Task Force Blog

Issues in the News

UBS Should Settle IRS Case, Pay Tax On Accounts – Think-Tank

July 15, 2009

Dow Jones Newswires

UBS AG (UBS) should pay U.S. taxes on 52,000 secret accounts held by American citizens in Switzerland as part of a settlement to a high-profile legal case between the bank and U.S. tax authorities, according to Washington-based Global Financial Integrity.

The think-tank said Zurich-based UBS should pay back-taxes owed the U.S. on what has been estimated as $14.8 billion worth of assets held in 52,000 undisclosed accounts from 2001 to 2007.

Continue reading at WSJ.com…

 Share

This entry was posted on Wednesday, July 15th, 2009 at 11:00 am and is filed under Issues in the News, Media, News.

Latest Press Releases

U.S. Senate Report: Tackle Money Laundering to Curtail Drug Trafficking

Clark Gascoigne · May 20, 2013

WASHINGTON, DC / LONDON – A bipartisan Congressional report published Thursday by the U.S. Senate Caucus on International Narcotics Control (Senate Drug ...

Kofi Annan, Africa Progress Panel, Urge G8 & G20 Members to Tackle Illicit Financial Flows to Help Africa

Clark Gascoigne · May 10, 2013

WASHINGTON, DC – Global Financial Integrity (GFI) lauded former UN Secretary-General Kofi Annan and the Africa Progress Panel (APP), which he chairs, ...

David Cameron Calls for Abolishing Phantom Firms in Major Transparency Victory

Global Financial Integrity · April 25, 2013

WASHINGTON, DC / LONDON – In a major victory for transparency advocates, British Prime Minister David Cameron called on members of the ...