AnCaps
ANARCHO-CAPITALISTS
Bitch-Slapping Statists For Fun & Profit Based On The Non-Aggression Principle
 
HomePortalGalleryRegisterLog in

 

 OZschwitz slave pen: Thieving taxman wants to name and shame

View previous topic View next topic Go down 
AuthorMessage
RR Phantom

RR Phantom

Location : Wasted Space
Job/hobbies : Cayman Islands Actuary

OZschwitz slave pen: Thieving taxman wants to name and shame Vide
PostSubject: OZschwitz slave pen: Thieving taxman wants to name and shame   OZschwitz slave pen: Thieving taxman wants to name and shame Icon_minitimeMon Oct 06, 2008 6:55 pm

THE Federal Government would consider disclosing the identity of people who settle large tax disputes for less than the original demand, the Assistant Treasurer, Chris Bowen, said yesterday.

"I can see the attraction of naming and shaming," Mr Bowen told a Four Corners program on ABC1 that referred to a $50 million tax dispute that the billionaire Sydney businessman Frank Lowy settled for $25 million in 1995.

But Mr Bowen said he would only act if asked to do so by the Taxation Commissioner, Michael D'Ascenzo.

For the past 25 years, commissioners "have felt that you need to provide incentives to people to settle and that you do need to protect privacy where sometimes the publication will be many years after the actual settlement", Mr Bowen said.

Debate about Mr Lowy's settlement, which The Sun-Herald revealed at the time, was revived in July when a United States Senate committee published documents from LGT Bank in Liechtenstein that named Mr Lowy as a client from 1996 to 2001.

In new comments to Four Corners, Mr Lowy said: "the Liechtenstein structure provided flexibility if the need had arisen for attracting investors from different countries". He also repeated his July denial that he had hidden assets or income from the Australian Taxation Office.

A former LGT employee now in witness protection, Heinrich Kieber, stole data relating to 1400 clients that he sold to German authorities, who passed it to other countries.

The Tax Office is auditing 20 LGT clients, of whom only Mr Lowy has been identified.

A file noted published by the US committee said Mr Lowy told the bank "special caution" was to be used "since he doesn't believe the Australian tax authorities that the case with the payment of the 25 M is settled for good".

Mr Lowy told Four Corners he had urged caution because a Tax Office official "might bear a grudge and wait for an opportunity to reopen the settlement". He said he sought "a greater attention to legal documentation should it be needed in any future court case".

LNK
Back to top Go down
 

OZschwitz slave pen: Thieving taxman wants to name and shame

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
 :: Anarcho-Capitalist Categorical Imperatives :: AnCaps' Laissez-faire Free Trade Zone-