Financial firms helped offshore funds, foreign investors avoid taxes, says U.S. Senate
Fri Sep 12, 2008
A number of investment banks and brokerage firms knowingly
helped foreign investors, including offshore hedge funds, avoid
taxes on U.S stock dividends, a Senate subcommittee said this
week. The allegedly fraudulent transactions helped these
foreign investors avoid billions of dollars of taxes, according
to a report released late Wednesday night by the Senate's
Permanent Subcommittee on Investigations.
The report says that the subcommittee reviewed
ISSN: 2151-1845 / CDC10004H
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