Monday, February 25, 2008

The Germans are on a Tax Blitzkrieg

Looks like they just invaded Lichtenstein!
A German spy agency has paid a secret informant some $7.3 million for a CD containing incriminating data on rich Germans who transferred billions to nearby Lichtenstein to avoid taxes. It's the biggest blow against tax fraud in Germany, and the first that has the country's intelligence agency involved.

Lichtenstein, a landlocked alpine principality with just 35,000 citizens, has made a name for itself as a discreet tax haven. Bordered by Switzerland to its west and by Austria to its east, Lichtenstein is one of the few countries in the world with more registered companies than citizens and has, like Switzerland, laws that protect bank customers from outside governments.

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