Friday, September 04, 2009

Hardly surprising

And yes, I called that one, just yesterday.

I quoteth the article;
"HSBC Holdings Plc’s Swiss private bank says more rich foreigners are inquiring about moving to Switzerland, spurred by rising taxes at home and concerns about the erosion of banking secrecy for non-residents." (emphasis - Ed.)
Further, just as I said, the real options are few;
"...any Swiss banking client with a tax-compliance issue in his home country has three choices: do nothing, make a voluntary disclosure, or, if rich enough, move to Switzerland." (emphasis - Ed.)
The biggest surprise, however, was this bit;

"The country is in the process of signing a series of double-taxation treaties as part of an effort to avoid being placed on the Organization for Cooperation and Development’s blacklist of uncooperative tax havens."

Never even heard of this Organization for Cooperation and Development before. Inquiring minds want to know more.

H/T to SurvivalBlog.

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