UBS Swiss Bank to give USA Gov their USA client list! OMFG! - GoFuckYourself.com

DWB · 02-19-2009, 04:52 AM

http://news.yahoo.com/s/ap/20090218/...ge/ubs_secrets

Hope you fellas have director nominees on those offshore accounts.

I'm speechless over this one.

Jon Clark - BANNED FOR LIFE · 02-19-2009, 05:05 AM

Dizzity.. Damn...

asianseekerz · 02-19-2009, 05:05 AM

do we sill need to trust doing offshore bank with swiss....

Kick Ass Chat · 02-19-2009, 05:06 AM

Interresting read for sure.

Ethersync · 02-19-2009, 05:14 AM

The lesson here is if you have a Swiss account that you want to keep secret from the US government you had better make damn sure that the bank the account is with does not have a presence in the US...

buyandsell · 02-19-2009, 05:54 AM

I am assuming UBS had some part of it based in USA otherwise they wouldn't have been able to do this.

If you look at all the money the govt is spending on stimulus etc they need to claw revenue back somewhere.

pornguy · 02-19-2009, 06:05 AM

Most likely the US is using the Patriot act to get the info. With that the feds can automatically suspend trade and set up embargoes against any country that refuses to work with the US on information that they say could be terrorist related. So all they have to say is...

kmanrox · 02-19-2009, 06:23 AM

uh oh....

Mickey_ · 02-19-2009, 06:26 AM

that will affect quite a few..

seeandsee · 02-19-2009, 06:30 AM

that is dirty

notime · 02-19-2009, 07:35 AM

so far for the swiss bank secrect...

Wizzo · 02-19-2009, 07:37 AM

All the real money is hidden in Dubai and HongKong these days...

marketsmart · 02-19-2009, 08:07 AM

Quote:

Originally Posted by Jesus H Christ

Cyprus. Let the US government try and enact it's powers there. That will be the laugh of the day.

yes, because cyprus has an amazing military force...

if the US wants something, it will get it...

Ethersync · 02-19-2009, 08:10 AM

Quote:

Originally Posted by Jesus H Christ

Cyprus. Let the US government try and enact it's powers there. That will be the laugh of the day.

Why can Cyprus can stand up to US government bullying better than Switzerland?

IllTestYourGirls · 02-19-2009, 08:10 AM

Quote:

Originally Posted by Wizzo

All the real money is hidden in Dubai and HongKong these days...

Dubai for the win!

HorseShit · 02-19-2009, 08:26 AM

that's fucked up

Pleasurepays · 02-19-2009, 08:27 AM

People just can't seem to grasp that when you are suspected of financial crimes in the US or are a US Citizen... you have zero privacy... no matter where your money is. Your money is not safe anywhere, in any bank. banks can't move US dollars and deal in US Dollars around the world without complying with the US Treasury Depts rules. Period.

Try moving millions of dollars around the world through a network of companies and see your bank be put of the Treasury Depts list of money laundering banks and see how fast they give all your shit up in spite of all the bullshit about privacy, not having information sharing agreements etc that you were told by countless professionals in the beginning.

been there. done that.

In post 9/11 world.. you have no banking privacy if you are moving real money around. there is just no such thing. There are simply those who have been tested / prosecuted and those who haven't.

scuba steve · 02-19-2009, 09:01 AM

still sounds illegal to force another company to give up their international client list

minddust · 02-19-2009, 09:17 AM

fuck! I'm transfering all my found to my ecrap account

DarkJedi · 02-19-2009, 09:23 AM

Yeah heard it this morning.

It's pretty fucking bad.

Quote:

Originally Posted by scuba steve

still sounds illegal to force another company to give up their international client list

You mean kinda like invading other countries and stealing their oil?

DarkJedi · 02-19-2009, 09:24 AM

Quote:

Originally Posted by Ethersync

The lesson here is if you have a Swiss account that you want to keep secret from the US government you had better make damn sure that the bank the account is with does not have a presence in the US...

Exactly.

sperbonzo · 02-19-2009, 09:26 AM

You can thank obama for that one. It started in 2007 when he pushed through the tax haven act.

http://www.mondaq.com/article.asp?articleid=72942

Weeeeeeee!!!!

