July 9th, 2009
ZURICH (Reuters) - Investors bet on Thursday the United States would not go as far as shutting down UBS AG (UBSN.VX) there in a tax dispute, instead expecting the Swiss bank to be hit by a hefty fine as part of a swift out-of-court settlement.
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July 8th, 2009
The Washington Post published a fantastic
article today which finally addresses the fact that TIEA agreements, as stipulated by the OECD standards, do very little to crackdown on tax evasion. From the Post:
In an interview this week, a top Swiss official cited the recently negotiated treaty amendment as evidence that Switzerland is moving toward greater openness. Doris Leuthard, Switzerland's vice president and economic minister, emphasized that in the future the treaty amendment now awaiting ratification would give the United States access to information in cases of tax evasion, which are not covered by...
July 8th, 2009
Washington Post - A new treaty touted as helping U.S. law enforcement crack Swiss bank secrecy may do little to help authorities achieve a prime objective: exposing tax evaders.
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July 8th, 2009
PARIS — The Swiss government said Wednesday that it was prepared to seize U.B.S. client data rather than allow the bank to hand it over to the United States to settle a tax case.
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