Financial Transparency Coalition

WASHINGTON – Roberto Cittadini of Bellevue, Wash., pleaded guilty today to filing a false tax return, the Justice Department and Internal Revenue Service (IRS) announced. Cittadini appeared today before Magistrate Judge Mary Alice Theiler in Seattle and accepted responsibility for concealing nearly $2 million in Swiss bank accounts. According to court documents and statements made in court, Cittadini, a retired sales manager for Boeing, failed to report income from bank accounts under his control at UBS AG in Switzerland on his individual income tax returns from 2001 through 2003. Additionally, Cittadini failed to file a Report of Foreign Bank...

Global Financial Integrity has just released a statement highlighting the good and bad aspects of the new Swiss-US tax treaty that was released this week. While the treaty takes a major step forward from the OECD model by explicitly stating that domestic laws do not trump the treaty, it fails to address the problems posed by exchange of tax information upon request. Check out GFI's full statement below:

Information Exchange Shortcomings in U.S.-Swiss Tax Agreement

New protocol signed Wednesday does little to enhance U.S. ability to...