“Curiously, the imposition of a tax on money deposited in Cyprus banks will hurt many Russian tax evaders, as the Wikileaks released cable below highlights, the amount of money placed in Cyprus by Russians attempting to evade Russian taxes is significant relative to the overall Cyprus banking system. The imposition of the tax is surely going to cause a flight of these funds out of Cyprus to a more stable tax haven–which is likely to destabilize the Cypriot banking sector even more.”

http://www.economicpolicyjournal.com/2013/03/confidential-wikileaks-cable-us-embassy.html

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy