Links - Jan 1

** Also see our permanent list of past story summaries; and Offshore Watch for more stories. **

'Shut Down Super-Rich Tax Havens'
Dec 31 (Sky) - Tax havens that allegedly deprive Britain of billions of pounds should be closed down, according to the nation's biggest union. Using TJN’s Murphy research. Press release here

Swiss Must Fight Tax Fraud, Steinbrueck Tells Ruhr Nachrichten
Dec. 30 (Bloomberg) -- Switzerland and Liechtenstein should offer Germany as much help as they’re granting the U.S. in fighting tax fraud, German Finance Minister Peer Steinbrück said. Swiss officials say they collect withholding tax and pass it on to Germany without naming anyone. That’s a “joke” against the background of an estimated 300 billion euros German taxpayers own in Swiss bank accounts, Steinbrueck said.

Madoff Spotlight Turns to Role of Offshore Funds
Dec 30 (NYT) - Of particular interest is whether Mr. Madoff and some of his investors used funds based in offshore tax havens to evade American taxes, according to a person briefed on the investigation. Also under scrutiny is whether certain charities invested with Mr. Madoff had improperly allowed their donors to shift money offshore, and whether foreign banks had withheld American taxes on Madoff accounts

Madoff scandal could lead to tax losses nationwide
Dec 18 (AP) - Investors who lost their fortunes in Madoff's alleged Ponzi scheme will end up paying far less in taxes and may even be eligible for refunds, according to accounting experts. By some estimates, the Internal Revenue Service could be out as much as $17 billion in lost tax revenue.