Swiss parliament rejected a bill designed to resolve a dispute over undeclared bank accounts held by U.S. citizens, potentially setting the stage for American prosecution of the country’s banks. Members of parliament’s lower house voted 123 to 63 against the bill, which would have allowed Swiss banks to cooperate with the U.S. Show More Summary
Scrooge McDuck isn't like other plutocrats—instead of storing his cash at a Swiss bank or in a Cayman Islands offshore account, Scrooge kept his gold coins, precious gems, and other plunders in a giant piles that he would frequently dive into and swim in. Show More Summary
Either Edward Snowden has a fantastic imagination or the CIA has completely overstepped international norms to get at U.S. citizens’ Swiss bank accounts. As reported from tax-news: Swiss Foreign Minister Didier Burkhalter has underlined...Show More Summary
One of the many lurid details in The Guardian’s remarkable interview with NSA whistleblower Edward Snowden was his account of what initially prompted him to leak: By 2007, the CIA stationed him with diplomatic cover in Geneva, Switzerland. Show More Summary
Swiss bank secrecy is beginning to sound like jumbo shrimp. Now, the Swiss government has changed the law so banks can disclose account data. It is being hailed as a watershed event. See Switzerland to Allow Its Banks to Disclose Hidden Client Accounts. But is it? It seemed inevitable that Switzerland, once known for its [...]
New York Times DealBook: Switzerland to Allow Its Banks to Disclose Hidden Client Accounts, by Lynnley Browning: The Swiss government said on Wednesday that it would allow its banks to disclose information on American clients with hidden accounts, a watershed move intended to help resolve a long-running dispute with the...
ZURICH (Reuters) - Credit Suisse's chairman warned that a long-running tax dispute with the United States over hidden Swiss bank accounts could easily escalate and spill over to rivals if not settled.
I came across this in Le Figaro, trying to keep my hand in at French. It doesn't seem to be getting much play in the American press. But Le Figaro is pretty much this story all down the home page....
France's Socialist foreign minister was today forced to deny that he has a secret Swiss bank account aimed at hiding his money from the taxman.Laurent Fabius, a former Prime Minister, was reacting to a report in the left-wing Liberation...Show More Summary
The latest scandal to hit the monarchy has exposed the existence of various Swiss bank accounts under the names of the king of Spain and other members of the royal family, with a total balance of more than 4 million euros.
Socialists in France are in shock at the revelation that the French Government's budget minister - Jerome Cahuzac (JC) - had 600,000 Euros in a secret Swiss bank account. Sacre bleu! - as they say across the Channel. I bet Gerard Depardieu...Show More Summary
The troubling political outlook for French President François Hollande darkened further April 2, after his former austerity-enforcing Budget Minister Jérôme Cahuzac admitted to possessing a secret Swiss bank account whose existence he previously denied. Show More Summary
It was only yesterday that we wrote about comparable problems to those which Russian depositors may (or may not be?) suffering in Cyprus right, this time impacting wealthy Americans and their Swiss bank accounts, where as a result of...Show More Summary
ZURICH (Reuters) - The Swiss government on Sunday denied a newspaper report that the country had reached a deal in principle with the United States over undeclared funds hidden by wealthy Americans in Swiss offshore bank accounts.
One of the most enduring myths associated with Swiss banks is the money of “unknown” origin that has been hidden in their coffers for generations. Due to a number of laws enacted in the past 15 years, Switzerland’s financial institutions...Show More Summary
Accounting Today, Swiss Bank Wegelin to Pay $58M for Conspiring to Evade Taxes Bloomberg, Wegelin Must Pay $58 Million in U.S. Tax Prosecution Forbes (Janet Novack), IRS Yanks Criminal Amnesty Deal From Taxpayers With Secret Bank Leumi Accounts Forbes (Robert W. Wood), Swiss Bank's Tax Evasion Sentence Is Really Death...
A recent Wall Street Journal article titled “Offshore Tax Probe Picks Up” shows the Feds continuing to go after Swiss banks both big and small. The government has also expanded their search for U.S. tax cheats in countries such as Israel,...Show More Summary
An 83-year-old Massachusetts man on Tuesday was sentenced to pay back millions in penalties and back taxes for spending years hiding his wealth from the Internal Revenue System in Swiss Bank Accounts.