Friday, February 22, 2008

German Banks Helping Clients Evade Taxes?


Tax investigators in Germany have found evidence that some German financial institutions may have been involved in tax evasion via foundations in Liechtenstein. The news comes a day after Angela Merkel outlined the ways she expects the tiny state to tackle tax fraud.

The tax evasion scandal that has gripped Germany for the past week now looks like implicating German financial institutions, who may have helped their wealthy clients to hide their assets in the tiny state of Liechtenstein to avoid paying tax…. SPIEGEL INTERNATIONAL

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