July 17th, 2009
GENEVA — Swiss authorities on Thursday lifted a 12-year freeze on nearly seven million dollars in assets the late Zairean dictator Mobutu Sese Seko held in Switzerland, allowing their return to his family.
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July 15th, 2009
Apparently nobody at Reuters read my
post yesterday about the media's skewed coverage of the OECD grey list and the signing of TIEAs. I
wrote regarding the media's coverage of Luxembourg coming off the OECD grey-list:
But there is an entirely separate side to this story that hasn’t permeated the coverage at all: the OECD standards are useless in any practical sense, and under these standards wealthy tax evaders will still feel perfectly safe stashing their money in Luxembourg. As we discuss extensively on this website – the OECD’s standards require a...
July 15th, 2009
James B. Stewart: Do you know anyone with a Swiss bank account? I don’t, which is probably no surprise since the whole point is secrecy. But evidently there are plenty of Americans who do—at least 52,000 at UBS alone—whose identities the Internal Revenue Service and the Department of Justice are trying to learn.
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July 15th, 2009
UBS AG (UBS) should pay U.S. taxes on 52,000 secret accounts held by American citizens in Switzerland as part of a settlement to a high-profile legal case between the bank and U.S. tax authorities, according to Washington-based Global Financial Integrity.
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