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E.U. TAX DIRECTIVE DEATH HELPS SWISS BANK SECRECY
ZURICH. European Union attempts to force Switzerland to give up banking secrecy may fail as the US government says no to the EU tax plan.More on this story here.
Swiss National Bank cuts rate to weaken strong Swiss franc.More on this story here.
$4.8 million from Swiss bank accounts surrendered; jail avoided.More on this story here.
The Center for Freedom & Prosperity gives the inside story on the Bush administration's rejection of the EU savings tax directive.More on this story here and here.
BRITISH TAX COLLECTORS CLAIM IRELAND IS TAX HAVEN
LONDON. UK Inland Revenue declares low tax Ireland a tax haven, excluding it from double taxation treaty rights.More on this story here.
JERSEY WARNED OF BAD P.R.
ST. HELIER. Consultant says Channel Island's image drives away talent.More on this story here.
GIBRALTAR OCTOBER REFERENDUM SET
In spite of UK and Spanish opposition to a vote, the Rock will vote on its own future in October, rejecting split sovereignty.More on this story here.
RUSSIA: NEW INVESTMENT FRONTIER?
Oil, banking, farming, the nation's economy is humming. Business Week's International Edition special report.More on this story here.
BAHAMAS TERRORIST BANK? WASHINGTON WON'T PROVE IT.
NASSAU. Attorney for Bank Al-Taqwa demands proof of US charges of terrorist cash, and Washington says just believe us.More on this story here and here.
URUGUAY UP AGAINST THE WALL
MONTEVIDEO. The 'Switzerland of South America' sees US$5 billion in bank deposits (33% of total), flee in the last 6 months.More on this story here.
Is Latin America turning left politically?More on this story here.
NEW ZEALAND LABOUR KEEPS MINORITY CONTROL
AUCKLAND. Another minority coalition; Labour gets only 41%.More on this story here.
THOUSANDS OF SAUDI PASSPORTS GONE
RIYADH, Saudi Arabia. 5,610 Saudi passports stolen or lost in 8 months.More on this story here.
U.S TAX INSURANCE LOOPHOLE ALLOWS BIG TAX SAVINGS
The NY Times anti-wealth writer reveals what the very rich already know; $1 spent on life insurance can cut $9 in estate, gift taxes.More on this story here.
1 in 1000 Americans earned over $200,000 and paid no taxes.More on this story here.
USA was born in a tax revolt. A history of US taxation.More on this story here.
IRS INVESTIGATES TAX SHELTER FIRMS
They want to know if law firms should have registered as tax shelter promoters.More on this story here.
U.S. POLICIES HELPED TERROR MONEY LAUNDERING
US emphasis on banks money laundering role prompted use of hawala, the terrorists' favorite cash conduit.More on this story here.
JAPANESE TAX COLLECTORS LOOK OFFSHORE
TOKYO. Claim billions of un-taxed yen stashed in tax havens.More on this story here.
FINANCIAL FRAUD WAY UP IN U.K.
LONDON. Total value of fraud cases increased 2½ times to £255m.More on this story here.
SUIT LINKS OFFSHORE SCAM TO SPORTS NAMES
BIRMINGHAM, Alabama. The Millennium Fund promised high returns as a developer of offshore casinos.More on this story here.
LEADING HOUSE REPUBLICAN BLAST EU/IRS TAX PLANS
WASHINGTON. In a highly significant move, the powerful chairman of the US House Ways & Means (Tax) Committee publicly demands the Bush administration state its position against the EU 'savings tax directive' and an IRS-proposed foreigners US income reporting rule.More on this story here.
US Treasury spokesman confirms US opposition to EU directive.More on this story here.
U.S. CONGRESS TARGETS TAX HAVEN COMPANIES
WASHINGTON. Politicians target US corporate tax refugees.More on this story here.
'Bermuda tax loophole' under more legislative scrutiny.More on this story here.
SHAKY BAHAMAS STOCK EXCHANGE
NASSAU. The government may bail out floundering BISX.More on this story here.
GIBRALTAR REVEALS NEW TAX PLANS
Corporate tax cuts, changes to take effect July 1, 2003.More on this story here.
MORE ABOUT IRELAND AS A U.K. DESIGNATED TAX HAVEN
LONDON. Irish subsidiaries of UK companies must satisfy tests or Irish profits will be double taxed by both the UK and Ireland.More on this story here.
SAUDI ARABIA ON BRINK OF COLLAPSE?
Anti-government protest demonstrations; funds flee to Liechtenstein. Will Al Qaeda take over the government and rule its own nation?More on this story here and here.
HOW BIG 5 OFFSHORE ACCOUNTING FIRMS AVOID REGULATORS
Major offshore accounting firms have devised their own careful corporate structures to avoid showing their files to any government regulators.More on this story here.
U.S. OFFSHORE INTELLECTUAL PROPERTY TAX RULES CHANGED
Offshore tax break curb may be part of anti-offshore political frenzy.More on this story here.
GREENBACK ON ITS BACK?
Forbes recommends euro-denominated investments now.More on this story here.
What about the lawyers' role in corporate scandals?More on this story here.
MILLIONS LOST IN SHAM OFFSHORE FUND
The Millennium Fund was a mirage that hurt many.More on this story here.
INSIDE STORY OF THE NIGERIAN E-MAIL FRAUD
NPR delves into the history of too-good-to-be-true frauds.More on this story here.
SWITZERLAND DAY CELEBRATION
ZURICH. 711 years as a confederated nation, neutral and at peace.More on this story here and here.
Dirty cash accused Swiss ambassador stays in jail.More on this story here.
Swiss won't yet assist Argentina in Menem bribery probe.More on this story here.
ANOTHER BANK LEAVES PANAMA
Societe Generale, 2nd largest French bank, shuts down.More on this story here.
BRITISH VIRGIN ISLANDS CHANGE ASKED
ROAD TOWN, BVI. Colonials ask more local power from British Foreign Office, revised constitution. Income tax to end in 2004.More on this story here.
BERMUDA INCORPORATIONS DROP
HAMILTON. Number lowest since 1999, decline for the 2nd quarter in a row; weak markets, expatriation controversy to blame.More on this story here and here.
IBM buys Pricewaterhouse consulting, Bermuda company plan dropped.More on this story here.
I.R.S. WANTS SCALED DOWN FOREIGN TAX REPORTING
WASHINGTON. Warmed over Clinton plan regs proposed by IRS.More on this story here and More on this story here.
LATIN AMERICA IN TROUBLE?
Latin American economies 'vulnerable'.More on this story here.
Uruguay bank freeze extended.More on this story here.
Brazil's Real falls to lowest level.More on this story here.
BRITISH TURN AGAINST EURO
LONDON. Anti-euro mood hardens among Brits.More on this story here.
HEDGE FUNDS DISAPPOINT
Despite a bear market, hedge funds struggle to do well.More on this story here.
ANOTHER REASON TO GO OFFSHORE
US court ruling on ERISA greatly expands employers' liability.More on this story here.
U.S. SEIZES TEXAS HOUSE OF PHONY OFFSHORE SHEIK
FORT WORTH. Feds grab property linked to offshore investment fraud.More on this story here.
MONEY LAUNDERING 101
Ten common violations of anti-money laundering laws.More on this story here.
PATRIOT Act bank surveillance software ready to spy.More on this story here.
U.S. TAKES OUT DEBT CONSOLIDATION LOAN
WASHINGTON. Plagued by late fees, high interest rates, harassing creditors, the US takes out a debt consolidation loan combining the nation's $6.1 trillion debt into a single, easy monthly payment.More on this story here.
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