The world's wealthiest countries, including Switzerland and the United States, play the biggest role in facilitating the corruption of crooked leaders and criminals, a tax reform advocacy group said.
Investigations by Polish prosecutors into money laundering and other financial crimes in the United States are pointing to gaps in Delaware's incorporation laws, according to compliance consultants.
Bank secrecy jurisdictions have lobbied behind the scenes to weaken a United Nations call for greater international cooperation on tax evasion expected to be issued this week, say tax policy analysts.
Shell companies created in the United States under lax incorporation laws are allowing sanctioned countries to engage in illicit activities, according to three law enforcement officials testifying before a U.S. Senate panel Thursday.
The authors of the Stop Tax Haven Abuse Act are trying to charge FinCEN with duties the agency has shown no appetite for, according to guest writer Bruce Zagaris of Berliner Corcoran and Rowe, LLP.
The U.S. must do a better job of getting information about the beneficial owners of thousands of corporations and trusts formed in the country, the Financial Action Task Force said.
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