We previously posted More fallout from the "Panama Papers" - Commercial Bank of Taiwan To Pay a $180 Million Penalty we where we discussed that Financial Services Superintendent Maria T. Vullo announced on 8/19/16 that Mega International Commercial Bank of Taiwan will pay a $180 million penalty and install an independent monitor for violating New York’s anti-money laundering laws.
Now the Swiss federal authorities have announced that 450 Swiss individuals and companies listed in the Mossack Fonseca data leak have been found to 'have a link to offshore structures and Switzerland'.
Their records will be passed onto the Swiss Cantons to determine whether tax evasion has been committed, keeping in mind that under Swiss law., the use of an offshore entity is not, in and of itself, illegal.
Do You Have Undeclared Income
From A Foreign Entity Formed By
Do You Have Undeclared Accounts
With Any of the Following Foreign Banks?
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