Posts tagged as:

Switzerland

UBS Settles with IRS

12 August 2009

Um, that’s all we know. Really. I’ve been sent a trillion links on this today and despite pages and pages of content, nobody has any real details. The IRS has requested the names of more than 50,000 US taxpayers with accounts at UBS. The Swiss bank handed over about 300 names so far. So I’ll [...]

3 comments Read the full article →

No UBS Settlement So Far

8 August 2009

Despite wide rumors that UBS might settle with the US government, there was no movement on the matter. The case, brought by the US government, focuses on the release of names of more than 50,000 US taxpayers who might have hidden assets in Switzerland for the purpose of evading tax. This time it is the [...]

0 comments Read the full article →

UK Tries Out Amnesty for Offshore Accounts

29 July 2009

In an effort to recover income from funds that might have been hidden offshore, the US introduced a Voluntary Compliance Program that offers reduced civil penalties and no criminal penalties. At the time, IRS Commission Doug Shulman described the program as stating: The goal is to have a predictable set of outcomes to encourage people [...]

0 comments Read the full article →

Ask the taxgirl: Swiss Military

8 July 2009

From just this morning! Taxpayer asks: I was going to leave a comment on your post this morning but it’s more of a question. Is it true that the Swiss do not have a military? I ask because I thought that all of these countries that losing tax money to the Swiss are the ones [...]

4 comments Read the full article →

Holes in Swiss Tax Case: Swiss Claim Tax Evasion Not a Crime

8 July 2009

As it turns out, the Swiss do have a little fight left in them after all. The Swiss government has now advised that it would seize financial records from UBS rather than allow them to be turned over to the US. The Swiss Department of Justice and Police filed a statement in federal court advising [...]

4 comments Read the full article →

Are the Feds Backing Off UBS?

23 June 2009

The New York Times says yes. The Justice Department says no. I’m not sure what to believe but it does make you wonder what’s going on… The Times has suggested that the DOJ may back off its investigation of more than 52,000 über rich Americans who held secret accounts at the Swiss bank, UBS, citing [...]

5 comments Read the full article →

Oh Yeah?! Well, Your Cheese Stinks!

11 May 2009

Germany, like the US, has been highly critical of countries considered to be tax havens. Mostly, those are countries outside of Europe with financial and banking secrecy laws meant to woo (mostly) westerners with the lure of escaping taxation. There are a few notable exceptions within Europe: Luxembourg, Liechtenstein and Switzerland. All three are small, [...]

2 comments Read the full article →

G-20 Ready to Make a Statement About So-Called “Tax Havens”

2 April 2009

For years, it was believed that you had to be mega-rich to have accounts in exotic locations. Switzerland, for example, was the millionaire’s playground. Billions and billions of dollars were *allegedly* stashed in secret accounts, “safe” from the probing fingers of Uncle Sam. Along with Switzerland, countries such as Liechtenstein, developed successful industries based on [...]

1 comment Read the full article →

UBS Accused of Being a Tattle-Tale

26 February 2009

Alp? Check. Chocolate? Check. Banking secrecy? Not so much. The culture of Switzerland may be changing. At the forefront of the change may be its uber-secret banking laws. Switzerland is being forced to re-examine the way it does business in response to pressure from a number of countries, including the US, the UK and Germany. [...]

2 comments Read the full article →

UBS Chair Indicted on Tax Evasion Charges

13 November 2008

Raoul Weil, the UBS bank chair and CEO of global wealth management, has been indicted on charges relating to tax evasion. He is accused of helping US taxpayers hide nearly $20 billion (yes, with a b) in assets from the IRS. After the indictment was made public, Weil, not surprisingly, agreed to step down from [...]

4 comments Read the full article →

← Previous Entries

Next Entries →