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No company will sink capital into a country with a reputation for stealing its citizens' assets.
Few such places have reliable records of their citizens' assets or earnings, and without such information, attempts to pick out the neediest from the masses will inevitably be inexact.
January 27 , 20141.51pm GMT Bundesbank: A wealth tax could make sense Photograph: Alamy Germany's Bundesbank has weighed in on the issue of a wealth tax, suggesting it could make sense for a country facing bankruptcy to tap its own citizens' assets before seeking help from abroad.
The governments manage their finances and expenditures by imposing value to its citizens' assets and businesses through taxation.
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The furore over surveillance has been sparked by Edward Snowden, she said, who has done damage "to this country's capability to protect our citizens and assets".
The annual wealth list compiled by the Hurun Report, a monthly magazine, notes that the province is home to more than 25,500 millionaires and 1,800 what it calls "super-rich" citizens, with assets of more than $16 million.
The European tax commissioner, Algirdas Semeta, has said that tax evasion costs European nations about 1 trillion euros, or $1.3 trillion, in lost revenue each year, and cash-poor governments are eager to track down their citizens' hidden assets.
After Rotenberg's properties in Italy were taken, Russia's parliament considered what came to be known as "the Rotenberg law," which proposed that the state compensate Russian citizens for assets seized by foreign governments.
Mr. Creel said Mexico felt "compelled to collaborate with the United States to identify any potential risk" at the border "both against American citizens or assets or here in our own country".
Another problem: With the Europeans' crackdown on tax havens and the U.S. government's ongoing attack on UBS' role in helping U.S. citizens hide assets offshore, private bankers are no longer able to promise absolute bank secrecy.
"Credit Suisse conspired to help U.S. citizens hide assets in offshore accounts in order to evade paying taxes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com