The cash, often in bundles of 500-euro notes, is moving with political currents as some Europeans seek to hide their wealth from rising taxes, high-profile tax investigations and tightening rules at Swiss banks and other traditional havens.
The "influx" of requests followed publication on June 21 of a circular, drafted by French Budget Minister Bernard Cazeneuve, detailing the exact conditions governing the treatment of voluntary declarations submitted by French taxpayers with unta
"We will be signing this afternoon a tax information sharing agreement with the Cayman Islands, the first ever with an overseas territory," Osborne told parliament.
The sanctions include a higher withholding tax on payments to, and transfer-pricing scrutiny on transactions with, Cyprus-based entities.
Under the pressure of the economic crisis and political corruption, many people are especially claiming that tax evasion in Greece, is something of a “national sport.”