Contact Paul +

Time limit is exhausted. Please reload CAPTCHA.

Switzerland

31 countries sign international agreement on country-by-country reporting, but not U.S.

31 countries sign international agreement on country-by-country reporting, but not U.S.

OECD press release (Jan. 27, 2015). On January 27, finance ministers and top officials from 31 countries — which didn’t include the U.S. — signed the Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports (the Agreement), according to an OECD press release. This is the first signing ceremony for the Agreement to facilitate […]

Read the full article →

Swiss government adopts new anti-money laundering rules

Swiss government adopts new anti-money laundering rules

ZURICH (Reuters) – Switzerland’s government on Wednesday adopted new rules to clamp down on money laundering as the country seeks to cast off its reputation as a haven for hidden cash. The new rules, which follow recommendations by the intergovernmental Financial Action Task Force last year, establish fresh due diligence requirements for traders when they […]

Read the full article →

District court upholds its jurisdiction to review IRS’s denial of tax treaty benefits

District court upholds its jurisdiction to review IRS’s denial of tax treaty benefits

Starr International Co, Inc. v U.S. (DC Dist Col), 9/18/2015 116 AFTR 2d ¶ 2015-5260 A district court has upheld its jurisdiction to review IRS’s denial of discretionary tax benefits to a Swiss resident under the U.S.-Swiss income tax treaty. The court rejected IRS’s argument that the denial of these benefits fell within the “committed-to-agency-discretion” […]

Read the full article →

Washington Alert – TIGTA report on IRS employees who violate law, CBO Budget deficit continues to grow, Vadian Bank and DOJ reach deal

Washington Alert – TIGTA report on IRS employees who violate law, CBO Budget deficit continues to grow, Vadian Bank and DOJ reach deal

A new report issued by the Treasury Inspector General for Tax Administration (TIGTA) shed doubt on IRS’s ability to properly address violations of tax law by agency employees. (Audit Report No. 2015-10-002) Federal law requires IRS to terminate employment of an employee “if there is a final determination that the employee committed certain acts of […]

Read the full article →

U.S. manufacturer subject to multiple agency investigations over Swiss tax strategy

U.S. manufacturer subject to multiple agency investigations over Swiss tax strategy

In a form filed with the Securities and Exchange Commission (SEC), Caterpillar Inc., which last year was the subject of a Senate hearing on multinationals shifting profits out of the U.S., revealed that numerous investigations by the Justice Department, IRS, and SEC were ongoing with respect to its tax strategies and overall business structure.According to […]

Read the full article →

UK May Follow U.S. Lead If Pursues HSBC Over Tax

UK May Follow U.S. Lead If Pursues HSBC Over Tax

LONDON (Reuters) – British authorities may follow a trail set by their U.S. counterparts in investigating allegations that HSBC’s Swiss private bank helped its customers dodge taxes, lawyers say. Any prosecution against the bank or individuals could hinge on whether HSBC’s Swiss private banking unit sent staff to the UK and advised clients on how […]

Read the full article →

Washington Alert – U.S. & Hong Kong Pact re FATCA; Credit Suisse Sentenced; TIGTA Report on “Missing” E-mails of IRS; Ryan is new Chair of House Ways & Means CommitteeSwitzerland on Nov. 19 signed the Multilateral Competent Authority Agreement

Washington Alert – U.S. & Hong Kong Pact re FATCA; Credit Suisse Sentenced; TIGTA Report on “Missing” E-mails of IRS; Ryan is new Chair of House Ways & Means CommitteeSwitzerland on Nov. 19 signed the Multilateral Competent Authority Agreement

The U.S. and the Hong Kong Special Administrative Region of the People’s Republic of China on Nov. 13 signed an agreement for cooperation to facilitate the implementation of the Foreign Account Tax Compliance Act (FATCA). On Nov. 17, the U.S. and Barbados signed an agreement to improve international tax compliance and to implement FATCA. The […]

Read the full article →

Lombard Odier breaks with tradition to publish results for first time

Lombard Odier breaks with tradition to publish results for first time

ZURICH (Reuters) – Lombard Odier on Thursday became the second Swiss private bank this week to break with more than two centuries of tradition and publish results for the first time. The figures showed the famously discrete Geneva bank to be more strongly capitalised than its cross-town rival Pictet & Cie, but less than half […]

Read the full article →

No more secrets – Swiss banks learn to shape up, not shut up

No more secrets – Swiss banks learn to shape up, not shut up

ZURICH (Reuters) – Switzerland’s allure as a place to stash cash has been badly damaged by a U.S.-led campaign against tax cheats, and the country’s roughly 140 private banks can no longer rely on a reputation for secrecy to attract wealthy customers. To try and compensate for the hundreds of billions of Swiss francs withdrawn […]

Read the full article →

Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation

Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation

Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation – The Swisspartners Group Is Paying $4.4 Million in Forfeiture and Restitution, as reported by the DOJ. James M. Cole, the Deputy Attorney General of the Department of Justice, Kathryn Keneally, the Assistant Attorney General for the Tax Division of the Department […]

