Nov 30, 2009
As a new and unpredicted move, the media has discussed the possibility that UBS could relocate to outside of Switzerland. Allegations have surfaced that during a speech given at a closed-door Zurich Business Club event on November 26th, Oswald Gruebel, Chief Executive of UBS, told an audience of prominent business figures that if the Swiss [...]
As a new and unpredicted move, the media has discussed the possibility that UBS could relocate to outside of Switzerland.
Allegations have surfaced that during a speech given at a closed-door Zurich Business Club event on November 26th, Oswald Gruebel, Chief Executive of UBS, told an audience of prominent business figures that if the Swiss government creates too many new regulatory demands on major banks, UBS could relocate its headquarters to a more favorable jurisdiction. The chief reason behind such a move ... Read More
Nov 10, 2009
Swiss bank UBS has confirmed that the governments of the UK and Australia, amongst others, are seeking information about possible tax evasion from their own nationals. According to the notes within the UBS third quarter report, following the settlement of its case with the US Department of Justice and Internal Revenue Services, UBS began to [...]
Swiss bank UBS has confirmed that the governments of the UK and Australia, amongst others, are seeking information about possible tax evasion from their own nationals.
According to the notes within the UBS third quarter report, following the settlement of its case with the US Department of Justice and Internal Revenue Services, UBS began to receive request from other jurisdictions for similar information. The UBS report said that "In particular, the revenue services of the UK and Australia have served upon UBS and ... Read More
Oct 15, 2009
According to the US Internal Revenue Service (IRS), 7,500 offshore account holders have revealed their details in exchange for leniency on their subsequent judgment. In an effort to curb tax evasion and retrieve tax liabilities avoided through offshore accounts, the IRS is offering a tax amnesty program which sees lower penalties and prosecution avoidance for [...]
According to the US Internal Revenue Service (IRS), 7,500 offshore account holders have revealed their details in exchange for leniency on their subsequent judgment.
In an effort to curb tax evasion and retrieve tax liabilities avoided through offshore accounts, the IRS is offering a tax amnesty program which sees lower penalties and prosecution avoidance for those harboring money overseas. The program which requires submissions to be made by 5pm on October 15th, has now received over 7,500 applications. According to IRS statements, ... Read More
Sep 21, 2009
The US Internal Revenue Service (IRS) will extend the deadline for those wishing to apply for the offshore account declaration leniency program. Originally scheduled to end on the 23rd of September, the IRS’s leniency program promised to reduce penalties paid by those declaring their UBS accounts. Applications for the program have significantly increased following a [...]
The US Internal Revenue Service (IRS) will extend the deadline for those wishing to apply for the offshore account declaration leniency program.
Originally scheduled to end on the 23rd of September, the IRS’s leniency program promised to reduce penalties paid by those declaring their UBS accounts. Applications for the program have significantly increased following a settlement between the IRS and Swiss bank UBS, which saw the details of 4,450 American owned accounts promised to the IRS. According to IRS officials, over ... Read More
