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Bayern boss Hoeness 'hid evidence for a year'

Bayern Munich boss Uli Hoeness faced damaging testimony in a tax trial Tuesday when an official charged the German football legend had withheld incriminating evidence for over a year. New twists and additional witnesses will likely extend the high-profile trial -- in which Hoeness faces a possible jail term -- beyond this week, said a court spokeswoman. Hoeness, 62, in a shock confession told the opening of the trial on Monday that he used Swiss bank accounts to cheat on 18.5 million euros ($25.5 million) in taxes, almost five times the amount prosecutors had assumed.

Treasury tweaks global tax dodge law one last time

By Patrick Temple-West WASHINGTON (Reuters) - The Treasury Department moved on Thursday to shut the door on further 11th-hour tweaks to a new law set to take effect on July 1 that is meant to fight offshore tax evasion by Americans. The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 and has undergone successive delays and revisions, with banks even now saying more time is needed to get ready for it.

U.S., Canada forge deal in global anti-tax dodger push

By Louise Egan and Patrick Temple-West OTTAWA/WASHINGTON (Reuters) - Canada and the United States on Wednesday unveiled a tax information-sharing pact, advancing the Obama administration's fight against tax dodgers, although challenges remained to implementing a U.S. international tax transparency law.

Republicans bash U.S. law targeting offshore tax dodgers

By Patrick Temple-West WASHINGTON (Reuters) - The Republican National Committee (RNC) on Friday called for the repeal of a U.S. anti-tax-evasion law, siding with big banks, libertarians and American expatriates that have criticized the Obama administration statute. At its winter meeting in Washington, the RNC approved by voice vote a resolution in favor of abolishing the 2010 Foreign Account Tax Compliance Act (FATCA), set to take effect in July, marking the party's first explicit attack on the law.

France issues arrest warrant for Swiss bank founder

French judges have issued an arrest warrant for the founder of Swiss bank Reyl and Cie, which is under investigation for tax fraud, a source close to the case said Friday. The warrant came after Dominique Reyl failed to turn up for questioning by investigating magistrates on December 11 and instead sent a letter apologising for his absence, the source said. Reyl and Cie is at the heart of a scandal that saw former French budget minister Jerome Cahuzac resign for keeping undeclared funds in Switzerland and Singapore.

Bayern boss Hoeness to face trial on tax charges

Bayern Munich president Uli Hoeness will face trial next March on charges he hid millions of euros from tax authorities in a Swiss bank account, a court said Monday. The superior regional court in Munich said in a statement that it had agreed to hear the case brought by public prosecutors in July and that proceedings would start on March 10. "The 61-year-old president of FC Bayern is accused by Munich prosecutors of tax evasion," the court said.

Bayern boss Hoeness to face trial on tax charges

Bayern Munich president Uli Hoeness will face trial next March on charges he hid millions of euros from tax authorities in a Swiss bank account, a court said Monday. The superior regional court in Munich said in a statement that it had agreed to hear the case brought by public prosecutors in July and that proceedings would start on March 10. "The 61-year-old president of FC Bayern is accused by Munich prosecutors of tax evasion," the court said.

Swiss court orders jail for five Czechs over privatization deal

By Oliver Hirt and Jan Lopatka ZURICH/PRAGUE (Reuters) - A Swiss court has found a group of Czech managers guilty of money laundering and fraud in a case involving one of the biggest post-communist privatization scandals that led to the seizure of half a billion euros in Swiss banks. The federal court in the southern Swiss town of Bellinzona handed the five Czech managers sentences ranging from 16 to 52 months in a verdict announced late on Thursday.

Swiss lawyer uses $500,000 artwork to post bail

A partner in a Swiss law firm who pleaded guilty to helping American clients evade tax offered up a 19th century painting worth $500,000 (375,000 euros) as bail, local media reported Sunday. Tax lawyer Edgar Paltzer used French master Charles-Francois Daubigny's 1862 work "La gardeuse de chevres" (The goat herder) to pay part of his $2 million bail in New York, where he has been detained since April on tax fraud charges.

Dormant Swiss accounts paid out $6.1 mn in 2012: regulator

Swiss banks paid about six million dollars last year to the heirs of people who left dormant accounts, a report showed on Thursday under a system created after a scandal over money left by Jews during World War II. The banks paid out 5.81 million Swiss francs (4.8 million euros, $6.1 million), the Alpine country's banking ombudsman said in its annual report. Last year a total of 32 heirs received money from dormant accounts, as well as the contents of two bank safes All the funds had been banked after World War II.
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