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Hong Kong Is New Target of U.S. Crackdown on Taxes

Hong Kong is a new target of U.S. prosecutors pursuing a global campaign against evaders of federal taxes, spurred by data acquired in their crackdown on Swiss banks.

Prosecutors are trying to determine what role financial professionals in Hong Kong play in tax evasion, according to people familiar with the matter. They are examining how much taxable [...]

Swiss agree to relax bank secrecy rules

Source: FT.com
Switzerland agreed on Friday to relax its strict bank secrecy rules and co-operate more on tax evasion in a last-ditch attempt to fend off a global crackdown on tax havens that is rattling the offshore banking industry.
The upcoming meeting of the Group of 20 developed and emerging nations in which they are [...]