Tax Shelters: Why Israel Could Be the Next SwitzerlandBy: Eamon JaversCNBC Jun. 22, 2012 |
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It looks like Israel is going to be the next Switzerland — at least as far as the Department of Justice’s investigation into offshore tax avoidance is concerned. On June 14, the Department of Justice unsealed an indictment against three American tax preparers for helping clients avoid taxes by moving money to Israel. The transgressions detailed in the indictment were relatively small-time. The indictment said the father and son duo of David and Nadav Kalai and their colleague David Almog at a firm called United Revenue Service helped several clients duck taxes by moving money to two Israeli banks, identified only as “Bank A” and “Bank B.” Read More |