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As of August 25, 2015, and as a result of increasing number of DOJ Swiss Bank Program Non-Prosecution agreements, 2015, higher OVDP penalties (50 %) apply to US account holders of 43 banks. Between August 1 and August 20, 2015, six more banks were added to the 50% penalty list. In this article, I would […]
On August 20, 2015, the US Department of Justice announced another Swiss Bank Program update – Bank Zweiplus AG (Bank Zweiplus) and Banca dello Stato del Cantone Ticino (Banca Stato) have reached resolutions under the department’s Swiss Bank Program. The Swiss Bank Program, which was announced on August 29, 2013, provides a path for Swiss […]
On July 9, 2015, India finally signed the Intergovernmental Agreement (IGA) to implement FATCA. The fact is that the Indian signed FATCA Agreement has significant implications for millions of Indian-Americans who reside in the United States as well as outside of the United States. India Signed FATCA: Background Information on FATCA The Foreign Account Tax […]
On July 2, 2015, the US Department of Justice announced that Privatbank Von Graffenried AG became the fifteenth bank to sign a Non-Prosecution Agreement under the DOJ’s Swiss Bank Program. It also became the 27th bank on the 50% penalty list for US taxpayers who wish to enter the OVDP. Background Information Von Graffenried is […]
On June 26, 2015, the US Department of Justice announced that Ersparniskasse Schaffhausen AG (Ersparniskasse Schaffhausen) signed a Non-Prosecution Agreement under the department’s Swiss Bank Program. Ersparniskasse Schaffhausen Background Ersparniskasse Schaffhausen was founded in 1817 and is wholly owned by a Swiss charitable foundation. It is headquartered in the city and canton of Schaffhausen, Switzerland. […]