Offshore Switzerland Latest Information

Offshore Switzerland Latest Information

Treasury Proposes Easing Offshore Bank Tax Compliance Burden
The U.S. Treasury Department and the Internal Revenue Service are trying to make it easier for overseas banks to comply with a tax withholding and information- collection requirement for some U.S. clients.

Treasury May Ease Offshore Bank Tax Compliance Burden
The U.S. Treasury Department and the Internal Revenue Service are trying to make it easier for overseas banks to comply with a tax withholding and information- collection requirement for some U.S. clients.

Glencore-Xstrata deal unsettles Swiss left wing
ZURICH (Reuters) - Financial haven Switzerland risks a fresh hit to its reputation from the proposed mega-merger between opaque commodities giants Glencore and Xstrata, left wing groups warned. The Alpine nation is struggling to restore its tarnished image as the United States cracks down on hidden offshore accounts held by wealthy Americans in secretive Swiss banks. Many of the world's leading ...

Swiss Bank Wegelin Charged With Helping U.S. Clients Evade Taxes
Wegelin & Co., the 270-year-old private bank, became the first Swiss lender to face criminal charges in a broadening U.S. crackdown on offshore firms suspected of helping Americans evade taxes.

Julius Baer ready to pay fine to avert U.S. probe
ZURICH (Reuters) - Julius Baer is prepared to pay a fine to escape an escalating U.S. crackdown on offshore bank accounts after last week's indictment of smaller rival Wegelin raised tension among Swiss private bankers. "We expect we will probably have to pay a fine, but have the resources to satisfy a solution," Baer Chief Executive Boris Collardi told a news conference as the bank announced ...

IRS’s New Amnesty Program for Undisclosed Offshore Account Holders Comes at a Critical Time: Swiss Banks Turn Over U.S ...
IRS launches a third amnesty initiative, the 2012 Offshore Voluntary Disclosure Program. Kevin E. Thorn encourages U.S. taxpayers with undisclosed offshore accounts to come into compliance in light of new developments between U.S. authorities and Swiss banks.Boston, MA (PRWEB) February 06, 2012 On January 9, 2012 the Internal Revenue Service (IRS) reopened its Offshore Voluntary Disclosure ...

Secrecy key to offshore accounts linked to Hot Lotto case
Secrecy is the main reason people stash cash in offshore accounts like the one that would have received a Hot Lotto jackpot worth millions, according to Iowa tax and accounting professors. In this case, secrecy was more important than the money. The trust that held the ticket for a jackpot worth $7.5 million after taxes [...]

Three UBS Clients Accused of Hiding Offshore Money From IRS
Three ex- UBS AG (UBSN) clients, including two who ran venture capital firms, were indicted on charges of hiding millions of dollars in assets from U.S. tax authorities through the use of secret offshore accounts.

U.S. indicts Wegelin bank for helping Americans avoid tax
(Reuters) - The United States indicted Wegelin, the oldest Swiss private bank, on charges that it enabled wealthy Americans to evade taxes on at least $1.2 billion hidden in offshore bank accounts, the U.S. Justice Department said on Thursday. The announcement, by federal prosecutors in Manhattan, represents the first time an overseas bank has been indicted by the United States for enabling tax ...

Noble Corporation to Announce Fourth Quarter and Full Year 2011 Results
ZUG, Switzerland , Jan. 16, 2012 /PRNewswire/ -- Noble Corporation (NYSE: NE - News), a leading offshore driller, today announced that the Company plans to report financial results for the fourth quarter and ...

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