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Thirty-four nations disclosed a finalized model plan Monday to regularly share financial data for tax enforcement purposes as part of a broader crackdown on tax dodgers and offshore jurisdictions.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
The U.S. Justice Department seizes digital funds tied to an Internet black market, Republicans line up behind effort to fight FATCA and more, in this week's news roundup.
China prohibits the trading of bitcoins by financial institutions over money laundering concerns, the U.K. closes 100 suspicious Bank of Cyprus accounts, and more, in this week's news roundup.
Financial trade groups are asking the U.S. Treasury Department for more time to comply with intergovernmental agreements intended to shine a light on bank accounts held by American tax dodgers.
A Geneva court's ruling clearing the way for bankers to know whether their employers have identified them to American investigators threatens to complicate a negotiated U.S.-Swiss tax deal, say sources.
Swiss financial institutions will likely exploit gaps in a bilateral agreement between the United States and Switzerland to preserve bank secrecy for their clients, says the bestselling author of a book on money laundering.
An expected pitch Friday by Switzerland's executive branch to clear the way for banks to share data with the United States is likely to face stiff domestic challenges, say Swiss attorneys.
A plan to require member-states of the European Union to automatically exchange tax-related data in an effort to boost government revenues is likely to face political and logistical challenges.
The indictment of a now-defunct Swiss financial institution and threatened charges against the country's largest publicly-owned bank fueled Switzerland's decision last month to seek a broad data-sharing agreement with American officials.
A plan approved Wednesday by Argentine lawmakers to entice tax dodgers to repatriate their assets will also motivate international bankers to ask questions of their counterparts in the country.
The U.S. Internal Revenue Service's criminal division will open more investigations into members of an anti-government group that refuse to pay income tax, according to a senior agency official.
The U.S. crackdown on tax evasion that began with the UBS AG settlement is prompting widespread changes in how foreign banks serve American clients and bringing individual bankers under greater scrutiny.
The Internal Revenue Service's anti-money laundering division is in the process of revamping how it examines tens of thousands of money services businesses, according to a former U.S. Treasury Department official.
Two U.S. lawmakers and a coalition of small businesses called Tuesday for stricter requirements on collecting beneficial ownership data as part of an effort to clamp down on corporate tax avoidance.
A U.S. Justice Department criminal investigation of HSBC Holdings Plc clients suspected of tax evasion may prove easier to prosecute than its case against UBS AG accountholders, say tax attorneys.
Many tax havens have done the bare minimum to remove themselves from an intergovernmental group's list of regulatory-lax jurisdictions, at times only signing tax treaties with other bank secrecy countries.
The chairmen of the Senate Finance and House Ways and Means committees unveiled legislation Tuesday designed to help the I.R.S. find tax evaders with assets housed in offshore jurisdictions.
As many as a dozen countries are expected to press UBS AG for information on tax evaders following the bank's settlement last week with the United States, say tax analysts.
The United States and UBS AG said Wednesday that they had reached an agreement over whether U.S. investigators could access data on the bank's tax evading American clients.