.

sperbonzo · 02-19-2009, 09:28 AM

"Overview Of Obama's Stop Tax Haven Abuse Act

The STHAA would restrict the use of offshore financial centers by US persons by (i) imposing a rebuttable presumption that certain transactions between US persons and entities located in certain offshore jurisdictions are taxable, (ii) raising reporting and withholding requirements on financial institutions and fiduciaries dealing with offshore jurisdictions, and (iii) increasing penalties for tax avoidance through offshore jurisdictions.

It has been estimated that the Proposal would generate up to $50 billion of additional tax revenue annually. This anticipated tax revenue could be used to offset the costs of proposed tax breaks for middle-income Americans and a wide array of new spending programs, which Obama has promised to champion over the first few months of his presidency.

Guilty until proven innocent

The centrepiece of the STHAA is a provision that would force taxpayers to prove that they do not have control over any offshore entities with which they contract. Under this 'guilty until proven innocent' approach, the STHAA presumes that a US person has control of an entity (which includes trusts, corporations, limited liability companies and partnerships) created or domiciled in a so-called Offshore Secrecy Jurisdiction if the US person directly or indirectly formed, transferred, received assets or is a beneficiary of that entity.

The STHAA also creates a presumption of taxable income for any transfer from an offshore entity to a US person, and a presumption of unreported taxable income for any transfer from a US person to an offshore jurisdiction. Taxpayers could only rebut these presumptions by providing direct evidence that all tax owed on such amounts had been paid.

Tax havens???

The initial list of 34 'Offshore Secrecy Jurisdictions' is surprisingly broad and includes Jersey, Guernsey, the Isle of Man, Switzerland, Singapore, the Cayman Islands, the British Virgin Islands, Bermuda, the Bahamas, Hong Kong, Costa Rica and Belize. Designation as a 'tax haven' would result if the Treasury Department determines that the jurisdiction has rules in place that "unreasonably restrict the ability of the US to obtain information relevant to the enforcement" of its tax laws.

Many practitioners have expressed concern that the initial list of jurisdictions fails to separate those jurisdictions operating in conformity with widely accepted international standards from other 'rogue' jurisdictions. For example, several listed jurisdictions have signed Tax Information Exchange Agreements with the US (some very recently) and are nevertheless included on the list. Should this legislation be enacted, it is uncertain which jurisdictions ultimately may be targeted, but it appears that additional consideration should be given to what triggers inclusion on the STHAA blacklist.

Heightened reporting requirements

In an effort to ferret out potential tax abuses, the STHAA would create a presumption that any account with a financial institution formed, domiciled or operating in an Offshore Secrecy Jurisdiction has sufficient funds to trigger reporting to the IRS. The STHAA also would require financial institutions that open accounts for US persons or create nonpublicly- traded entities in Offshore Secrecy Jurisdictions to report such transactions to the IRS.

The reporting of such transactions is already required of the individual taxpayers involved, but the Proposal would place this burden on intermediaries as well and would apply to US and foreign financial institutions, fiduciaries and corporate directors.

Grantor trust rules

The STHAA expressly targets offshore trusts. The Proposal would further expand the already broad rules setting out when a US person establishing an 'offshore' trust is treated as the tax owner of the trust's income and gains. This would be accomplished by amending Section 672 of the Internal Revenue Code (the 'Code') by attributing to the grantor of a trust any power held by a trust protector and amending Section 679 of the Code to treat any US person receiving cash or other property from a foreign trust as a beneficiary of such trust.

Personal use property and loans

With respect to personal use property, the Proposal would amend Section 643(i) of the Code to treat cash, marketable securities, artwork, jewellery or other personal property loaned by a foreign trust to a US person as a taxable distribution. Such a loan would be deemed taxable on the value of the use of such property, although it is unclear how the amount of these taxes would be calculated.

Penalties and deterrents

The STHAA is clearly not intended to be a paper tiger, as evidenced by several provisions that give this tiger teeth. Senator Carl Levin, the principal sponsor of the STHAA, announced when introducing the legislation that some of the current penalties for tax evasion are "like a jaywalking ticket for robbing a bank."

The Proposal would give the IRS six years instead of three to complete audits, combating the perceived sluggishness of offshore jurisdictions to respond to audit requests. It would also broaden the use of socalled 'John Doe' summonses that are used to obtain information from offshore jurisdictions in tax investigations. Both provisions would give the IRS a decided advantage in the audit process.