Read the full article →

Credit Suisse nears $2.5 billion deal to end U.S. Tax-Evasion Probe

Credit Suisse nears $2.5 billion deal to end U.S. Tax-Evasion Probe

(Reuters) – Credit Suisse Group AG is expected to plead guilty and pay more than $2.5 billion to U.S. authorities to resolve charges that the Swiss bank helped Americans evade U.S. taxes, people familiar with the discussions said on Thursday. Under the terms being discussed, about $2 billion would go to federal authorities, mainly the […]

Read the full article →

NY regulator subpoenas Credit Suisse in U.S. tax probe – source

NY regulator subpoenas Credit Suisse in U.S. tax probe – source

As reported in Reuters – New York state’s top financial regulator has ordered Credit Suisse to turn in the employment records of its former New York head as part of a widening investigation into potential tax evasion involving the Swiss bank, a source close to the matter told Reuters. The New York State Department of […]

Read the full article →

Portola Valley, Calif., Man Sentenced to Prison for Failure to Report Foreign Bank Accounts Held at UBS

Portola Valley, Calif., Man Sentenced to Prison for Failure to Report Foreign Bank Accounts Held at UBS

Portola Valley, Calif., Man Sentenced to Prison for Failure to Report Foreign Bank Accounts Held at UBS, as reported by the DOJ. Christopher B. Berg of Portola Valley, Calif., was sentenced yesterday to one year and one day in prison to be followed by three years supervised release, announced Assistant Attorney General for the Tax […]

Read the full article →

Legal Costs Hurt Credit Suisse Profit

Legal Costs Hurt Credit Suisse Profit

Legal Costs Hurt Credit Suisse Profit as reported in the news. Credit Suisse said on Thursday that weakness in its investment bank and money set aside to cover legal costs weighed on its fourth-quarter results, contributing to a small profit increase for the Swiss bank. For the last three months of 2013, the bank reported […]

Read the full article →

U.S. says has 106 Swiss requests to join anti-tax-dodging deal

U.S. says has 106 Swiss requests to join anti-tax-dodging deal

WASHINGTON (Reuters) – The U.S. Justice Department has received 106 requests from Swiss entities to participate in a U.S. settlement program aimed at ending a long-running probe of tax-dodging by Americans using Swiss bank accounts, a senior U.S. government official said on Saturday. Speaking at a legal conference in Phoenix, Arizona, assistant attorney general for […]

Read the full article →

Case – Court of Appeal, 4th District: Required Records Doctrine compels production of foreign bank records

Case – Court of Appeal, 4th District:  Required Records Doctrine compels production of foreign bank records

In U.S. v. Under Seal, (CA 4 12/13/2013) 112 AFTR 2d ¶2013-5643, the Court of Appeals for the Fourth Circuit, affirming a district court, has held that two U.S. individuals were required to produce their foreign account bank records pursuant to an IRS subpoena. The Fourth Circuit concluded, similar to decisions of its sister Circuits, […]

Read the full article →

Washington Alert – Bits ‘n Pieces – JCT, Tax Policy Center, Swiss Federal Tax Administration, IRS Funding

Washington Alert – Bits ‘n Pieces – JCT, Tax Policy Center, Swiss Federal Tax Administration, IRS Funding

The Joint Committee on Taxation (JCT) has published a document entitled “List of Expiring Federal Tax Provisions 2013-2024. (JCX-1-14) The document lists federal tax provisions, other than those providing time-limited transition relief after the repeal of an underlying rule, that expired or are currently scheduled to expire in 2013-2024. It includes references to the applicable […]

Read the full article →

Special Report: How Germany’s taxman used stolen data to squeeze Switzerland

Special Report: How Germany’s taxman used stolen data to squeeze Switzerland

Special Report: How Germany’s taxman used stolen data to squeeze Switzerland. (Reuters) – In the digital age, pen and paper are useful tools for intrigue. In 2007, Sina Lapour, an assistant to a private banker at Credit Suisse, hand-copied the names of potential tax evaders listed on two of the firm’s internal computer systems. By […]

Read the full article →

Walgreen Looks Abroad for Growth

Walgreen Looks Abroad for Growth

As reported in the news of the WS Journal, Walgreen Looks Abroad for Growth – It’s Building a Global Presence and Developing Powerful Drug-Buying Clout. The Walgreen WAG +2.16% prescription for future success lies in the partnerships it has forged in the past year, giving the drug retailer a world-wide presence and powerful drug-buying clout. […]

Read the full article →

Swiss Banks Prepare to Bow To U.S. Demands, Grudgingly

Swiss Banks Prepare to Bow To U.S. Demands, Grudgingly

Zurich/Washington (Reuters) – Switzerland’s private banks have until Monday to decide whether to bow to U.S. pressure and ditch the centuries-old culture of secrecy that has made the Alpine state a global vault for the world’s rich. Many are leaving it to the last minute to tell the Swiss financial regulator whether they will participate […]

Read the full article →
Page 1 of 3123
Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

Read More

Connect With Paul on Social Media

Practice Areas & Information

Certifications &
Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney