Financial Institutions and Services : Tax Haven Banks.
Brookins, Wade D.
Financial Institutions and Services : Tax Haven Banks. - 1st ed. - 1 online resource (500 pages) - Financial Institutions and Services Series . - Financial Institutions and Services Series .
Intro -- TAX HAVEN BANKS -- TAX HAVEN BANKS -- CONTENTS -- PREFACE -- Chapter 1 TAX HAVEN BANKS AND U.S. TAX COMPLIANCE STAFF REPORT PERMANENT SUBCOMMITTEE ON INVESTIGATIONS UNITED STATES SENATE (STAFF REPORT, PERMANENT SUBCOMMITTEE ON INVESTIGATIONS, UNITED STATES SENATE) -- U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS -- STAFF REPORT ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- I. EXECUTIVE SUMMARY -- A. Subcommittee Investigation -- B. Overview of Case Histories -- (1) LGT bank case history -- (2) UBS AG case history -- C. Report Findings and Recommendations -- Report findings -- Report recommendations -- II. BACKGROUND -- A. The Problem of Offshore Tax Abuse -- B. Initiatives to Combat Offshore Tax Abuse -- C. Tax Haven Banks and Offshore Tax Abuse -- III. LGT BANK CASE HISTORY -- A. LGT Bank Profile -- B. LGT Accounts with U.S. Clients -- (1) Marsh accounts: Hiding 49 million over twenty years -- (2) Wu accounts: Hiding ownership of assets -- (3) Lowy account: Using a U.S. corporation to hide ownership -- (4) Greenfield accounts: Pitching a transfer to liechtenstein -- (5) Gonzalez accounts: Inflating prices and frustrating creditors -- (6) Chong accounts: Moving funds through hidden accounts -- (7) Miskin accounts: Hiding assets from courts and a spouse -- (8) Other LGT practices -- C. Analysis -- IV. UBS AG CASE HISTORY -- A. UBS Bank Profile -- B. UBS Swiss Accounts for U.S. Clients -- (1) Opening undeclared accounts with billions in assets -- (2) Ensuring bank secrecy -- (3) Targeting U.S. clients -- (4) Servicing U.S. clients with swiss accounts -- (5) Violating restrictions on U.S. activities -- C. Olenicoff Accounts -- D. Analysis -- ENDNOTES -- Chapter 2 PERMANENT SUBCOMMITTEE ON INVESTIGATIONS ISSUES REPORT ON TAX HAVEN BANKS HIDING BILLIONS FROM THE IRS -- REPORT: TAX HAVEN BANKS AND U.S. TAX COMPLIANCE. Chapter 3 WRITTEN TESTIMONY OF DOUGLAS SHULMAN (INTERNAL REVENUE) BEFORE THE SENATE COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS' PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ON TAX HAVEN FINANCIAL INSTITUTIONS: THEIR FORMATION AND ADMINISTRATION OF OFFSHORE ENTITIES AND ACCOUNTS FOR USE BY U.S. CLIENTS -- JULY 17, 2008 -- ONGOING IRS INVESTIGATIONS -- PATTERNS OF EVASIVE ACTIVITIES -- BACKGROUND -- IRS APPROACH TO COMBATING OFF-SHORE TAX EVASION -- Information Reporting -- Qualified Intermediary Program -- Tax treaties, information exchange agreements, and international cooperation -- Informants -- Criminal investigations -- John doe summons -- HOW CONGRESS CAN HELP -- CONCLUSIONS -- Chapter 4 STATEMENT OF KEVIN J. O'CONNOR (UNITED STATES DEPT. OF JUSTICE) BEFORE THE UNITED STATES SENATE COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ENTITLED "TAX HAVEN BANKS AND U.S. TAX COMPLIANCE" -- Chapter 5 OPENING STATEMENT OF SENATOR CARL LEVIN BEFORE U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- JULY 17, 2008 -- TAX HAVEN BANK SECRECY TRICKS -- Chapter 6 OPENING STATEMENT SENATOR NORM COLEMAN: TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- JULY 17, 2008 -- Chapter 7 EXHIBIT LIST: HEARING ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- UNITED STATES SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS -- Statement of Former LGT Treuhand Employee -- CHAPTER SOURCES -- INDEX -- Blank Page.
9781621005056
Tax evasion -- United States.
Tax havens.
Banks and banking, Foreign -- Taxation -- United States.
Electronic books.
KF6334 -- .T395 2009eb
343.7305/23
Financial Institutions and Services : Tax Haven Banks. - 1st ed. - 1 online resource (500 pages) - Financial Institutions and Services Series . - Financial Institutions and Services Series .