Financial institutions and fiduciaries would not escape penalty for failing to comply with the STHAA. The US Department of Treasury could prohibit US banks from opening accounts for noncompliant foreign financial institutions and could prohibit US financial institutions from accepting credit card transactions involving noncompliant foreign banks.

The Proposal also calls for the codification of the 'economic substance' doctrine. This doctrine requires that transactions not only satisfy all relevant legal requirements but also must have a real economic purpose other than the creation of tax benefits. Courts have used the economic substance doctrine in the past to combat what they perceived to be 'sham' transactions. The STHAA would codify this doctrine and levy a 40 percent penalty on underpayments of tax resulting from transactions that lack economic substance."

.

tranza · 02-19-2009, 09:31 AM

Damn...!

Tom_PM · 02-19-2009, 09:32 AM

oh nm, posted now.

grumpy · 02-19-2009, 09:32 AM

cheap fucks, just pay your taxes

czarina · 02-19-2009, 09:42 AM

and here I thought nobody would spill the beans about me ;)

HomerSimpson · 02-19-2009, 10:04 AM

Quote:

Originally Posted by Wizzo

All the real money is hidden in Dubai and HongKong these days...

I agree...

And I think that UBS gave only records needed for the case...
Don't believe that they sent all their records to the US...

tony286 · 02-19-2009, 10:16 AM

Quote:

Originally Posted by grumpy

cheap fucks, just pay your taxes

thank you grumpy

notoldschool · 02-19-2009, 10:24 AM

YAAAAAAAAAAAAAAAAAAAAAAA! If i got to pay taxes to fix this shithole then the cheap fuckers who make millions need to as well. For people that say Obama is bad for doing this...FUCK U. its about time someone took care of the crooks that have been fucking our country all along. Again fuck u.

ADL Colin · 02-19-2009, 10:30 AM

Surely none of these people are trying to hide their income in order to avoid taxation. It's all a simple misunderstanding. Really.

ADL Colin · 02-19-2009, 10:35 AM

Every person who hides their income in "safe tax havens" increases the taxes the rest of us have to pay. fuck them.

potter · 02-19-2009, 10:42 AM

Quote:

Originally Posted by notoldschool

YAAAAAAAAAAAAAAAAAAAAAAA! If i got to pay taxes to fix this shithole then the cheap fuckers who make millions need to as well. For people that say Obama is bad for doing this...FUCK U. its about time someone took care of the crooks that have been fucking our country all along. Again fuck u.

agreed

Mr Pheer · 02-19-2009, 10:50 AM

I do all my banking in Corvallis, Oregon

tiger · 02-19-2009, 12:16 PM

Quote:

Originally Posted by grumpy

cheap fucks, just pay your taxes

patavax · 02-19-2009, 02:14 PM

Never Trust A Bank. That means N E V E R...

Europe (Switzerland is not in E.U. but I think that will change within 10 years or less if not Switzerland will / is in co-op with E.U.) is not good at all for offshore banking!
Even Cyprus is a temp. solution!

Carribean Area is best ! For the time being...

Furious_Male · 02-19-2009, 02:19 PM

Quote:

Originally Posted by Pleasurepays

People just can't seem to grasp that when you are suspected of financial crimes in the US or are a US Citizen... you have zero privacy... no matter where your money is. Your money is not safe anywhere, in any bank. banks can't move US dollars and deal in US Dollars around the world without complying with the US Treasury Depts rules. Period.

Try moving millions of dollars around the world through a network of companies and see your bank be put of the Treasury Depts list of money laundering banks and see how fast they give all your shit up in spite of all the bullshit about privacy, not having information sharing agreements etc that you were told by countless professionals in the beginning.

been there. done that.

In post 9/11 world.. you have no banking privacy if you are moving real money around. there is just no such thing. There are simply those who have been tested / prosecuted and those who haven't.

You are right on the money. Those that think they are being sneaky really have no clue. When/If the US govt. wants to see your money flow they will be able to do it without a problem.

Cyprus cracks me up. People that honestly think that is a safe haven that the US govt. doesn't have access to have another thing coming when shit hits the fan.

notime · 02-19-2009, 02:45 PM

All taxes worldwide compared:
http://www.worldwide-tax.com/

Cyprus - IRS Tax Treaty Documents
http://www.irs.gov/businesses/intern...169497,00.html

ADL Colin · 02-19-2009, 02:53 PM

Quote:

Originally Posted by Jesus H Christ

Not necessarily true. Let's say you own a business overseas that only sells to countries "outside" the US and you pay the local tax. Why should you be subjected to the US tax because you were born American?

Depends on the law. If they are breaking it then yes they are increasing my taxes by avoiding the law. Whether they disagree with the law is immaterial. There are a lot of laws I disagree with that I still obey -- and a few I don't ;-)

jollyperv · 02-19-2009, 03:02 PM

Party's over

Marshal · 02-19-2009, 03:39 PM

switzerland is not secure bank heaven for a long while... old news...

GetSCORECash · 02-19-2009, 03:43 PM

Quote:

Originally Posted by grumpy

cheap fucks, just pay your taxes

Quote:

Originally Posted by tony404

thank you grumpy

Thank You again Grumpy! From those of us who do pay taxes so that we can get our garbage picked up on time.

Ethersync · 02-19-2009, 04:11 PM

Quote:

Originally Posted by ADL Colin

Every person who hides their income in "safe tax havens" increases the taxes the rest of us have to pay. fuck them.

Well, what about all the fucktards that got an ARM loan with nothing down for a house they knew they could never afford and now being bailed out by uncle sam? They increase our taxes too. You complaining about that?

Due · 02-19-2009, 04:23 PM

Quote:

Originally Posted by notime

All taxes worldwide compared:
http://www.worldwide-tax.com/

Cyprus - IRS Tax Treaty Documents
http://www.irs.gov/businesses/intern...169497,00.html

I don't see Andorra listed there, it deserve a listing, that's where I live

starpimps · 02-19-2009, 04:40 PM

who the fuck still banks with the swiss.

Vendot · 02-19-2009, 04:40 PM

Thats cos you dont have enough people......

Isnt there zero income tax there in Andorra?

Due · 02-19-2009, 04:55 PM

Quote:

Originally Posted by Vendot

Thats cos you dont have enough people......

Isnt there zero income tax there in Andorra?

That's true, just because we are a minority doesn't mean that we should be left out

TurboAngel · 02-19-2009, 04:55 PM

Snaaaaaaap

ADL Colin · 02-19-2009, 06:52 PM

Quote:

Originally Posted by Ethersync

Well, what about all the fucktards that got an ARM loan with nothing down for a house they knew they could never afford and now being bailed out by uncle sam? They increase our taxes too. You complaining about that?

Hell yeah I'm complaining about that! What about it?

james_clickmemedia · 02-20-2009, 05:52 AM

I thought the account were numbered and don't have names on them.

02-19-2009, 04:52 AM	#1
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	UBS Swiss Bank to give USA Gov their USA client list! OMFG! http://news.yahoo.com/s/ap/20090218/...ge/ubs_secrets Hope you fellas have director nominees on those offshore accounts. I'm speechless over this one.

02-19-2009, 05:05 AM	#3
asianseekerz Confirmed User Join Date: Aug 2008 Posts: 1,609	do we sill need to trust doing offshore bank with swiss.... __________________ LUSTY LIFES : Dad & Daughter Wild Adventures : Naughty Wild Sister Contact : ICQ : 372109 Email add: [email protected]

02-19-2009, 05:06 AM	#4
Kick Ass Chat Confirmed User Join Date: Dec 2002 Posts: 2,057	Interresting read for sure. __________________ [email protected]

02-19-2009, 06:05 AM	#7
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,912	Most likely the US is using the Patriot act to get the info. With that the feds can automatically suspend trade and set up embargoes against any country that refuses to work with the US on information that they say could be terrorist related. So all they have to say is... __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

02-19-2009, 06:23 AM	#8
kmanrox aka K-Man Industry Role: Join Date: Oct 2001 Location: The Gutter Posts: 29,282	uh oh.... __________________ Crypto HODLr Crypto mining Angel investor

02-19-2009, 05:05 AM	#2
Jon Clark - BANNED FOR LIFE North Coast Pimp Join Date: Dec 2005 Location: 304-534-757 Posts: 9,395	Dizzity.. Damn...

02-19-2009, 05:14 AM	#5
Ethersync Confirmed User Join Date: Mar 2008 Location: London, Saint-Tropez, Bermuda, Moscow Posts: 5,289	The lesson here is if you have a Swiss account that you want to keep secret from the US government you had better make damn sure that the bank the account is with does not have a presence in the US...

