German tax authorities have raided Credit Suisse clients and French officials have searched the homes of UBS staff, deepening the crackdown on foreigners hiding money in Swiss offshore accounts to dodge taxes. Some 5 000 German clients of Credit Suisse were being probed on suspicion of tax evasion and some had their homes searched, a bank source said yesterday. UBS offices in Lyon, Bordeaux and Strasbourg were raided on Tuesday on suspicion of aiding tax evasion, a bank source said. The homes of several high-ranking UBS staff in Strasbourg were also searched.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.