Offshore tax evasion investigation U.S. authorities have targeted Belize-based banks in a new expansion of their hunt for Americans suspected of evading taxes by hiding income and assets in offshore accounts. A federal court in Miami on Wednesday approved special “John Doe” legal summonses seeking information about U.S. taxpayers who may hold undeclared accounts at […]

Revenue & Customs has so far collected just £13.9m from an initiative to prise open secret bank accounts in the Crown Dependencies which was originally expected to end up raising £1bn. Just over 400 people have so far come forward to own up to previously undeclared accounts in the Isle of Man, Jersey and Guernsey, […]

Thematic Paper on Money Laundering Relationship between Money Laundering,Tax Evasion and Tax Havens. Money laundering is a very vast and complex topic, which requires a flexible and thoroughgoing political response to it. The present paper will only deal with the relationship between money laundering tax evasion and tax havens, for practical reasons and to remain […]

HMRC has secured an extra £2.7bn for the government’s coffers by clamping down on tax avoidance and evasion in the last year, its annual accounts have shown. When the extra is accounted for, the tax office clawed back a total to £26.6bn in 2014-15, up from £23.9bn the previous year. Tax evasion as, opposed to […]

After a six year long criminal investigation by the U.S. Department of Justice, Credit Suisse AG pleaded guilty in federal court on May 19, 2014 to federal charges that it had engaged in a decades long criminal conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the […]

More people are going to prison for tax evasion in the UK, according to official statistics, although the average length of these jail terms has fallen over the past four years. It can be seen that HMRC is making broader use of its prosecution powers and pushing for the maximum penalty in a wider range […]

The US Federal Reserve has barred five Swiss bankers from participating in the banking industry. The bankers were all criminally indicted in the US in 2011 for their alleged role in the tax evasion conspiracy that Credit Suisse pleaded guilty to last year. The bankers have remained safe from extradition and have yet to voluntarily […]

Tensions between Swiss banks and the United States justice authorities should ease up in 2015, Finance Minister Eveline Widmer-Schlumpf has said on the sidelines of the joint International Monetary Fund and World Bank spring meetings in Washington. The minister said she had received positive signals that this year would bring solutions to the conflict, a […]