Friday, January 26, 2018

Tax Crimes Related News from Davos (1/26/18)

Some tax crimes related news on the Davos World Economic Forum, here.

Switzerland asks US to swiftly conclude proceedings against Swiss banks (The Economic Times 1/26/18), here.  Excerpts:
Switzerland today asked the US to swiftly conclude proceedings against some Swiss banks for better banking activities, as its President Alain Berset met his American counterpart Donald Trump.  
* * * * 
With regard to the banking dispute, the Swiss delegation explained that it would be beneficial for bilateral business activities if the proceedings against Swiss 'Group 1 banks' were to be concluded swiftly.  
This would provide greater legal certainty and open up fresh economic opportunities. The separation of powers is to be respected, as per the statement.  
Some Swiss banks are facing regulatory action from the US authorities for allegedly helping American citizens evade tax.
Swiss president says Trump meeting was productive ( 1/26/18), here.  Excerpt:
The tax dispute between the two countries involving Swiss banks was also mentioned, with Berset adding that it was time to turn a new page on this issue, in a move that would benefit both countries.

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