Prosecutors contend that UBS deliberately abused the program by selling American clients offshore banking services that went undeclared to the I.R.S. and allowed those clients to evade taxes.
And how many times have I realised mid-flight that actually I have a tube of toothpaste at the bottom of the bag, or a screwdriver, craft knife that went undeclared and undetected?'Having spent years adding to the security theatre, governments are finally starting to question the approach.
Last year an estimated 24% of all economic activity in Greece went undeclared to evade tax and regulation, well above the European average of 19%.The IMF, which was in Athens this week to check up on Greece's public accounts, would like to bring more of this activity into the sunlight, to boost government revenues.
The Daily Telegraph splashed this morning on a report that Mr Fox and Mr Werrity had both attended the same "$500-a-head dinner" in Washington with American-based defence lobbyists and senior military officials, under the headline "Fox, his friend and $500 bash that went undeclared".This was not really a British-style scandal, however.
The investigation into HSBC and Credit Suisse began about September and is focusing on whether the two banks helped wealthy American clients hide up to $30 billion in offshore accounts that went undeclared to the Internal Revenue Service, the people briefed on the matter said.
UBS, the world's largest private bank and a major engine of the Swiss economy, agreed last week to pay $780 million to United States authorities to settle accusations that it helped wealthy Americans illegally evade taxes through secret offshore bank accounts, known as "black accounts," that went undeclared to the Internal Revenue Service.
Henderson sold forged burial deeds for cash-in-hand which then went undeclared to his employers.
A second factory in the town, Alexander Buchan, which has since closed, fitted a secret scale and conveyor belt, which allowed up to 70% of a boat's catch to go undeclared.
It may also reflect an ascertainment bias: Western societies have instituted widespread screening programs detecting small low-grade tumors that may go undeclared in developing societies [ 23].
These two visions clash today in the fields and mining towns of the Donbas, where, obscured by crises in other parts of the world, the undeclared war goes on, with more than 10,000 people dead on both sides to date.
