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Tax fraud occurs if a tax evasion is committed by using falsified documents for deceptive purposes, a crime (Vergehen / crime) punishable by additional imprisonment of up to three years or an additional fine of up to 30,000 CHF. [61] [62] Tax evasion in Switzerland was estimated at CHF 66 billion according to a study in 2023.
An apartment building closed for property tax evasion. Tax evasion is a crime in almost all developed countries, and the guilty party is liable to fines and/or imprisonment. In Switzerland, many acts that would amount to criminal tax evasion in other countries are treated as civil matters. Dishonestly misreporting income in a tax return is not ...
UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
Internal Revenue Service officials are withdrawing their summons in the UBS and Swiss government tax cheaters case, saying they feel confident they've received a full accounting of the information ...
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In November 2009, the Swiss government abolished the distinction between tax fraud (committing a financial crime) and tax evasion (simply "forgetting" the amount of money one has) for foreign clients after international pressure to do so. [19] The distinction remains in place for Swiss nationals. [20]
In the United States "tax evasion" is evading the assessment or payment of a tax that is already legally owed at the time of the criminal conduct. [22] Tax evasion is criminal, and has no effect on the amount of tax actually owed, although it may give rise to substantial monetary penalties.
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