TaxAdministrationTaxman swoops on 20 wealthy Aussies

Taxman swoops on 20 wealthy Aussies

Australia’s tax authorities has swooped on 20 Australians in the wake of the Lichtenstein tax evasion scandal

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

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