The document is a report from the United States Senate Permanent Subcommittee on Investigations, detailing efforts to combat offshore tax evasion by U.S. taxpayers using hidden offshore accounts. It focuses on the role of Swiss banks, particularly Credit Suisse, in facilitating tax evasion by U.S. clients. The report outlines the investigation into Credit Suisse's practices, including recruiting U.S. clients, facilitating secrecy, and weak oversight of U.S.-linked accounts. It also discusses the U.S. government's efforts to enforce tax compliance and the challenges posed by Swiss secrecy laws. The report includes recommendations for improving prosecution of tax haven banks, increasing transparency, and closing loopholes in the Foreign Account Tax Compliance Act (FATCA).
documents/EFTA01115824.pdf
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