02-19-2009, 05:54 AM	#6
buyandsell Confirmed User Industry Role: Join Date: May 2008 Location: USA Posts: 692	I am assuming UBS had some part of it based in USA otherwise they wouldn't have been able to do this. If you look at all the money the govt is spending on stimulus etc they need to claw revenue back somewhere.

02-19-2009, 06:26 AM	#9
Mickey_ Industry Role: Join Date: Nov 2005 Location: Worldwide Posts: 4,238	that will affect quite a few.. __________________ LifeSelector Affiliates - Make money today promoting the online porn of tomorrow. mb [at] lifeselector.com

02-19-2009, 06:30 AM	#10
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	that is dirty __________________ BUY MY SIG - 50$/Year Contact here

02-19-2009, 07:35 AM	#11
notime Confirmed User Industry Role: Join Date: Jun 2003 Location: cyberspace Posts: 8,019	so far for the swiss bank secrect...

02-19-2009, 07:37 AM	#12
Wizzo 2011 GFY Hall of Fame! Industry Role: Join Date: Nov 2000 Location: Back in Texas! Posts: 15,226	All the real money is hidden in Dubai and HongKong these days... __________________ Looking for Opportunity!

02-19-2009, 08:26 AM	#16
HorseShit Too lazy to set a custom title Join Date: Dec 2004 Posts: 17,513	that's fucked up

02-19-2009, 08:27 AM	#17
Pleasurepays BANNED - SUPPORTING TUBES Join Date: Aug 2002 Location: I live in a pile of boogers Posts: 11,913	People just can't seem to grasp that when you are suspected of financial crimes in the US or are a US Citizen... you have zero privacy... no matter where your money is. Your money is not safe anywhere, in any bank. banks can't move US dollars and deal in US Dollars around the world without complying with the US Treasury Depts rules. Period. Try moving millions of dollars around the world through a network of companies and see your bank be put of the Treasury Depts list of money laundering banks and see how fast they give all your shit up in spite of all the bullshit about privacy, not having information sharing agreements etc that you were told by countless professionals in the beginning. been there. done that. In post 9/11 world.. you have no banking privacy if you are moving real money around. there is just no such thing. There are simply those who have been tested / prosecuted and those who haven't.

02-19-2009, 09:01 AM	#18
scuba steve Confirmed User Join Date: Oct 2008 Location: i'm in miami bitch Posts: 1,888	still sounds illegal to force another company to give up their international client list __________________

02-19-2009, 09:17 AM	#19
minddust Confirmed User Join Date: Feb 2005 Posts: 2,438	fuck! I'm transfering all my found to my ecrap account

02-19-2009, 09:26 AM	#22
sperbonzo I'd rather be on my boat. Industry Role: Join Date: May 2003 Location: Miami, FL Posts: 9,743	You can thank obama for that one. It started in 2007 when he pushed through the tax haven act. http://www.mondaq.com/article.asp?articleid=72942 Weeeeeeee!!!! . __________________ Michael Sperber / Acella Financial LLC/ Online Payment Processing [email protected] / http://Acellafinancial.com/ ICQ 177961090 / Tel +1 909 NET BILL / Skype msperber

