Some fear Treasury could loses billions of its own if Government clamps down hard on Russians who bury their wealth in British Overseas Territories.
“Teachers can only deduct up to $250 for school supplies on their taxes, but billionaires can write off entire cost of a private jet.” - M. D’Arrigo
Russia facing several economic sanctions for invasion of Ukraine. UK sanctions depend on action in low-tax jurisdictions to restrict Russian capital.
UBS has been fighting a seven-year battle with French authorities who allege the bank illegally laundered funds.
Tax on America’s Wealthiest Households Could Erase Half of Country’s Out-of-Pocket Health Costs, Report Finds
Half of Americans delay or skip medical care because of growing costs.