UBS Whistleblower Gets $104 Million (Links to an external site.)Links to an external site.
The Wall Street Journal Now a Felon, Former Banker Told U.S. About Tax-Evasion Tactics by UBS and Its Wealthy Clients A former UBS AG banker who helped the U.S. government unleash an international crackdown on tax evasion was awarded $4 million in what is believed to be the largest ever span whistleblower payout to an individual.
Credit Suisse Pleads Guilty in Criminal Tax Case (Links to an external site.)Links to an external site. The Wall Street Journal Credit Suisse Group AG became the first financial institution in more than a decade to plead guilty to a crime Monday when the Swiss bank admitted it conspired to aid tax evasion and agreed to pay a.6 billion to settle a long-running probe by the U.S. Justice Department.
Uber Warehouses for the Ultra Rich (Links to an external site.)Links to an external site. The Economist Ever more wealth is being parked in fancy storage facilities. For some customers, they are an attractive new breed of tax haven
The Panama Papers Scandal (Links to an external site.)Links to an external site. Panama Papers The Wall Street Journal
Panama Papers (Links to an external site.)Links to an external site. at a glance: What are the Panama papers? A huge batch of reports late Sunday linked 140 public figures, executives and celebrities around the world to overseas assets in offshore tax havens ranging from the British Virgin Islands to Panama. Iceland’s prime minister has resigned, while Russian President Vladim
Putin’s spokesman deflected criticism. More political pressure is likely to follow.
Directions:
Read the WSJ articles above that show the scope of offshore tax evasion.Write a response in Word on the history or developments of these Swiss bank cases and/or the effect on the Swiss bank secrecy laws and the IRS’s efforts to curb offshore tax evasion via John Doe summons’s and OVDI initiative. and new FATCA rules.
