[ad_1]
The US Department of Justice confiscated the New Private Bank – as announced finews.ch last week. The Zurich Institute is doing relatively well
Bills of $ 5 million and the suspension of criminal proceedings: This puts an end to the US tax case against New Zurich Private Bank (NPB), in category 1. What finews.ch reported exclusively last week is now confirmed in a statement by the United States Department of Justice. With the end of the criminal case, the NBP agreed to cooperate in the event of further criminal investigations or civil actions.
The $ 5 million fine is a relatively small infraction of the NPB. After the year 2009, this increased number of US customers, especially those from UBS. BP has done so primarily through relationships with independent managers who have allowed US customers to open accounts with the NPB.
$ 400 million in client money
The NBP generally only offered babysitting services and partly other banking services. In total, the NPB is busy with 353 US clients and $ 400 million of client funds up to 2015.
Subsequently, the NPP made mistakes: it initially accepted additional US customers, although she has reason to believe. had that it was tax evasion. The BNP believed that these customers would still be legal under the terms of the qualified intermediary agreement if they did not hold US badets in their portfolios. The NBP came to this conclusion, without securing itself.
Principle of Hope
Since 2010, the NBP has no more US clients with untaxed funds. At the same time, he began working on tax regularization of funds from existing US clients.
Apparently, the leaders of the NPB followed the principle of hope. Because she has not established any guidelines to entice her clients to pay taxes on their money in the United States. However, he subsequently stopped clients who continued to pay untaxed funds.
The United States opened a criminal investigation against the NBP in 2013. The institute cooperated – the buses are affordable for the well-capitalized institute.
Source link
