Word: taxing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...pitted against the U.S. in a David and Goliath-style imbroglio that could damage diplomatic and economic relations between the two for years to come. On one side, the U.S. Department of Justice is accusing Swiss banking giant UBS of helping wealthy Americans hide billions of dollars from the tax man and insisting that the bank reveal their identities. On the other, the Swiss government is threatening to step in to protect the country's famous secrecy laws. The two have until Aug. 3 to come up with an agreement - or continue the fight in court...
...been under investigation by the Department of Justice since last summer for allegedly helping wealthy Americans hide $20 billion in undisclosed offshore accounts to evade taxes. To absolve itself of criminal charges, the bank, one of the world's largest wealth managers, agreed to pay a $780 million penalty and release the names of 250 clients whom the Internal Revenue Service suspected of evading taxes. (See pictures of tea-party tax protests...
...Swiss claim that the U.S. proceeding against UBS breaks the terms of the treaty between the two countries that permits an exchange of information on tax matters only in individual cases where a specific and justified request is made. "The blocking order that the Swiss government is prepared to issue would be a first, but it's a reasonable step to take in light of the IRS's threatened disregard for international treaties and provisions of Swiss law," says James Nason, spokesman for the Swiss Banking Association (SBA), a trade group for Switzerland's financial institutions. (Read "The Swiss Question...
...doing better. She set a three-year poverty-reduction strategy whose four pillars are peace and security, governance and the rule of law, infrastructure and basic services, and economic revitalization. A U.N. peacekeeping force and an embargo on arms are keeping conflict at bay. Schools and hospitals have reopened. Tax receipts are up. Bureaucracy is down. U.N. sanctions on diamond and timber exports have been lifted. Liberia is attracting foreign investment in iron ore, timber, palm oil and construction. Though steel giant Arcelor Mittal recently mothballed a $1.5 billion project to reopen an iron-ore mine and rebuild a railway...
...Cambridge City Councillor Sam Seidel said that he hopes that the tax increases will not have too much of a negative impact on Cambridge, even though consumers are spending less in the current economy. He noted that Harvard Square seems to be "immune" to the effects that tax hikes would typically have on small businesses...