Known for its centuries old tradition of bank secrecy, Swiss banks are constantly lambasted for being the private bankers of dictators and plunderers. Cash, jewelry, paintings, gold bars and items of value that are believed to have been looted from poor economies, through the ages, are said to be kept in Swiss banks. As a [...]
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Anglo Irish Bank Nationalized
One of the better known offshore banks bites the dust.
Ministers Statement
The Government has today decided, having consulted with the Board of Anglo Irish Bank Corporation plc (“Anglo”), to take steps that will enable the Bank to be taken into public ownership. This decision has been taken after consultation with the Central Bank and the [...]
US Senators Issue Report on How Large US Corps Use Tax Havens
Another rehashed report. In 2004 the same Senators presented a similar report to try stop American corporations from using offshore companies to avoid taxes. Nothing has changed since.
Dorgan, Levin Release GAO Study on Offshore Tax Haven Subsidiaries
WASHINGTON, D.C. – A new Government Accountability Office (GAO) report [PDF] released today by U.S. Senators Byron Dorgan (D-ND) [...]
US Plans Tax Rebates
In order to avoid recession, President George Bush proposes a tax rebate for low and middle income Americans. At this point, there is an ongoing argument whether the rebate should be given to all Americans or only to families with a combined annual income of US$100,000. Bush is expected to elaborate on this plan during [...]
California: Decrease spending, no tax increase
In what seems like an uphill battle against the budget, Governor Schwarzenegger proposes a 10% across the board cut in spending. This will mean a sharp decrease in payments to schools, the closing of several state parks, early release of low risk inmates, etc.Â
Faced with stiff opposition, the governor urges the state to be responsible [...]
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