Germany Steals Data - Will Gain $2.3 Billion in Taxes

December 18th, 2010
in News, Banking

Reuters:  Germany's crackdown on tax evaders through its acquisition of stolen data on bank accounts in Liechtenstein and Switzerland could rake in some 1.8 billion (1 billion pounds) euros for public coffers, a German magazine (Der Spiegel) wrote on Saturday.

Follow up:

German tax authorities reported a surge in the number of tax dodgers turning themselves in after the federal and regional German governments decided to buy bank data from whistleblowers.

Under German laws, taxpayers who report undeclared income themselves and pay back tax plus interest owed before authorities launch an investigation can avoid prosecution.  Read more.....

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