Financial Transparency Coalition

There is an ongoing saga of good versus evil. Valiant governments, with proud leaders at their helms, are devoted to bringing down the wicked tax havens and the conniving men and women who hide money on their shores. One day, we will tell the tale of how these governments reigned victorious, dismantling the shadow financial system, and restored the money to the rightful people of their nations. If only. Banking secrecy is no fairy tale. In the system of international tax evasion, the valiant heroes are just as guilty as the wicked witches. In a report to...

Sarah Lewis, the executive director at the Tax Justice Network, discusses what the UBS settlement will mean for offshore banking on Reuters.

The final documents from the US settlement with UBS.

The IRS has now posted the final documents from its settlement with UBS on its website. For those interested, they can be found below:

• U.S.-Swiss Government Agreement
• Declarations
• Bank Agreement
• Offshore Tax Avoidance and IRS Compliance Efforts

The full statement from the IRS is pasted below: