Although the United States was the first country to undergo the process of extracting the names of tax-evading secret accountholders, France has followed suit in its crusade against French tax evaders. The European country, which has expressed its desire to be among the lead players in the global financial system, has managed to acquire over 3,000 names, many of which it suspects of tax evasion.
 
France has given the 3,000 suspected tax evaders a chance to come forward and accept their punishment, promising to take proper action against them if they choose to not come forward instead. The move comes after …read more

Last week, Switzerland’s UBS AG bank and the United States reached a deal that would allow the United States to finally be able to do something about taxpayers who hide their money in secret Swiss bank accounts. However, several Swiss financial experts have criticized the deal, stating that it will only cause an increase in pressure from other countries on Swiss secret banking.
According to Swiss banking expert Hans Geiger, the deal only benefits the IRS and the Swiss bank that created the deal, and that the rest of his country and its economy will only suffer from the deal. He …read more

Switzerland’s president, hand-Rudolf Merz has asked United States officials to drop a lawsuit that’s seeking to make Swiss bank USB to turn over information about 52,000 of its American clients. Under Swiss law, disclosing bank client names is a criminal offense. The Justice Department wants the names because of suspected tax evasion.
Swiss officials instead hope to negotiate new tax laws that would fix current United States tax problems in the future. Swizterland and the United States hope to begin negotiating a new treaty on Tuesday that would allow for information disclosure, since the current treaty from 1996 doesn’t require such …read more

GoldMoney clients now have the option of storing their precious metal funds in London or Zurich. Diversification reduces risk. Both vault locations are insured by Lloyd’s of London.