02-19-2009, 09:28 AM	#23
sperbonzo I'd rather be on my boat. Industry Role: Join Date: May 2003 Location: Miami, FL Posts: 9,743	"Overview Of Obama's Stop Tax Haven Abuse Act The STHAA would restrict the use of offshore financial centers by US persons by (i) imposing a rebuttable presumption that certain transactions between US persons and entities located in certain offshore jurisdictions are taxable, (ii) raising reporting and withholding requirements on financial institutions and fiduciaries dealing with offshore jurisdictions, and (iii) increasing penalties for tax avoidance through offshore jurisdictions. It has been estimated that the Proposal would generate up to $50 billion of additional tax revenue annually. This anticipated tax revenue could be used to offset the costs of proposed tax breaks for middle-income Americans and a wide array of new spending programs, which Obama has promised to champion over the first few months of his presidency. Guilty until proven innocent The centrepiece of the STHAA is a provision that would force taxpayers to prove that they do not have control over any offshore entities with which they contract. Under this 'guilty until proven innocent' approach, the STHAA presumes that a US person has control of an entity (which includes trusts, corporations, limited liability companies and partnerships) created or domiciled in a so-called Offshore Secrecy Jurisdiction if the US person directly or indirectly formed, transferred, received assets or is a beneficiary of that entity. The STHAA also creates a presumption of taxable income for any transfer from an offshore entity to a US person, and a presumption of unreported taxable income for any transfer from a US person to an offshore jurisdiction. Taxpayers could only rebut these presumptions by providing direct evidence that all tax owed on such amounts had been paid. Tax havens??? The initial list of 34 'Offshore Secrecy Jurisdictions' is surprisingly broad and includes Jersey, Guernsey, the Isle of Man, Switzerland, Singapore, the Cayman Islands, the British Virgin Islands, Bermuda, the Bahamas, Hong Kong, Costa Rica and Belize. Designation as a 'tax haven' would result if the Treasury Department determines that the jurisdiction has rules in place that "unreasonably restrict the ability of the US to obtain information relevant to the enforcement" of its tax laws. Many practitioners have expressed concern that the initial list of jurisdictions fails to separate those jurisdictions operating in conformity with widely accepted international standards from other 'rogue' jurisdictions. For example, several listed jurisdictions have signed Tax Information Exchange Agreements with the US (some very recently) and are nevertheless included on the list. Should this legislation be enacted, it is uncertain which jurisdictions ultimately may be targeted, but it appears that additional consideration should be given to what triggers inclusion on the STHAA blacklist. Heightened reporting requirements In an effort to ferret out potential tax abuses, the STHAA would create a presumption that any account with a financial institution formed, domiciled or operating in an Offshore Secrecy Jurisdiction has sufficient funds to trigger reporting to the IRS. The STHAA also would require financial institutions that open accounts for US persons or create nonpublicly- traded entities in Offshore Secrecy Jurisdictions to report such transactions to the IRS. The reporting of such transactions is already required of the individual taxpayers involved, but the Proposal would place this burden on intermediaries as well and would apply to US and foreign financial institutions, fiduciaries and corporate directors. Grantor trust rules The STHAA expressly targets offshore trusts. The Proposal would further expand the already broad rules setting out when a US person establishing an 'offshore' trust is treated as the tax owner of the trust's income and gains. This would be accomplished by amending Section 672 of the Internal Revenue Code (the 'Code') by attributing to the grantor of a trust any power held by a trust protector and amending Section 679 of the Code to treat any US person receiving cash or other property from a foreign trust as a beneficiary of such trust. Personal use property and loans With respect to personal use property, the Proposal would amend Section 643(i) of the Code to treat cash, marketable securities, artwork, jewellery or other personal property loaned by a foreign trust to a US person as a taxable distribution. Such a loan would be deemed taxable on the value of the use of such property, although it is unclear how the amount of these taxes would be calculated. Penalties and deterrents The STHAA is clearly not intended to be a paper tiger, as evidenced by several provisions that give this tiger teeth. Senator Carl Levin, the principal sponsor of the STHAA, announced when introducing the legislation that some of the current penalties for tax evasion are "like a jaywalking ticket for robbing a bank." The Proposal would give the IRS six years instead of three to complete audits, combating the perceived sluggishness of offshore jurisdictions to respond to audit requests. It would also broaden the use of socalled 'John Doe' summonses that are used to obtain information from offshore jurisdictions in tax investigations. Both provisions would give the IRS a decided advantage in the audit process. Financial institutions and fiduciaries would not escape penalty for failing to comply with the STHAA. The US Department of Treasury could prohibit US banks from opening accounts for noncompliant foreign financial institutions and could prohibit US financial institutions from accepting credit card transactions involving noncompliant foreign banks. The Proposal also calls for the codification of the 'economic substance' doctrine. This doctrine requires that transactions not only satisfy all relevant legal requirements but also must have a real economic purpose other than the creation of tax benefits. Courts have used the economic substance doctrine in the past to combat what they perceived to be 'sham' transactions. The STHAA would codify this doctrine and levy a 40 percent penalty on underpayments of tax resulting from transactions that lack economic substance." . __________________ Michael Sperber / Acella Financial LLC/ Online Payment Processing [email protected] / http://Acellafinancial.com/ ICQ 177961090 / Tel +1 909 NET BILL / Skype msperber Last edited by sperbonzo; 02-19-2009 at 09:29 AM..