Intro -- TAX HAVEN BANKS -- TAX HAVEN BANKS -- CONTENTS -- PREFACE -- Chapter 1 TAX HAVEN BANKS AND U.S. TAX COMPLIANCE STAFF REPORT PERMANENT SUBCOMMITTEE ON INVESTIGATIONS UNITED STATES SENATE (STAFF REPORT, PERMANENT SUBCOMMITTEE ON INVESTIGATIONS, UNITED STATES SENATE) -- U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS -- STAFF REPORT ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- I. EXECUTIVE SUMMARY -- A. Subcommittee Investigation -- B. Overview of Case Histories -- (1) LGT bank case history -- (2) UBS AG case history -- C. Report Findings and Recommendations -- Report findings -- Report recommendations -- II. BACKGROUND -- A. The Problem of Offshore Tax Abuse -- B. Initiatives to Combat Offshore Tax Abuse -- C. Tax Haven Banks and Offshore Tax Abuse -- III. LGT BANK CASE HISTORY -- A. LGT Bank Profile -- B. LGT Accounts with U.S. Clients -- (1) Marsh accounts: Hiding 49 million over twenty years -- (2) Wu accounts: Hiding ownership of assets -- (3) Lowy account: Using a U.S. corporation to hide ownership -- (4) Greenfield accounts: Pitching a transfer to liechtenstein -- (5) Gonzalez accounts: Inflating prices and frustrating creditors -- (6) Chong accounts: Moving funds through hidden accounts -- (7) Miskin accounts: Hiding assets from courts and a spouse -- (8) Other LGT practices -- C. Analysis -- IV. UBS AG CASE HISTORY -- A. UBS Bank Profile -- B. UBS Swiss Accounts for U.S. Clients -- (1) Opening undeclared accounts with billions in assets -- (2) Ensuring bank secrecy -- (3) Targeting U.S. clients -- (4) Servicing U.S. clients with swiss accounts -- (5) Violating restrictions on U.S. activities -- C. Olenicoff Accounts -- D. Analysis -- ENDNOTES -- Chapter 2 PERMANENT SUBCOMMITTEE ON INVESTIGATIONS ISSUES REPORT ON TAX HAVEN BANKS HIDING BILLIONS FROM THE IRS -- REPORT: TAX HAVEN BANKS AND U.S. TAX COMPLIANCE. Chapter 3 WRITTEN TESTIMONY OF DOUGLAS SHULMAN (INTERNAL REVENUE) BEFORE THE SENATE COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS' PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ON TAX HAVEN FINANCIAL INSTITUTIONS: THEIR FORMATION AND ADMINISTRATION OF OFFSHORE ENTITIES AND ACCOUNTS FOR USE BY U.S. CLIENTS -- JULY 17, 2008 -- ONGOING IRS INVESTIGATIONS -- PATTERNS OF EVASIVE ACTIVITIES -- BACKGROUND -- IRS APPROACH TO COMBATING OFF-SHORE TAX EVASION -- Information Reporting -- Qualified Intermediary Program -- Tax treaties, information exchange agreements, and international cooperation -- Informants -- Criminal investigations -- John doe summons -- HOW CONGRESS CAN HELP -- CONCLUSIONS -- Chapter 4 STATEMENT OF KEVIN J. O'CONNOR (UNITED STATES DEPT. OF JUSTICE) BEFORE THE UNITED STATES SENATE COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS PERMANENT SUBCOMMITTEE ON INVESTIGATIONS HEARING ENTITLED "TAX HAVEN BANKS AND U.S. TAX COMPLIANCE" -- Chapter 5 OPENING STATEMENT OF SENATOR CARL LEVIN BEFORE U.S. SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- JULY 17, 2008 -- TAX HAVEN BANK SECRECY TRICKS -- Chapter 6 OPENING STATEMENT SENATOR NORM COLEMAN: TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- JULY 17, 2008 -- Chapter 7 EXHIBIT LIST: HEARING ON TAX HAVEN BANKS AND U.S. TAX COMPLIANCE -- UNITED STATES SENATE PERMANENT SUBCOMMITTEE ON INVESTIGATIONS COMMITTEE ON HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS -- Statement of Former LGT Treuhand Employee -- CHAPTER SOURCES -- INDEX -- Blank Page.
9781621005056
Tax evasion -- United States.
Tax havens.
Banks and banking, Foreign -- Taxation -- United States.
Electronic books.
KF6334 -- .T395 2009eb
343.7305/23