I am almost amused by a comment made this morning concerning my analysis of Tesco’s financing operation in Zug in Switzerland by Tim Worstall who had this to say:
Richard Murphy of course doesn’t agree but then so what? He’s in fact completely missed which Treasury is losing from the arrangement, and it ain’t the UK [...]
Tesco’s claim that it doesn’t avoid tax has been blown clean out of the water by Private Eye. In this week’s edition the Eye notes that, as it puts it, Tesco has been avoiding corporation tax through a complex web of offshore operations. That is, of course, exactly the allegation the Guardian also made a [...]
I’m still struggling to believe that anyone could as blatantly promote tax evasion Konrad Hummler, a partner in Wegelin & Co., did when saying this to Der Spiegel:
German tax evasion is a legitimate defense by citizens attempting to “partially escape the current grasp of the administrators of a disastrous social welfare state and its fiscal [...]
The Swiss Private Banker’s Association has looked at the consequences of making tax evasion a criminal offence in Switzerland (where it does not have that status at present) and has found that after asking someone they call a highly regarded expert on the subject - Professor Xavier Oberson, of Geneva University that the change:
would lead [...]
I hear rumours from Switzerland.
Apparently the indictment of a UBS banker in the USA on charges relating to tax evasion through Liechtenstein has made the banking communtiy somewhat bervous. Some Swiss banks have apparently ordered travel restrictions for the USA. No more Florida sunbathing and New York Christmas shopping for Swiss bankers, I suspect.
Now why [...]
The International Herald Tribune reports that:
Swiss banks cannot be expected to police foreign clients’ tax affairs, one of the country’s top banking officials said Monday, rejecting German demands for greater cooperation to catch tax evaders.
The president of the Swiss Bankers Association laid the blame for tax evasion squarely at the feet of governments that demand [...]
