Daniel Reeves retired from the U.S. Internal Revenue Service in 2012 after 35 years of service. As Senior Advisor on offshore matters, he guided the development of IRS’s Offshore Compliance Initiatives program and led high profile tax investigations into the cross border banking practices of UBS AG of Switzerland, HSBC India and the Stanford Financial Group. Those investigations, together with actions by the U.S. Department of Justice, led to more than 33,000 persons declaring hidden offshore accounts and the recovery of more than five billion U.S. dollars in back taxes and penalties.
- Who are the major players in the offshore world that promote, facilitate and enable offshore tax havens and the financial secrecy they provide?
- What are the respective roles of banks, attorneys, accountants and other professionals in facilitating offshore tax havens?
- What can governments do to identify them and raise the risk matrix for those who would use offshore arrangements for tax evasion purposes?