Tax Havens // Current TV

Overseas tax havens

American companies are finding new overseas tax havens to legally protect some of... more

11dim
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6 months ago
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TAX HAVENS PROCESS HALF THE GLOBAL ECONOMY !

WHY DO WE HAVE HUGE DEBTS? BECAUSE CONGRESS HAS HELPED CREATE AND SUSTAIN... more

COMMONSENSEFORCOMMONGOOD_COM
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10 months ago
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13 comments

IIlicit cash outflows cost Africa $1.8 trillion in 38 years

A new study released yesterday in Washington DC, United States of America (USA) by the... more

Flare_Network
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1 year ago
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Tax havens & currency speculation Pt.4

Sony Kapoor on the rise of Goldman Sachs and the need to democratize the economy

therealnewsnetwork
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2 years ago
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Tax havens & currency speculation Pt.3

Kapoor: A depression of wages and real demand will lead to a more radical recession

therealnewsnetwork
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2 years ago
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Tax havens & currency speculation Pt.2

Kapoor: Closing tax havens could pay for health care

therealnewsnetwork
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2 years ago
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Tax havens & currency speculation

Kapoor: Tax currency speculation, close off-shore tax havens and raise tax on unearned... more

therealnewsnetwork
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2 years ago
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Nearly 15,000 Enter Into Settlement With IRS Over Foreign Accounts

Deputy Attorney General David W. Ogden released the following statement regarding the announcement today by the Department of Justice and the Internal Revenue (IRS) regarding the results arising from previous settlements of civil and criminal cases against Swiss banking giant UBS AG.

The Justice Department and IRS announced that over 14,700 taxpayers have come forward to report previously-undisclosed foreign bank accounts under the voluntary disclosure program the IRS implemented following the settlement. This figure represents almost double the initial numbers the IRS announced in October and dwarfs the number of voluntary disclosures received in 2008.

“The Department of Justice is pleased with the extraordinary results achieved from this landmark settlement,” said Deputy Attorney General Ogden. “The message to American taxpayers is clear: the era of bank secrecy and hidden assets is over. We will continue to work closely with the IRS and our international partners to ensure that our tax laws are enforced fully and fairly, and that the rule of law is vindicated. We congratulate the IRS and the Department’s Tax Division, as well as our partners in the Swiss government, for this achievement.”

These voluntary disclosures, while extremely significant, are but one more step in the IRS and the Department’s efforts to hold those U.S. taxpayers who have undisclosed foreign accounts responsible for their actions. These efforts began in February 2009, with UBS AG’s agreement to enter into a groundbreaking deferred prosecution agreement, admitting guilt on charges of conspiring to defraud the United States by impeding the IRS. As part of the agreement, UBS immediately provided the United States with the identities of, and account information for, a number of U.S. UBS customers and paid $780 million in fines, penalties, interest, and restitution. The Department’s Tax Division worked hand-in-hand with the U.S. Attorney’s office in the Southern District of Florida to obtain these unprecedented results.

To date, the Justice Department has successfully prosecuted six U.S. customers of UBS whose information was provided pursuant to the Deferred Prosecution Agreement, and is conducting investigations of dozens of other UBS customers.

In addition to the deferred prosecution agreement, in August of this year, the IRS, the Justice Department, UBS and the Swiss Government, entered into a similarly landmark agreement, in the John Doe summons action, whereby the IRS was to receive thousands of additional undisclosed UBS accounts.

These criminal and civil efforts have, for the first time, breached Swiss bank secrecy and prevented taxpayers from hiding from the IRS regardless of the cross border nature of their accounts. Within the United States, there has been an unprecedented increase in the number of taxpayers who have come forward to voluntarily disclose the existence of their foreign bank accounts and agree to pay tens of millions of dollars to the treasury.

The Department of Justice and IRS also made public the criteria set out in the settlement reached in the civil John Doe summons suit against UBS, which governed the selection of account holders to be identified as part of the settlement. The criteria cover accounts of various amounts and types, including bank-only accounts, custody accounts in which securities or other investment assets were held and offshore company nominee accounts through which an individual indirectly held beneficial ownership. These criteria allow the IRS and the Justice Department to target the most egregious foreign account holders.

http://pubrecord.org/law/6080/nearly-15000-citizens-enter-settlement/Deputy Attorney General David W. Ogden released the following statement regarding the... more

WakeUpPeople
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2 years ago
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1 comment

US tax amnesty nets 7,500 tax dodgers

A United States tax amnesty, part of a campaign to crack down on perceived tax havens... more

WakeUpPeople
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2 years ago
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15 comments

Do we pay too much for our cheap goods? « The Quotidian

Everyone loves a good bargain, but what are the low prices at IKEA and other big-box... more

khsing
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2 years ago
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5 comments

How tax havens helped create the financial crisis

Banks employ large teams of highly paid people to devise transactions mainly for the... more

atomiclegion
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2 years ago
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1 comment

OBAMA FACES OPPOSITION FROM DEMS ON TAX HAVEN PLAN

President Barack Obama's plan to end tax breaks for U.S.-based multinational... more

atomiclegion
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2 years ago
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0 comments

WTF: Republicans Defend Tax Havens Against Obama Crackdown

President Obama and Treasury Secretary Tim Geithner plan to announce on Monday a... more

atomiclegion
added this
2 years ago
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4 comments

Obama Seeks to End Tax-Haven Strategies That Save Multinational Corporations $190 Billion

Even though I would guess that 99.9% of Americans support this type of legislation, I... more

tbowman131
added this
2 years ago
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2 comments

Obama Proposing Outlawing Tax Haven Rules That Save Companies $190 Billion

President Barack Obama will propose today to outlaw three offshore tax-avoidance... more

atomiclegion
added this
2 years ago
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3 comments

Tax Havens: Hidden hand in the financial crisis

January 8, 2009 ANP: A look at how offshore financing helped to enable the economic... more

Vierotchka
added this
3 years ago
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10 comments

Off Shore Stash Led to Crash?

This video is a great summary of one of the root causes in the economic meltdown in... more

armkaleka
added this
3 years ago
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4 comments

Tax Havens: The Hidden Hand in the Financial Crisis

The financial crisis seems as if it emerged from nowhere and struck as hard and fast... more

lagan
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3 years ago
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0 comments

Super-Rich Tax Cheats

The disgruntled Liechtenstein man who ratted out super-rich tax dodgers and sold the... more

Vierotchka
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3 years ago
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1 comment

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