tax haven

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10 Tax Havens Agree to Curtail Bank Secrecy

Brown will announce G20 deal with Switzerland, Monaco

(Newser) - Ten tax-haven nations—including Switzerland, Liechtenstein, and Monaco—will share information with other countries about suspected tax dodgers in a deal to be announced at this week’s G20 summit, the Telegraph reports. The deal is a coup for PM Gordon Brown, who is hosting the summit and who has...

IRS Challenges AIG's Offshore Tax Deals

(Newser) - The IRS is challenging a series of tax-skirting deals engineered by the much-maligned AIG Financial Products unit, the Wall Street Journal reports. The deals exploited differences in international tax codes to reduce tax payments for foreign banks—many of the same banks the US government would later pay to settle...

Time to Forget AIG and Nab Offshore Cash
Time to Forget AIG and Nab Offshore Cash

Time to Forget AIG and Nab Offshore Cash

We're fretting about millions in bonuses, while firms hide billions

(Newser) - Everyone’s aflutter about the AIG bonuses—but there’s a much more lucrative way to take Wall Street to task than obsessing over $165 million, writes Joe Conason in Salon. The government should instead focus on the billions that financial firms are putting in offshore tax havens. Corporate tax...

AIG Sues US Over Tax Payments

(Newser) - Even as Washington rails against AIG’s bonus giveaway, the insurer is quietly suing the government for $306 million in tax payments, the New York Times reports. AIG’s case hinges largely on its use of offshore tax havens, including one entity that handles executive compensation. It also says it...

G20 Will Push for End to Tax Havens
G20 Will Push
for End to
Tax Havens

G20 Will Push for End to Tax Havens

Brown enlists Obama to help crack down on offshore facilities

(Newser) - Ahead of the G20 financial summit in London this April, Gordon Brown is pushing ahead with a major diplomatic effort to crack down on international tax havens that cost governments $150 billion a year. The British PM has held talks with fellow world leaders, including Barack Obama, reports the Guardian....

Out of Land, Monaco Eyes Ocean

Tiny, rich principality wants landmark on stilts, but environmental concerns loom

(Newser) - Monaco, flush with cash from tourism and its status as a tax haven, is trying to acquire the one thing it lacks: space. Its square mile of space is full (it's the world's second-most-densely populated country), moving Prince Albert II to decide to build an artificial offshore district—on stilts,...

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