This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Germany's CDU Divided Over Purchase Of Stolen Tax Data,
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, February 03, 2010
Despite the clear resolve of German Chancellor Angela Merkel to purchase stolen
tax evader data from an informant, she is nevertheless facing increasing opposition
from within her own Christian Democratic Union (CDU) party, with some even speaking
openly about the state receiving stolen goods.
Chancellor Merkel is determined to obtain the infamous disc, containing
the names of around 1,500 Germans thought to hold bank accounts illegally in
Switzerland. According to Merkel, every reasonable individual will realize that
tax evasion must be punished. If the data is relevant, she added, then the government
should be in possession of the information.
German Finance Minister Wolfgang Schäuble has shown his support for the
Chancellor, defending the government’s decision to carefully consider
the matter. Alluding to the fact that the legal aspects have also been closely
scrutinized over the course of the last few days, Schäuble emphasized that
no rash decision would be made.
Referring to a similar incident that took place two years ago, when, for EUR4.6m,
the Federal Intelligence Service obtained a disc containing information on 1,400
Germans thought to hold accounts in the Liechtenstein LGT bank, Schäuble
noted that it would be difficult for the government to do the opposite now to
what had been done two years ago. Indeed, the government’s action at that
time has still not been called into question by any court, he noted.
Nevertheless, the CDU Council of Economic Ministers remains fiercely opposed
to the purchase, insisting instead that the informant be taken into custody.
Chairman of the parliamentary Legal Affairs Committee, Siegfried Kauder (CDU),
has expressed his belief that by purchasing the information for EUR2.5m, the
government is sending out a clear signal to data thieves that if they steal,
then the state will buy the information.
Claudia Winterstein, finance expert for the Free Democratic Party (FDP), has
also criticized the Chancellor, stating that if the data cannot be obtained
by legal means, then the state must do without the information. In a constitutional
state, the end does not justify the means, she added, otherwise it opens the
door to blackmailers and receivers of stolen goods.
Issuing its response, Switzerland’s Federal Administration stated that:
“The German Finance Minister, Wolfgang Schäuble, informed Finance
Minister Hans-Rudolf Merz by telephone that the authorities of one of the German
Länder had been offered the possibility to purchase client data from a
Swiss bank.”
It continued: “The German Federal Government will decide whether or not
to take up this offer. Finance Minister Schäuble gave no further information
on the matter. The ministers noted that both countries currently adopt different
legal positions. Federal Councillor Merz also indicated to Finance Minister
Schäuble that Switzerland does not provide any administrative assistance
on the basis of stolen client data. Federal Councillor Merz pointed out Switzerland's
readiness to increase its cooperation with Germany on tax matters, based on
a revised double taxation agreement.”
The Federal Administration confirmed that the purchase of stolen client data
is prohibited in Switzerland and violates public policy and the principle of
good faith. The use of stolen bank data constitutes a breach of the privacy
of the clients concerned, it concluded.
Negotiations between the two ministers are due to continue shortly.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed