Posted on 09/01/2014 5:46:49 AM PDT by Beave Meister
ZURICH (Reuters) - At least 10 Swiss banks have withdrawn from a U.S. program aimed at settling a tax dispute between them and the United States, Swiss newspaper NZZ am Sonntag said on Sunday, quoting unnamed sources.
Around 100 Swiss banks came forward at the end of last year to work with U.S. authorities in a program brokered by the Swiss government to help the banks make amends for aiding tax evasion.
"At least 10 banks that had decided at the end of 2013 to pay a fine have withdrawn their decision," NZZ am Sonntag said, quoting unnamed lawyers and auditors. It did not name the banks concerned.
The newspaper said the banks were convinced they had not systematically broken U.S. law and lawyers of the U.S. Department of Justice had actually been surprised to see them take part in the program and did not object to the banks leaving the program.
(Excerpt) Read more at news.yahoo.com ...
I wonder how many Yankee dollars are stashed in Swiss banks ?
Additionally, the Swiss are placing an embargo on Army knives
Particularly since their constitution is based on ours.
I don’t know, but I’m sure it’s safe to say their will be a lot more than their was yesterday.
This comes s no surprise. If all banks were open to scrutiny, the rest of us might find out where the politicians have been stashing all the “stimulus”, “tarp” and other money they continue to steal from us. The trillions these “leaders” have blown (hidden) in the last few years sure didn’t go for the intended purposes. Criminal government inhabited by criminals.
“Particularly since their constitution is based on ours.”
I would think it would be the other way around.
Cue the photo of John Roberts heading for that bank in Malta.
With US banking and tax law designed to ferret out hidden dollars I’m guessing lots of dollars are in those banks, but stashed would be not so much. I’m also guessing that Caribbean banks have taken over what the Swiss used to be famous for, after the Swiss were coerced into giving up, (ratting out) their US depositors to the IRS.
The current Swiss Constitution was voted in place in 1874.
Not as many as you'd think. When America started going after foreign banks believed to be "hiding" or "sheltering" American dollars from American taxation, many foreign banks literally kicked out their American customers and refused to take any new American accounts.
You should know (if you don't already) that America is the ONLY COUNTRY IN THE WORLD that taxes its citizens no matter where they live OR WORK in the world.
I had an offer some years ago to EXPAT and do some work in the Netherlands and Belgium. Among the reasons I didn't do it: DOUBLE and in some cases TRIPLE taxation. I'd have to pay the taxes for each country I'd worked in PLUS because I'm an American, I'd have to pay America's confiscatory tax rates also.
We do in fact have the WORST taxation in the civilized world. We're the ONLY country that taxes it's citizens on all money made abroad. At least that's my understanding.
I think Eritrea does as well.
Grand Cayman
Did they finally realize that 0 is a communist and that he wants their money?
There is a growing International movement to end the euphemistically named Federal Reserve’s stranglehold on monetary control. The Brix nations will soon be able to tell the Fed to eat their dollars, they will no longer be held captive to the globalist bankers’ oligarchy which surfaced with an evil intent way back inn 1913, on Jekyll Island, GA.
The comment by Nicole on the yahoo thread is worth reading.
Said that the fedgov is demanding info on the Swiss bank’s own employees and they blew up
God bless Switzerland. Keep standing up to Obama.
If you stay out of America for an extended time (one year, I think) then you don’t have to pay US taxes on earned wages.
Eritrea does but it is only 2% and goes to infrastructure reconstruction fund after many years of war.
You are exempt on the first $97K you earn abroad before Obama has his hand out. But you would still have local country taxes to pay.
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