Taxman swoops on 20 wealthy Aussies

The Lichtenstein tax evasion scandal spread to the antipodes yesterday as Australian tax authorities swooped on 20 Australians believed to have amassed millions of dollars in Lichtenstein bank accounts.

The Australian tax commissioner Michael D'Ascenzo said yesterday the Australian Tax Officer's 20 audit cases underway, related to funds in Liechtenstein, ranging from $A200,000 (₤94,111) to millions of Australian dollars. ‘These are ongoing inquiries and the final tax bill is still unclear,’ he said.

D'Ascenzo said the tax office would not pay for information relating to taxpayers, unlike the British Government which is said to have paid ₤100,000 to an informant for LGT's British customer details, according to The Australian newspaper.

In Germany, authorities said 195 people confessed to tax evasion since their probe of Liechtenstein bank accounts began two weeks ago, as the investigation widened to at least 13 countries including the US, according to Bloomberg.com.

Further reading:

Germany will share tax hitlist

Liechtenstein evaders have 'substantial' tax to pay

Read story in The Australian