Neutral Switzerland is getting it’s ass handed to it for taking sides with tax cheats.
Jack Townsend of Federal Tax Crimes blog says that Germany is following America’s lead in pursuing Swiss banks for allowing tax scofflaws to evade taxes in their home countries:
German authorities are raiding German offices of Credit Suisse. As noted in one article (Reuters from 7/16/10):
Raids at Credit Suisse (CSGN.VX) Germany’s private banking offices have been “a success” and will likely help identify bank staff in Switzerland as part of a clampdown on tax evasion, a spokesman for the German prosecutor’s office said on Friday.
The Germans are looking for the enablers, just as the United States has done so. Other countries are interested as well and will undoubtedly follow-suit. As I noted in an earlier blog today here, the United States is targeting the enablers. Credit Suisse is surely on its radar screen by now.
Surely the Swiss must by getting a hint that the tax cheat business model, at least as the Swiss have pursued it, no longer works, regardless of how lucrative it has been in the past. Actually, the Swiss are so greedy that they are giving a bad name to tax cheating. They seem not to understand the advantage of evasion in moderation (whatever that is, but it sounds interesting and better than the Swiss have done it).
It’s good to see that Germans don’t like nations that release child rapists anymore than Americans do.
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