02-19-2009, 09:31 AM	#24
tranza ICQ: 197-556-237 Join Date: Jun 2003 Location: BRASIL !!! Posts: 57,559	Damn...! __________________ I'm just a newbie.

02-19-2009, 09:32 AM	#25
Tom_PM Porn Meister Industry Role: Join Date: Feb 2005 Posts: 16,443	oh nm, posted now. __________________ 43-922-863 Shut up and play your guitar.

02-19-2009, 09:32 AM	#26
grumpy Too lazy to set a custom title Join Date: Jan 2002 Location: Holland Posts: 9,870	cheap fucks, just pay your taxes __________________ Don't let greediness blur your vision \| You gotta let some shit slide icq - 441-456-888

02-19-2009, 09:42 AM	#27
czarina Webmaster Extraordinaire Industry Role: Join Date: Jul 2002 Location: A beautiful beach... Posts: 10,746	and here I thought nobody would spill the beans about me ;)

02-19-2009, 10:24 AM	#30
notoldschool Confirmed User Join Date: Aug 2007 Posts: 5,687	YAAAAAAAAAAAAAAAAAAAAAAA! If i got to pay taxes to fix this shithole then the cheap fuckers who make millions need to as well. For people that say Obama is bad for doing this...FUCK U. its about time someone took care of the crooks that have been fucking our country all along. Again fuck u. __________________ No doubt one may quote history to support any cause, as the devil quotes scripture. -- Learned Hand http://www.bjpenn.com

02-19-2009, 10:30 AM	#31
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Surely none of these people are trying to hide their income in order to avoid taxation. It's all a simple misunderstanding. Really. __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

02-19-2009, 10:35 AM	#32
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Every person who hides their income in "safe tax havens" increases the taxes the rest of us have to pay. fuck them. __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

02-19-2009, 10:50 AM	#34
Mr Pheer Living inside your head. Industry Role: Join Date: Dec 2002 Location: In your AirBNB Posts: 20,550	I do all my banking in Corvallis, Oregon

02-19-2009, 02:14 PM	#36
patavax Confirmed User Join Date: Nov 2006 Posts: 222	Never Trust A Bank. That means N E V E R... Europe (Switzerland is not in E.U. but I think that will change within 10 years or less if not Switzerland will / is in co-op with E.U.) is not good at all for offshore banking! Even Cyprus is a temp. solution! Carribean Area is best ! For the time being... __________________ $$$ Buying PR adult sites / domains - patavax[at]yahoo[dot]com $$$ My host? TECHIE MEDIA is the best!

02-19-2009, 02:45 PM	#38
notime Confirmed User Industry Role: Join Date: Jun 2003 Location: cyberspace Posts: 8,019	All taxes worldwide compared: http://www.worldwide-tax.com/ Cyprus - IRS Tax Treaty Documents http://www.irs.gov/businesses/intern...169497,00.html

02-19-2009, 03:02 PM	#40
jollyperv Confirmed User Industry Role: Join Date: Nov 2001 Location: NYC Posts: 3,927	Party's over

02-19-2009, 03:39 PM	#41
Marshal Biz Dev and SEO Industry Role: Join Date: Jun 2005 Posts: 15,147	switzerland is not secure bank heaven for a long while... old news... __________________ --- Busy ranking websites on Google...

02-19-2009, 04:40 PM	#45
starpimps Confirmed User Join Date: Sep 2006 Location: internets Posts: 6,954	who the fuck still banks with the swiss.

02-19-2009, 04:40 PM	#46
Vendot Confirmed User Industry Role: Join Date: May 2002 Location: Malaysia Posts: 3,376	Thats cos you dont have enough people...... Isnt there zero income tax there in Andorra?

02-19-2009, 04:55 PM	#48
TurboAngel H.B.I.C. Industry Role: Join Date: Jun 2003 Location: NC Posts: 30,122	Snaaaaaaap

02-20-2009, 05:52 AM	#50
james_clickmemedia Confirmed User Join Date: Apr 2003 Location: Texas / London Posts: 2,204	I thought the account were numbered and don't have names on them. __________________ $ CLICKMEMEDIA.COM $ CONVERTING ETHNIC TRAFFIC SINCE 1998 ~ $30+PPS BLACK-X.COM - NEW BLACK EX-GF SITE CLICKMEMEDIA.COM ~ ICQ - 8788771