Financial Regulatory Forum

U.S. extends tax amnesty deadline to October 15

By Reuters Staff
September 21, 2009

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich July 1, 2009. By Kim Dixon

WASHINGTON (Reuters) – U.S. authorities will extend an amnesty program for taxpayers who have income hidden in offshore accounts by three weeks to October 15, citing pleas from tax professionals who say they could not handle the numbers of individuals rushing to take part.

UBS warns US clients as tax amnesty deadline nears

By Reuters Staff
September 18, 2009

The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich July 1, 2009. By Kim Dixon
WASHINGTON, Sept 18 (Reuters) – UBS AG has formally warned wealthy American clients that secret Swiss accounts may be revealed to U.S. tax authorities after the Wednesday expiration of an amnesty program that could give them immunity from prosecution.

U.S. tax evaders rush to beat amnesty deadline

By Reuters Staff
September 14, 2009

By Kim Dixon
WASHINGTON, Sept 14 (Reuters) – Rich Americans who have evaded taxes by hiding foreign holdings have about a week to turn themselves in to an Internal Revenue Service amnesty program or gamble they will not be caught.
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Monaco, U.S. sign tax cooperation deal

By Reuters Staff
September 9, 2009

Monaco's Prince Albert II WASHINGTON, Sept 8 (Reuters) – The tiny city-state of Monaco, once on an international black list of the tax havens, signed a deal on Tuesday to abide by international norms in exchanging information about U.S. citizens who may be evading taxes by keeping money offshore. (more…)

France asks banks for more foreign transfer details

By Reuters Staff
September 8, 2009

PARIS, Sep 8 (Reuters) – France wants its banks to provide more details on the identity of people transferring money to tax havens and wants a new legal framework to be finalised by the end of September, the budget ministry said on Tuesday. (more…)

INTERVIEW – France sees G20 shifting its way on financial regulation

By Reuters Staff
September 1, 2009

France's Economy Minister Christine Lagarde is seen during an interview with Reuters at the Economy Ministry in Paris September 1, 2009.  REUTERS/Charles Platiau By Anna Willard
PARIS, Sept 1 (Reuters) – France is optimistic about upcoming G20 meetings because many leaders, including British Prime Minister Gordon Brown, have moved closer to the French position, Economy Minister Christine Lagarde said.

France says would back Swiss removal from OECD tax “grey list”

By Reuters Staff
September 1, 2009

PARIS, Sept 1 (Reuters) – Switzerland has made a major effort in terms of transparency on tax issues and France would support its eventual removal from the OECD’s grey list, Economy Minister Christine Lagarde said on Tuesday.

UBS to disclose U.S. bank details, others face scrutiny

By Reuters Staff
August 19, 2009

SWITZERLAND/ By Jason Rhodes and Kim Dixon
BERNE/WASHINGTON, Aug 19 (Reuters) – Switzerland will hand over details of about 4,450 UBS bank accounts to U.S. authorities, settling a tax dispute that has threatened Swiss banking secrecy, the two governments said on Wednesday.

U.S. targeting American clients of UBS for criminal tax evasion

By Reuters Staff
August 18, 2009

USA/UBS By Tom Brown
MIAMI, Aug 18 (Reuters) – The United States is building criminal cases against more than 150 American clients of Swiss bank UBS as part of a crackdown on tax evasion now made easier by a deal over access to secret account information. (more…)

UBS tax deal may pave way for bank’s recovery

By Reuters Staff
August 18, 2009

By Jason Rhodes
ZURICH, Aug 18 (Reuters) – Details of a landmark settlement of the U.S. tax case against Swiss bank UBS are expected this week, which should help the bank restore its image and open the way for the Swiss state to sell its UBS stake. (more…)