today about the growing number of wealthy US tax-evaders that are surrendering their passports and renouncing their citizenship in the wake of the recent US crackdown on tax evasion:
Private client lawyers and relocation specialists are reporting a surge in wealthy Americans living abroad who are prepared to give up their citizenship to avoid the scrutiny of US tax authorities.
Although such a move means they have to pay an exit tax, lawyers say this is a price people have become more willing to pay...
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August 17th, 2009
The U.S. crackdown on clients of UBS AG is widening into a global hunt, with the government detailing in court documents how the Swiss bank and outside advisers helped Americans hide money using enterprises set up in Hong Kong.
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