A third of all internationally invested private wealth is kept in the tiny landlocked country of Switzerland, where tax evasion is not recognised as a crime. But Switzerland is defiantly standing behind its policy of banking secrecy, despite a global attempt to crack down on tax havens. Al Jazeera's Hamish Macdonald reports.
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Switzerland evades tax haven crackdown - 22 June 09 - Video
Congressman Lloyd Doggett, a senior member of the House Ways and Means Committee, today questioned US Treasury officials and tax law experts about banking secrecy practices that allow wealthy Americans to conceal more than $1.5 trillion in offshore tax havens, costing taxpayers up to $50 billion a year in lost revenue. Rep. Doggett also revealed the number of tax shelters being used by corporations receiving money under the Troubled Assets Relief Program.
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Rep. Doggett: $1.5 trillion in offshore tax havens - Video
Further disclosures which been revealed inAmerican and British media reports on the massive Carroll Foundation Charitable Trust and parallel Carroll Maryland Trust national security cases are understood to have galvanized well seasoned Washington political observers who have recently remarked that this combined case is now regarded in Washington as an important show of strength to the nation at a critical point in the Obama administration's term in office. Sources have revealed that the recent upheaval in the US Congress surrounding the ballooning deficit and the clear lack of transparency at the Federal Reserve is thought to be closely linked to the continuing use of tax havens and revenue evasion which is contributing to the constant drain on the economy and the cohesion of society. The US Treasury department responsible for the nations financial well being is understood to be also taking a close interest in the Carroll Trust affair following recent announcements by close aides to President Obama concerning the new pivotal offshore tax evasion and banking legislation which is thought in Washington to be a critical further lever of strategic control for the US Marshals Service Department of Justice and the FBI in the concrete fight back against white collar organized crime tax fraud and terror funding related activities which have seriously undermined the much sought after economic recovery for America's main street who have suffered greatly at the hands of the financial ..
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Deficit Reduction Tax Havens Public Enemy No.1 US Capitol Hill Congress National Security - Video
The President offers proposals to curb tax havens and replace tax advantages for creating jobs overseas with incentives to create them here at home.
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President Obama: Shutting Down Tax Havens, Creating Jobs at Home - Video
http://www.easystockdater.com Worlds Most Secretive Tax Havens. Ranked.
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Worlds Most Secretive Tax Havens - Video