US Congressional investigators to clamp down on tax evasion

United States Congressional investigators said they would be travelling to Cayman this week to probe tax evasion by several US companies operating in that country.



This reportedly follows a recent incident where a former bank employee in Liechtenstein, allegedly sold customers’ bank statements to the German intelligence services.



US Senator, Carl Levin, said Americans dodge more than US$100 billion in taxes a year by hiding assets in the Cayman Islands and other offshore tax havens.



He said the US government would be taking a tougher stance in dealing with tax dodgers.