Disir
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- Sep 30, 2011
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Uncle Sam” has ramped up collection efforts on US taxpayers, including US citizens, Belizeans with dual nationality and green card holders who are believed to be hiding their wealth in offshore jurisdictions in Belize, which has not only been dubbed as a “tax haven” – but has also been listed as one of the major money laundering jurisdictions by the United States Government.
Miami federal judge Ursula Ungaro—who 10 years ago had presided over litigation in the telecommunications saga of Jeffrey Prosser against the Government of Belize—granted a petition this Wednesday, September 16, to the Internal Revenue Service (IRS), the United States government agency responsible for tax law enforcement, which will allow the IRS to issue two “John Doe” summonses to Bank of America and Citibank, both of Miami, Florida, in order to probe into offshore accounts held by thousands of Americans who may have stashed their wealth in The Jewel.
Offshore accounts in Belize should only be held by non-residents – not by persons living in Belize.
The IRS summonses are engineered to probe into financial transactions facilitated over the last 8 years (December 31, 2006 to December 31, 2014) by Belize’s largest commercial bank, the Belize Bank, and its offshore counterpart – Belize Bank International, both subsidiaries of BCB Holdings, which had their correspondent banking relations with Bank of America severed at the end of April 2015, purportedly after the US bank cited “a business model mismatch.”
The summonses also extend to a third related Belizean company, Belize Corporate Services (BCS) Limited.
IRS probes Belize offshore accounts!
How unfortunate.
Miami federal judge Ursula Ungaro—who 10 years ago had presided over litigation in the telecommunications saga of Jeffrey Prosser against the Government of Belize—granted a petition this Wednesday, September 16, to the Internal Revenue Service (IRS), the United States government agency responsible for tax law enforcement, which will allow the IRS to issue two “John Doe” summonses to Bank of America and Citibank, both of Miami, Florida, in order to probe into offshore accounts held by thousands of Americans who may have stashed their wealth in The Jewel.
Offshore accounts in Belize should only be held by non-residents – not by persons living in Belize.
The IRS summonses are engineered to probe into financial transactions facilitated over the last 8 years (December 31, 2006 to December 31, 2014) by Belize’s largest commercial bank, the Belize Bank, and its offshore counterpart – Belize Bank International, both subsidiaries of BCB Holdings, which had their correspondent banking relations with Bank of America severed at the end of April 2015, purportedly after the US bank cited “a business model mismatch.”
The summonses also extend to a third related Belizean company, Belize Corporate Services (BCS) Limited.
IRS probes Belize offshore accounts!
How unfortunate.