Swiss Banks Tax Evasion Deal To Hit UK Savers

British taxpayers who have money stashed in Swiss banks could see a significant chunk taken by the Treasury after a deal was struck between the two countries.

Existing account holders could be hit by a one-off deduction of between 19% and 34% in an attempt to settle any tax they owe.

Those who have already declared the full details of where their money is and paid their taxes should be unaffected by the plan, which could raise £5bn for Treasury coffers by 2015.

Chancellor George Osborne said the agreement heralded the end of an era when it was “easy to stash the profits of tax evasion in Switzerland“.

However, tax justice campaigner Richard Murphy told Sky News the deal set an “appalling precedent”.

“Honest taxpayers will now see that it pays – you get a reduction on your tax bill – by cheating, by hiding your money offshore,” he said.

Treasury minister David Gauke disputed the claim, saying that individuals who were being pursued by HMRC over unpaid taxes would be excluded from the deal.

“This is not one big amnesty,” he told Sky News.

George Osborne said the wealthy must pay their fair share

 UK residents with money in Switzerland will also be affected by a new tax deducted at source, which will be 48% on investment income and 27% on gains.

The two countries have agreed to share more information and, as a gesture of good faith, Swiss banks will make an up-front payment to the UK of £384m.

The country is keen to shed its image as a safe haven for money that has not been properly declared to HM Revenue and Customs in the UK.

“Tax evasion is wrong at the best of times, but in economic circumstances like this it means that hard-pressed, law-abiding taxpayers are forced to pay even more,” Mr Osborne said.

“That is why this coalition Government made it a priority to go after those who don’t pay their fair share.

“We will be as tough on the richest who evade tax as on those who cheat on benefits.”

There is a stark choice for those who have abused Swiss banking secrecy – come forward and disclose, or run the risk of losing over a third of your historic Swiss assets.

Paul Harrison, KPMG‘s head of tax investigations

The deal is politically significant because the coalition wants to demonstrate its cuts to some benefits are being matched by equally stringent policies affecting the rich.

Describing it as an “historic” announcement, Exchequer Secretary to the Treasury David Gauke said too many people had abused Swiss banking secrecy.

“The message is clear: there is no hiding place for tax cheats,” he added.

However, experts warned wealthy UK residents may simply transfer their cash elsewhere to avoid paying up.

Chris Oates, head of Ernst and Young’s tax controversy team, predicts more people will move their assets to Liechtenstein.

“This will undoubtedly provide a much-needed boost to the UK’s finances. It is expected to generate billions of additional tax flows to the UK Exchequer,” he said.

The coalition wants to show it is targeting rich cheats, not just benefit claimants

“But HMRC will miss an opportunity to establish whether these individual cases are involved in much wider tax evasion as it will only be based on Swiss assets.”

KPMG’s head of tax investigations, Paul Harrison, said the move was “very significant”.

“It seems there is a stark choice for those who have abused Swiss banking secrecy – come forward and disclose, or run the risk of losing over a third of your historic Swiss assets,” he explained.

“But the authorities need to take care that the innocent and the confused do not get caught up in this.

“There will be people who simply don’t know whether they have a problem and they will need help to sort their affairs out.”

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• Chancellor George Osborne launches £5bn tax raid on Swiss bank accounts (telegraph.co.uk)
• Tax deal with Swiss banks agreed (bbc.co.uk)
• Government faces criticism over tax deal (simplybusiness.co.uk)
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• Fiona Fernie: Has Tackling Tax Evasion Reached a Turning Point? (huffingtonpost.com)
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Medvedev Shows Off Sample Coin of New World Currency At G8

Dimitri Medvedev has introduced the new sample global supranational currency that will replace sovereign currencies in the near future.

Sample Coinage of the New Supranational One World Currency

The Amero

The Bible tells us that at the end of the age, planet earth will have a global currency that will be used to bring the citizens of the earth under the total control of the one-world government. Every world citizen will not be able to buy or sell anything without having a mark on their hand or forehead (a type of supranational identification mark). Those who refuse will be shut out of the world economic system and terminated. The Bible also tells us that those who accept the mark will be doomed spiritually. More about this subject in later blogs ….

I believe that the turmoil we are currently seeing in global economies is nothing less than a planned demolition of the world economy to usher in the planned new one world currency. Introducing the end-time Mark of the Beast and the Satanic end-time global economic system, cannot be achieved while countries have strong economies or currencies. I predict that we will see an ever-increasing wave of collapsing economies and currencies that require financial bailouts, only to be brought into the dragnet of the New World Order, and it’s tyrannical and absolute control. The Bible is very clear that this new world government, economic system and one world religion, will be inspired by Satan himself with the express purpose of destroying the people of the earth – men and women created in the image of God our Creator.

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George Green Reveals the New World Order plans to Exterminate the Masses

Whistle Blower Former CIA and International Banker George Green tells it like it is. The evil plan of the New World Order to exterminate the world population. Other subjects discussed in this video: World War Three, Georgia Guidestones, Population Reduction, Eugenics, CIA, FEMA Camps, Martial Law

Rockefeller Reveals 9/11 FRAUD to Aaron Russo

America: Freedom to Fascism Filmmaker Aaron Russo has exposed first-hand knowledge of the elite global agenda during a video interview and live on Alex Jones‘ nationally-syndicated radio show. This interview also refers to the plan to microchip the world population.

Nick Rockefeller told Russo about the plan to microchip the population, warned him about ‘an event that would allow us to invade Afghanistan and Iraq‘ some eleven months before 9/11 and foretold the fact that the ‘War on Terror‘ would be a hoax wherein soldiers would be looking in caves for non-existant enemies.

Rockefeller also tried to recruit Aaron Russo to the Council on Foreign Relations during the tenure of their friendship. Now, a picture send by the Russo family verifies that friendship and strengthens evidence of the global agenda which Rockefeller related to the filmmaker so frankly during their private conversations.

Russo goes in-depth for first time on the astounding admissions of Nick Rockefeller, including his prediction of 9/11 and the war on terror hoax, the Rockefeller’s creation of women’s lib, and the elite’s ultimate plan for world population reduction and a microchipped society

In the full interview, available on Google Video, Aaron begins by describing how the draconian and mafia tactics of Chicago police woke him up to the fact that America wasn’t free after his nightclub was routinely raided and he was forced to pay protection money.

Aaron and Alex then cover a broad range of topics including the private run for profit federal reserve, Aaron’s experience in the late 80’s with the IRS when they retroactively passed laws to punish silver and gold traders, the real meaning of the word “democracy,” what really happened on 9/11 and Aaron’s relationship with Nick Rockefeller, who personally tried to recruit him on behalf of the CFR.

Aaron also relates how Rockefeller told him that the elite created women’s liberation to destroy the family and how they want to ultimately microchip and control the entire population. Rockefeller also told Russo, before 9/11, that an unexpected “event” would catalyze the U.S. to invade Afghanistan and Iraq.

After you watch this, please check out the full 69-minute interview. Here’s the link:

http://video.google.co.uk/videoplay?docid=5420753830426590918

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