The United States continued construction on what appears to be a wide net designed to catch tax evaders on Thursday by cooperating with France in the fierce global tax battle. The agreement was signed in Paris by Finance Minister Pierre Moscovici and the United States ambassador, Charles H. Rivkin. China, […]
Category: Offshore Accounts/International Tax Disputes
Pressure on U.S. tax evaders intensified on Friday as a US District Judge in New York issued an order authorizing the Internal Revenue Service to issue summonses requiring Mellon, Citibank, JP Morgan, HSBC Bank USA and Bank of America to produce information in connection with undisclosed accounts at The Bank […]
Just when foreign financial firms thought they had enough on their plates, the heat continues to rise. International pressure to catch tax evaders is expected to be ramped up by the end of 2013 as a new inter-governmental agreement that requires information on offshore U.S. accounts with balances of more […]
Swiss politicians and regulators are eager to help with on the U.S. tax evasion crackdown. Things will get interesting as the new point person for the Swiss heads to Washington D.C. for his first chat with law enforcement officials. The Swiss Department of Finance announced on Monday that Jacques de […]
Two businessmen are facing the wrath of Quebec’s revenue agency this week as the agency heaved nearly 1,000 tax evasion charges against the men and four companies. Revenue Quebec is also seeking more than $6 million in fines as well as prison sentences. The agency has filed almost 700 charges […]
Leo Messi, forward for Barcelona, has been exonerated in his tax fraud case by two tax office experts. The experts testified to the court that the Argentine did not take any part in the management of his image rights and, thus, was unknowingly not paying taxes that were to have […]
British Prime Minister David Cameron is preparing to set the stage with money laundering and tax evasion front and center. The Prime Minister plans to make public a new database of company ownership details designed to expose international money laundering and tax evasion schemes. By making the information public the […]
French lawmakers have stepped up their fight against tax evasion on Thursday by faulting several financial players, including banks that enable a flight of tax revenue estimated at $110 billion a year. Among the 34 proposals adopted in the Senate were sanctions against those who advertise services that protect money […]
Sophia Loren, Italy’s iconic actress has been fighting charges levied against her for over 30 years. In 1974 Italian officials claimed the actress attempted to evade taxes. Ms. Loren voluntarily surrendered and went to jail in 1982 for 17 days of a 30 day sentence. Ms. Loren claimed that her […]
Switzerland, known for its banking secrecy, ended that tradition on Tuesday by signing an international agreement to fight tax evasion. This marks “the end of banking secrecy” in Switzerland, the head of tax issues at the Organization for Economic Cooperation and Development, Pascal Saint-Amans, told AFP. The signing of this […]