The Swiss Bankers Association on Monday spoke out against another possible tax treaty with the United States that could force Swiss banks to divulge details of their American clients suspected of dodging US taxes.
Welcome to Andorra. Every day it's the same ritual. Cars line up to enter this tiny country of only 84,000 residents. A whopping 10 million tourists come here every year, and not just for the scenery. The principality is virtually a duty-free superstore. Some items - like cigarettes and alcohol - are up to 70% cheaper here than in France or Spain, since there is no sales tax. But with the economic crisis, the international community is cracking down on tax havens.
A bitter feud between one of France's richest women, Liliane Bettencourt, and her daughter, has become a political scandal over the past few days. It involves labour minister Eric Woerth, who is facing calls to resign after the role of his wife in helping Bettencourt manage her assets surfaced in illegally taped conversations. Florence Woerth has now announced that she will resign from her job...
A Swiss court has upheld an appeal in a ruling that could pave the way for UBS to keep the details of its clients who are US citizens secret, despite a 2009 deal to share client information with US tax authorities.
Will 2009 be remembered as a turning point in the fight against tax evasion? Germany, France and Italy have launched a campaign against tax havens. How far can the authorities go in order to stop people from hiding their savings?
Switzerland has suspended the ratification of a new dual taxation deal with France intended to prevent tax fraud following moves by French authorities to exploit stolen secret client data handed over by an HSBC Private Bank employee.
Part of a list of alleged tax evaders and money launderers being investigated by French authorities was stolen from HSBC Private Bank in Geneva, the bank has confirmed.
The week in the Americas focuses on the Cayman Islands, a little tax haven suffering from the crisis, explains the debates about homosexuality in the US army and shows how the world reacted the the Obama's peace Nobel Prize.
As world leaders increased the pressure on tax havens at the G20 summit in Pittsburgh, the Organisation for Economic Cooperation and Development said Switzerland has been dropped from its list of uncooperative tax havens.
Liechtenstein and Britain have signed an agreement to encourage British clients with secret accounts in the Alpine principality to voluntarily disclose billions of pounds of untaxed money.The deal affects about 5,000 investors.
