| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : EU Economy Last Updated: Apr 24, 2009 - 5:31:05 PM


German government to share Liechtenstein's tax evasion data with other countries
By Finfacts Team
Feb 26, 2008 - 8:42:44 AM

Email this article
 Printer friendly page

The German government said on Monday that it will provide tax authorities in other jurisdictions details of relevant clients from the DVD containing data on 1,400 clients of  Liechtenstein's LGT Bank, that it purchased from an ex-employee of the bank for €4.2 million. The bank's foreign clients are suspected of using the Alpine tax haven to evade tax in their own countries.

German Finance Ministry spokesman Thorsten Albig said if other nations will request for the data, it will willingly share it at no cost to the requesting country.

German daily Handelsblatt said Finland, Sweden and Norway are interested in acquiring a copy of the CD. Apparently other nationalities have started to initiate investigations of their own nationals' involvement in tax evasion cases.

The Irish Revenue Commissioners are reported to have plans to contact the German tax authorities to see if there are any Irish names on the list of suspected tax defrauders that Berlin bought from a whistleblower who worked in a Liechtenstein bank.

A spokesman for the Revenue told The Irish Times that they were aware of the list obtained by German intelligence.

He said Revenue was "following developments with interest". "We will be in touch with the German authorities," he added.

The UK reportedly paid €132,931 for a similar Liechtenstein listing of accounts held by 100 wealthy Britons.

The German magazine Der Spiegel reported that the DVD Germany purchased was also sold for almost  €5 million to US authorities. The ex-LGT bank employee is reported to have disclosed he was kidnapped in 1997 in Argentina. The 42-year old Heinrich Kieber, is reported to have been assisted by Germany to acquire a new identity and lead a lesser known and safer life.


In related news, the Executive Director of the United Nations Office on Drugs and Crime Antonio Maria Costa reminded Liechtenstein that it ratified the UN Convention Against Transnational Organized Crimes, which relates to anti money-laundering measures.

Costa added, "Tax havens should not be used to shelter the proceeds of crime." He urged Liechtenstein to ratify the UN Convention against Corruption.

 

Related Articles
Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

EU Economy
Latest Headlines
Spain's strong recovery to slow in the next few years
Italy's Mezzogiorno is Achilles' heel of Euro Area - lowest birth rate since 1862
Euro Area GDP grows at weak 0.3% in Q2 2015
German GDP up 0.4% in Q2 2015; France's GDP stagnates
Germany's Surplus: Lots of critics; Credible solutions scarce
Euro Area industrial production dips in June and May after a flat April
Greece faces two years of recession according to EU officials
High EU youth unemployment rate not as bad as it seems
Eurozone retail PMI surges to highest since January 2011
ECB monetary policy still tight for Southern Europe
German exports fell in June — surplus at record; Exports up 13.7% year-on-year
Eurozone manufacturing sector continued to expand in July
Weak euro unlikely to have significant impact on Euro Area growth
Is Euro Area Ireland's top trading partner?: EU28 is overwhelmingly UK's
German car firms boost exports from Spain, UK, Portugal, Czech Republic, Slovakia, Hungary and Romania
Flash Eurozone manufacturing/ services PMI close to four-year high despite Greek crisis
Krugman calls euro a Roach Motel; Hotel California gets 1-star grade
Greece & Euro Crisis: July 2015 articles from Finfacts
Greece and other poor countries in Euro Area will not become rich
Euro Area manufacturing/ services PMI hits four-year high in June
Western European car market: Recovery continues
Greece could become a failed state like Venezuela
Multinational companies pay on average 30% less tax than domestic competitors in EU
EU's list of 30 tax havens omits the biggest 4 in Europe
China to invest in Juncker's European investment fund
Greek talks collapse; Game theorists gambling with future — Germany's vice-chancellor
German exports and industrial production in strong rises in April
Tackling Inequality: Scandinavian countries have the most successful welfare systems in Europe
Eurozone unemployment fell by 130,000 in April 2015 — down 849,000 in 12 months
Eurozone service sector business activity slowed during May
German 2015 GDP forecast cut; Jobless level at 24-year low
Eurozone manufacturing in modest acceleration in May
FDI into Europe at record in 2014; UK on top: Germany location for future investment
Eurozone economy loses growth momentum; Jobs growth rises
Athens leak suggests Juncker has plan for Greece
Draghi will not end QE early but warns of risks
Eurozone grows faster than US and UK in Q1 2015
German GDP at slower pace, France faster in Q1 2015
Germany may cut income tax; Germans still shun risky investments
Germany had record exports and imports in March 2015