Switzerland and Italy sign pact after long dispute over tax evasion 24/02/2015 The long-running wrangle between Italy and Switzerland over undeclared Italian private funds being shifted across the border into Swiss private banks, the traditional way for Italians to avoid tax, came to a resolution with an agreement by the two countries on a tax information exchange agreement.
Have HSBC's Republic National and Safra Republic acquisitions destroyed value? 10/02/2015 thewealthnet is not one of the 50 media outlets around the world that received copies of the thousands of pages of HSBC client data along with the International Consortium of Investigative Journalists, the Guardian and the BBC from Le Monde, a French newspaper. So it is unable to establish both the nature and provenance of the claims that HSBC helped its Swiss private banking clients to evade tax or launder money. More information will almost certainly come to light in the plethora of legal actions that are either ongoing, or will almost certainly be unleashed as a result of the information contained in the documents.
UK parliament to probe HSBC tax claims 10/02/2015 The UK Parliament is to hold hearings into allegations that HSBC operated Swiss accounts for years in order to aid widespread circumvention of taxes by clients.
US launches new evasion probe into UBS - report 05/02/2015 US federal prosecutors have launched a new inquiry into whether UBS helped Americans evade taxes through investments banned in the US, the Wall Street Journal reported, citing people familiar with the investigation.
US businessman fined $4 million over secret Swiss account 30/01/2015 A wealthy US businessman, George Landegger, has pleaded guilty to failing to file Reports of Foreign Bank and Financial Accounts (FBARs) with the IRS regarding secret Swiss bank accounts that he maintained and controlled at a Swiss private bank headquartered in Zurich, Switzerland.