September 25th, 2009
The New York Times is reporting that another US private banking client (Juergen Homann) of UBS has pleaded guilty in a tax evasion case. According to the
NY Times:
In court filings, federal prosecutors accused Mr. Homann of deliberately failing to submit a form known as an F-bar in 2007 disclosing his UBS accounts and of using a foundation in Liechtenstein, a noted tax haven, to conceal the trail. The filings said that Mr. Homann concealed $5 million from United States tax authorities by shifting that amount from his UBS account to a sham...
September 25th, 2009
According to a leaked draft communique, the G20 will be proposing more sanctions on tax havens. According to the
Times of London:
The G20 summit in Pittsburgh is expected to announce a further clamp down on tax havens, according to a draft of the group’s communiqué.
Keep your fingers crossed!
September 17th, 2009
The Guardian--Jersey's compliance with international financial regulation and supervision rules is rated ahead of the UK, according to a detailed study by the International Monetary Fund (IMF).
Continue Reading
September 8th, 2009
In its statement to the G20 this weekend, Oxfam International highlighted the need to crack down on tax havens as a development and human rights imperative. From
Oxfam:
Reforming tax havens alone could release $160bn, reallocating an already agreed IMF bailout could free up another $89bn, and introducing a currency transaction tax could raise at least a further $30bn – each a significant sum to help poor people suffering in the crisis.
The money is desperately needed to prevent the crisis derailing efforts to reduce poverty as developing countries suffer job...
