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The program will review unilateral U.S. enforcement efforts against overseas bank accounts, administrative and regulatory changes, diplomatic efforts and actions by international organizations, and proposed legislative initiatives to tackle the problem of taxpayers using offshore accounts to evade taxes. Presentation Objectives:
The objectives of this 60-90 minute audio discussion include providing participants with a conceptual understanding and practical application of the following: I. Recent Unilateral Enforcement Efforts Against Foreign Bank Accounts A. The UBS Investigations and Prosecutions
B. The Permanent Subcommittee on Investigations
C. Initiatives in Other Countries
II. New Foreign Bank Account Report
III. The Status of Voluntary Disclosure Arrangements
IV. The International Organization and Related Initiatives A. The OECD Harmful Tax Practices Initiative
B. The Recent Pledges by Tax Havens to Comply
C. The G20 Meeting on the Global Financial Crisis
D. EU Initiatives
V. Proposed U.S. Legislative Initiatives A. The Stop Tax Haven Abuse Act
B. The Baucus Alternative
C. Making Foreign Tax Crimes a Money Laundering Offense (subsec. 2(g)
of the Fraud Enforcement and Recovery Act of 2009) (S. 386) 1. Possible effects on Banks' AML Monitoring Programs
VI. Analysis and the Way Forward Upon completion of this program, participants will be able to: - Understand the latest developments in the U.S. investigations against UBS and U.S. taxpayers with undeclared foreign bank accounts
- Understand the potential resolution of the U.S. investigations against UBS and U.S. taxpayers with undeclared foreign bank accounts
- Identify the trends and pressures facing financial intermediaries and fiduciaries and recognize the prospective changes in their work
- Recognize and understand implications of pending international initiatives to provide anti-tax haven legislation
- Recognize proposed U.S anti-tax haven legislative initiatives
Recorded on April 20, 2009, this audio event is available on CD for purchase.
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