TaxCorporate TaxSwitzerland flush with non-resident money

Switzerland flush with non-resident money

A US campaign group says non-residents have $606.8bn sitting in Switzerland

US tax campaigners say the use of Switzerland by non-residents to house funds
is enabling tax evasion.

Switzerland currently houses $606.8bn (£297bn) of money from non-residents, a
group of tax campaigners have claimed.

The analysis, featured on www.taxanalysts.com, excluded $356.1bn of fiduciary
deposits in Swiss banks.

The campaigners who conducted the research say the vast amount of foreign
funds flowing into Switzerland makes it easier for non-residents to engage in
tax evasion by using Switzerland as an off-shore centre.

Further reading:

Read
the full analysis here

Taxman targets 100,000 more offshore
dodgers

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson