The Wall Street Journal Quotes Scott Michel: Tax Havens Shift as Luxembourg Loosens Bank Secrecy

Scott D. Michel is quoted by The Wall Street Journal regarding tax haven shifts due to pressure from the U.S. and other countries seeking greater banking transparency. For more on the story, please visit The Wall Street Journal's website.

Excerpt taken from the article.

Asia is next for enforcement efforts. Latin America may be lagging behind Europe but the tax police will catch up there, according to Scott Michel, a tax-compliance expert and a partner in the Washington, D.C., office of law firm Caplin & Drysdale.

"There may be some rogue countries in Latin America that will ignore it, but would you want to give your money to a bank in a country run by Hugo Chavez's successor?" said Michel.