President Joe Biden, in his first US Joint Session of Congress speech on 28 April, called out companies benefitting from tax havens ranging from “Switzerland to Bermuda.
Officials in Switzerland push back at Biden tax haven barb
JAMEY KEATEN, Associated Press
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GENEVA (AP) Swiss authorities took issue Friday with U.S. President Joe Biden s comment that many companies use Switzerland and two British territories as tax havens, with the Swiss Federal Department of Finance calling such claims “inappropriate and completely out of date.”
Arguing that rich Americans and corporations need to pay their fair share of taxes, Biden said in a speech to Congress on Wednesday that “a lot of companies also evade taxes through tax havens in Switzerland and Bermuda and the Cayman Islands.”
Switzerland long had a reputation as a haven for tax dodgers to squirrel away their money to avoid fiscal authorities abroad. But Swiss authorities have been at pains to try to change the country’s image.
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