Report: Credit Suisse Documents Reveal German Tax Evasion Worse Than Originally Thought
Report: Credit Suisse Documents Reveal German Tax Evasion Worse Than Originally Thought
February 4, 2010 /EIN PRESSWIRE/ According to the German newspaper Suddeutsche Zeitung, the German government may discover that their citizens and companies are hiding a lot more money in Swiss bank accounts than originally thought.
Up to 200 million EUR could be recouped in taxes, double the original estimate, by investigating the accounts contained on a data disc the German government bought from an informant. According to Suddeutsche Zeitung, internal Credit Suisse documents reveal the extent of tax evasion may go further than originally thought, with a majority of the bank's German customers having something to hide.
German Finance Minister Wolfgang Schaeuble is pleading with tax evaders to turn themselves in before the government takes action. A host of countries, including the Netherlands and Austria, are lining up behind Germany to get their hands on the stolen bank data.
Read more at Banking Industry Today:
Latest Swiss Bank Secrecy news - http://banking.einnews.com/news/swiss-bank-secrecy
Latest Switzerland Banking news - http://banking.einnews.com/switzerland/
Latest Germany Banking news - http://banking.einnews.com/germany/
Latest Credit Suisse news - http://banking.einnews.com/news/credit-suisse-banking
Located at http://banking.einnews.com, Banking Industry Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest banking news from around the world, saving them valuable time they'd spend searching for information. New users to Banking Industry Today can enjoy a no-obligation, one-week free trial.
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February 4, 2010 /EIN PRESSWIRE/ According to the German newspaper Suddeutsche Zeitung, the German government may discover that their citizens and companies are hiding a lot more money in Swiss bank accounts than originally thought.
Up to 200 million EUR could be recouped in taxes, double the original estimate, by investigating the accounts contained on a data disc the German government bought from an informant. According to Suddeutsche Zeitung, internal Credit Suisse documents reveal the extent of tax evasion may go further than originally thought, with a majority of the bank's German customers having something to hide.
German Finance Minister Wolfgang Schaeuble is pleading with tax evaders to turn themselves in before the government takes action. A host of countries, including the Netherlands and Austria, are lining up behind Germany to get their hands on the stolen bank data.
Read more at Banking Industry Today:
Latest Swiss Bank Secrecy news - http://banking.einnews.com/news/swiss-bank-secrecy
Latest Switzerland Banking news - http://banking.einnews.com/switzerland/
Latest Germany Banking news - http://banking.einnews.com/germany/
Latest Credit Suisse news - http://banking.einnews.com/news/credit-suisse-banking
Located at http://banking.einnews.com, Banking Industry Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest banking news from around the world, saving them valuable time they'd spend searching for information. New users to Banking Industry Today can enjoy a no-obligation, one-week free trial.
About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.
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