“The deal offers individual Swiss banks the opportunity to avoid US prosecution if they agree to pay ‘substantial fines’, disclose all of their cross-border activities, provide details on the accounts of US citizens, and give information on the sources and destinations of transferred funds in relation to secret American accounts. Each bank will set its own non-prosecution agreement or deferred-prosecution agreement with the US authorities under those terms. The fines will be assessed at 20-50 percent of the aggregate value of any undeclared accounts held by Americans, depending on the time they accounts were open — before 2009 or since then.”
http://www.thelocal.ch/20130830/swiss-banks-set-to-pay-hefty-fines-under-us-tax-deal
Related posts:
Bitcoin Rollercoaster Hits China, Challenging Supervision
Russia offers to consider possible Edward Snowden asylum request
The New Truth About the Cop Shot in Watertown: Friendly-Fire in a Getaway
Pressure to legalise marijuana after Australian boy denied treatment
Texas Women Subjected to Roadside Cavity Search Speak Out After Troopers Indicted
Iranian Military Chief: 'We Will Support Syria To The End'
Ron Paul: Bradley Manning Promotes Peace More Than Obama
Syrian rebels say they have received anti-tank and anti-aircraft missiles
Bankers, bankers uber alles, uber alles in der welt
Most Untrustworthy US Police Departments Receive Military Weapons
CIA didn't always know who it was killing in drone strikes, classified documents show
Housing in U.S. Cools as Rate Rise Hits Sales: Mortgages
Death penalty will be sought against Natchitoches police officer
With the end of Fed's QE in sight, U.S. public says 'Huh?'
Bitcoin Couple Travels the World Using Virtual Cash