Monday, October 19, 2009

Liechtenstein Cooperating? Tax Haven Hidey - Holes Opening Up?

Any In Here?

The profusion of banks in Liechtenstein is a strong first impression.  Not the views (which appear to be incidental to the main function - money; even with business construction blocking the finest of the views from old churches at the tops of highest hills), not the food, not the architecture (a blend: simple chalets or other practical shapes, unfussy mostly we saw).

Now, NYT reports that Liechtenstein as well as Switzerland and some other offshore sweet spots, have agreed to open their records to the IRS. See ://  Some 7500 errant nontaxpayers are coming forward, so it says.

This is not a new idea, as opening sham or real accounts is fine sport.  See UBS Client Admits Failure to Report Offshore Account, at :// - sham Liechtenstein account included.

Liechtenstsein Landesbank, Vaduz, Liechtenstein

Now that we can read the names, what is the future of the personal banker? Is this one fine?

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