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An economic war against offshore Switzerland. Who will win?
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 3/31/2009 8:51:19 AM

By: Economic warfare

"Why should Switzerland damage their successful offshore banking business and let the jealous competitors gain market share? Just to please the U.S. who wants to control currency flows? It is not the job of Swiss banks to enforce American tax laws."

"American requirements do not only concern paying taxes. This country wants to restrict the ability to invest money freely and without fear of currency controls. When your bank accounts are regularly checked, you lose your liberty. Isn’t it the main value of American nation?"

http://ecommerce-journal.com/articles/14310_an_economic_war_against_offshore_switzerland_who_will_win


Anonymous
Posted: Saturday, August 13, 2011

Posted: 4/1/2009 7:50:56 AM

By: Additionally

The Swiss secret banking system exists to exploit corruption in general, including governmental corruption in developing nations. While the government officials in those nations are primarily culpable in stealing their citizens' money, the Swiss are willing accomplices in such embezzlement, just as they are in accepting other criminal proceeds -- including the proceeds of tax evasion.

The famous Swiss bank secrecy will soon be as dead as General Francisco Franco, and Bob Bauman and others can recycle their unsold books on the subject.

There will be "offshore" jurisdictions so long as there is crime; however, these jurisdictions will soon be reduced to obscure jurisdictions with few controls and no respectable financial institutions where the risk of depositors losing their money to embezzlement or expropriation will be as high as an employee of such institution being bribed to surreptitiously turn over the client list, i.e., very high.

Otherwise, nobody cares what the Swiss think about the matter since they have leached off the legitimate world for so long, willing hidden money for Nazis and other notorious criminals, and otherwise displayed a wholesale lack of any morals or scruples (like many of their depositors, such as the Sovereign Society whacks).


Anonymous
Posted: Saturday, August 13, 2011

Posted: 4/1/2009 6:42:13 AM

By: the end is near

It is quite irritating to read about Switzerland being singled out in the "war against tax havens" as it is far from the reality... All tax havens are targeted so that they will become compliant with the new rule about "transparency" (if any could be achieved...). As if anyone did not have notice about the incoming events, they should blame shortsighted politics and business leaders.
Now lets turn to the whole point :

1) Industrial countries are losing an hefty lot of taxes to tax evasion. One could blame the high tax rates for the situation or the necessity for corporate directors to minimise tax impact on results..Although it remains to be seen if it is a necessity or just accounting dressing to the attention of shareholders.. Nevertheless tax laws are democratically decided and enforced and compliance is sought and required from anyone... Basically evading tax prevents tax rebate and forces some to pay a higher portion..

2) It is thought that tax evasion was mainly individually driven (be it a corporation or a person) and that it was a personnel ethical issue..Moral was at stake...Corporate and individual governance should have been deterrent enough to engage in tax evasion...Now everyone can see that it has not been the case and that banks and other intermediaries were willing to go the extra length, even breaking the laws, to perform in this grey area of tax compliance... UBS being clearly the showcase.
It was deemed that tax evasion was not vindicated by States, including tax havens. The Swiss distinction between tax evasion and tax fraud clearly points in that direction as it is assessed on the motive of the taxpayer rather than on the State assistance which distances itself from such practice.. Intervention by the Swiss diplomacy and goverment shows that some States are clearly lending a willing hand to tax evasion. Switzerland has a long history of protecting actions from their banks, for record in the 1959 when a row erupted with Spain, now with the USA... One wonders why politics would come to the defense of a rogue bank (by US standards).
It is therefore a MORAL obligation for other States to defend and protect their own compliant taxpayers. Tax havens are going to feel the brunt of this moral obligation.

3) The point that some of those "moral" goverments are harboring tax havens within their constituency is irrelevant to the discussion. It is not because the farmer eats chickens that the fox is authorised to pillage the hen den.


Anonymous
Posted: Saturday, August 13, 2011

Posted: 3/31/2009 3:53:15 PM

By: LOL

Cheese, chocolates, and overpriced crappy watches anyone?


Anonymous
Posted: Saturday, August 13, 2011

Posted: 3/31/2009 9:45:57 AM

By: Screw you

Maybe the Swiss should invade other countries illegally and set up a colonial empire to rape the resources of others states for their own benefit. I guess that’s what “anglo saxon” countries call “make money legally”….jajajaja


Anonymous
Posted: Saturday, August 13, 2011

Posted: 3/31/2009 9:13:27 AM

By: Screw the Swiss

The Swiss have long made conspiring with international criminals a part of their economy; remember hiding the Nazis loot?

Time for the Swiss to learn how to make money legally.


 

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