Word: taxingly
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...Justice Department, frustrated for decades by Swiss efforts to foil any tampering with its bank secrecy traditions, was pressing its advantage: a giant tax evasion program run by Swiss bank behemoth UBS was exposed in great detail by a company whistleblower, and Uncle Sam was demanding to know the names of all 52,000 U.S. account holders involved...
...none of the options facing the U.S. in its bid to bring tax cheats to justice appear promising. Which makes that lost opportunity with Birkenfeld, if true, something of a black eye for the U.S. Justice Department...
...more likely reason this may have occurred, some sources said, is the same reason the DOJ balked at granting Birkenfeld immunity in exchange for his cooperation: he apparently violated the cardinal rule of not being completely truthful with investigators about his own role in the tax evasion scheme...
...More specifically, Justice officials have said he was not forthcoming about his role servicing Igor Olenicoff, the Russian-born, California-based real estate billionaire whom Birkenfeld brought to UBS from Barclays, where Birkenfeld worked before - a charge his lawyers deny. (In 2008, Olenicoff pleaded guilty, paid $52 million in taxes and interest and was sentenced to two years probation and 120 hours of community service. In 2009, Birkenfeld pleaded guilty to one conspiracy count related to tax evasion and in January 2010 began serving a 40-month sentence...
...Singapore casinos, to be sure, have significant long-term advantages. Unlike the crowded gaming markets of Macau and Las Vegas, they will be operating as a duopoly with no immediate fear of further competition. The gambling tax rates will be significantly lower in Singapore than they are in Macau. And, most important, the casinos sit on perhaps two of the most coveted pieces of real estate in the country, enhancing their appeal to both locals and foreigners. Marina Bay Sands is minutes away from the city's downtown offices on a fringe of sea-facing land overlooking the ship-sprinkled...