August 17th, 2009
The Prince of Liechtenstein, Hans-Adam II, has
enraged German Jews (and rightfully so) by reiterating the misnomer that banking secrecy was created to protect the Jews from the Nazis during the Holocaust. However that's only half of his problem; unlike most other disseminators of this untruth, he then pointed his finger back at Germany (who is currently pursuing tax-evaders into Liechtenstein) and outrageously suggested that they should consider their own past. From the
AP:
The prince took aim particularly at Germany, which has been pressuring Liechtenstein to clamp down on confidential banking...
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
GENEVA — Liechtenstein's reigning prince has angered German Jews by invoking the Holocaust to defend his country's banking secrecy laws, drawing sharp reactions Monday.
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