criminal prosecutions are rarely worth the time for the IRS http://baumanblog.sovereignsociety.com/2008/04/auditing-the-an.html
The Swiss recently passed an amendment to their constitution guaranteeing bank secrecy. But of course that doesn't apply to the US subsidiary of a Swiss bank. If you want a secrecy you can't leave a paper-trail in your home country.
The Germans, French, Brits and US will threathen to pull the license to do business....freeze assets of holdings It is a joke to think they won't put you in jail for tax evasion.... Odds are probably not high, but why take that risk....but it is your decesion..... SteveD
This article deals mainly with the EU savings directive, but it should give you an idea of whats going on. http://baumanblog.sovereignsociety.com/2008/07/eu-tax-directiv.html
I think the only hope is that some countries will stay and/or go low tax which will create competition for government tax rates since some people/corporations will actually renounce citizenship and/or move offshore. Eventually, it would seem any way, even governance has to get competitive?
There are entirely too many mutual pacts/trade agreements to ever have developed countries get too competitive on taxes.... They need the tax money also....how loud is a 100 year old company in a country going to howl when they lower taxes for a US newcomer.... And companies may move divisions/projects around to best suit the tax situation..... But what we are talking about is tax evasion by secretely hiding money from the tax authorities of home country.... All the US has to do is suspend UBS license for 10 days to get their attention.....the new management would give up records in 30 seconds...the old management would be gone on day 1.... I hate to pay taxes but I damn sure don't want to go to jail.... SteveD
Gold, gems. Bearer bonds? Chinese prospectors melted American gold into pots and pans, painted them black, and took them back to China.