German tax authorities recovered 1.6 billion Euros this year from citizens who had stashed their cash in secret accounts in Liechtenstein and Switzerland, according to the weekly Der Spiegel.
The Uruguayan government announced intention of making banking secret accounts “more flexible” and expanding income tax to overseas holdings and assets have delayed investment decisions and accelerated the sale of real estate in Uruguay by foreigners, particularly Argentines, warned the Uruguayan Chamber of Tourism.