US Congressional investigators to clamp down on tax evasion
Published:Monday | March 3, 2008 | 2:48 PM
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.