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French tax waterloo!!!!
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 1/28/2010 1:25:22 AM

By: Froggy

In 1932, a Swiss Private Bank from Basel was caught helping French HNW evading taxes... The then government seized all assets of the bank and requested it to hand over clients datas. The bank was about to comply and bank secrecy was about to disappear... Rather than pushing this upper hand, the French Parliament decided to overthrow the government....

In 2009, the French government gained valuable information that a swiss private bank was engaged in mass scale tax evasion with French and other european tax payers. They also knwe it was not an isolated case as UBS had made headlines the year before in the USA..etc.

French Sceretary of Finance, Mr Woerth, made headlines about going after tax cheats and applying the full force of the law, going so far as to provoke a diplomatic clash with Switzerland... The only result so far is that the Michelin family, though denying any involvement, had a dubious Lichtenstein foundation and had made legit some Euro 400 Millions through the tax amnesty programm.

At the WEF in Davos in january 010, the French government suddenly and abruptly, compared to past months rethoric, gave up on using the information they collected on tax cheaters, agreed to hand back the info to the swiss government and not to share it with other governments that might have a legitimate interest.... There is no mention of forcing Swiss to adopt transparency.

That is WATERLOO... We thought we had Grouchy it was Blucher!!!!

It puts a perspective on the resolve of the French government to reform the banking system and its claim to moralise it...

"Hope decamped, the fight spirit changed side"

Victor Hugo


Anonymous
Posted: Saturday, August 13, 2011

Posted: 1/28/2010 10:03:05 AM

By: knightmare3000

there is an old adage that Money in the banks of Andorra is money from France on the way to Switzerland. this has been going on for many,many years. so if the French government want to ferret out tax cheats,first have them sign a treaty with Andorra and then they will find the route of where the money comes from and where it is going to.If you Froggy are a journalist I think that it would be worth a story to go from France,cross the Southern border to Andorra through the Pyrenees mountians' roadways and then make discrete inquiries there as to the French citizens that 'vacation" there. find out which banks they use. you may find that even high ranking politicians use this method. you never know whom you may see there so bring the camera with you. good hunting . I think it may be an expose worthy of the Paris newspapers


 

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