US Senate panel cites FATCA ‘loopholes,’ Swiss barriers to US tax enforcement

US Senate panel cites FATCA ‘loopholes,’ Swiss barriers to US tax enforcement

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Date: March 5, 2014
By: Brian Kindle

At a hearing by the US Senate Permanent Subcommittee on Investigations last week, frustrated Senators skewered executives of financial giant Credit Suisse for facilitating US tax evaders, and scolded top prosecutors from the US Justice Department for lax enforcement of Swiss institutions. Yet the most frequent targets of the Senators’ ire were not even present in the room.