United states tax collector

In a blink of an eye, four days passed.

During this period, the UBS incident continued to unfold.

Among them, not only Swiss officials have successively shown strong protests.

And because the IRS's move to seize all domestic Swiss bank branches has seriously affected the interests of many people, some media and celebrities from other countries have also criticized the IRS's behavior.

But what puzzles many people is this.

Despite pressure from all walks of life, U.S. officials and the Internal Revenue Service remained indifferent and offered no explanation.

For a time, everyone felt a bit weird about the Swiss bank seizure.

Los Angeles Internal Revenue Service, in the Office of the Commissioner.

Nissen walked in with a thick pile of materials, placed them on the table, and said: "Director, as per your request, these are collected from customers who purchased CUUI and CUUO products. Oral Confession.”

David didn't say anything more, and took out a few volumes to check. After a few minutes, he nodded and said, "Have all the people I asked you to find been found and controlled?"

"Everything is under control. Everything is ready. All we need is the east wind!"

"Okay, get ready, we'll hold a press conference!"

"yes."

Not long after David made his decision, Donald's calls came one after another from the Washington DC.

"David, it's been four days, how's your work going?

Donald's tone was obviously a little urgent. Although he had explained the situation to the White House a few days ago, he had some support from the White House.

But in the past four days, due to the protests from people around the world, the IRS has been under a lot of pressure, and now it is almost breathless. This is why he is calling to urge now.

"Director Donald, I'm actually about to call you."

"Oh? You mean, you've almost finished your work?"

"Yes, I am going to hold a press conference here to officially ask Swiss Bank to take over!"

"That's good, I'll wait for your good news!"

Once he heard that David was ready, Donald quickly ended the call without asking any more questions.

…

Half an hour later, it was in the lobby on the first floor of the Municipal Bureau of Internal Revenue.

Not only the major media in the United States were notified and came to the scene, but the mainstream media from all over the world were also invited here.

At this time, they were all whispering to each other.

After so many days, the IRS has not given any explanation. They are also full of doubts and speculations, but fortunately, they are about to know the exact situation, which naturally makes them excited.

About five minutes later.

"Here we go, Director David is here!"

I don't know who shouted this at the scene, and then everyone turned to look.

Sure enough, in the passage, David strode out under the escort of Nissenbaki and others.

"Director David, may I ask, what is the current status of your seizure of Swiss banks?"

"Director David, due to the seizure incident, Swiss banks have suffered a lot of losses in the past few days. Will the IRS provide compensation?"

"Director David..."

As soon as they saw David's appearance, the media reporters who wanted to grab the first-hand news wanted to pounce on David directly and ask questions.

But fortunately, this is the Internal Revenue Service, and there are many auditors maintaining the order, so the order at the scene was not disrupted.

"Everyone be quiet, our director will explain the situation of this incident clearly!"

After hearing Nissen's scolding words, the media reporters did not dare to shout any more, and they all quieted down and listened.

"Ahem..."

David had already come to the stage, moistened his throat and continued: "Hello everyone, I am David. Because the seizure of Swiss banks has caused an uproar around the world in the past few days, I want to clarify a few points now."

"First of all, I want to make it clear that I am definitely not seeking revenge. Swiss banks have indeed committed major tax evasion violations in the United States. I will explain it to you in detail next."

After hearing these words, many people were instantly speechless, especially the Swiss who were watching and the senior executives of Swiss banks.

Damn it, you, Director David, were just about to threaten us to hand over the assets of the Sackler family, but if we didn’t follow your lead, you immediately came and sealed all our branches.

Is this still public revenge? What is private revenge?

Before these people could continue thinking, David continued: "After our investigation, we found that the two products CUUI and CUUO promoted by Swiss Bank in the United States were involved in serious tax evasion!"

"CUUI, CUUO? What is this?"

"This seems to be some kind of financial product from Swiss Bank. I heard my wife's classmates say before that the rate of return is higher than ordinary financial products!"

"Financial management products? How can financial management products involve tax evasion?"

Hearing the emergence of these two products, there was an instant heated discussion inside and outside the venue.

At the same time, UBS Group headquarters.

Jets, who was watching the live broadcast, immediately asked: "Can anyone tell me what kind of products these two products are?"

"Mr. Jets, these two products..."

After the specific person in charge told the story, Jets' brows instantly furrowed.

Although he is not responsible for the specific matters of these two products, judging from the explanation of the person in charge, these two products have much higher returns for ordinary people than ordinary financial products. This seems a bit unreasonable!

Putting away his thoughts, Jets asked again: "Why are the profits of these two products so high? Tell me the reasons in detail!"

"It's very simple, it's like this..."

"Are you saying that the reason why these two products have such high profits is because they do not need to pay taxes?"

After further understanding, Jie Zi's eyelids jumped.

What's the worst thing to do in America?

That’s tax evasion!

And now David and the IRS have made it clear that they are going to target their Swiss bank. If they really find out about such a major tax evasion, it will be over!

"Mr. Jets, strictly speaking, these two products are not tax evasion, nor do they violate American regulations..."

The person in charge added.

"How do you say this??"

"According to the express provisions of American tax law, this is legal tax avoidance!"

"Although it's legal, as long as you avoid taxes, it may be defined as tax evasion. That's what Director David is best at. He won't really be caught, right?"

"Mr. President, if it were so easy to get caught, these two products would not have been able to sell well in the United States for five years, because they were..."

After some explanations from the person in charge of the project, Jets relaxed a little.

It is indeed difficult to make profits through foreign stocks and decentralized purchasing behavior. These two products are indeed difficult to grasp.

If the IRS really wants to investigate, the client must at least investigate the information of dozens of organizations and find the specific persons in charge.

However, most of these institutions and people in charge are people from all walks of life who have passed through transnational borders, so it is not an exaggeration to say that they are looking for a needle in a haystack.

He didn't quite believe that David could find so many specific persons in charge and relevant information in such a short period of time!

Los Angeles IRS,

After the media at the scene learned about the two products CUUO and CUUI, David continued: "I believe that many people at the scene, as well as many viewers in front of the TV, have purchased these two products themselves or their friends. experience with this product.

"It is true that the return rate of these two products is higher than that of many bank financial products, but I can explain to you why this is so!"

"The first is CUUI. The operation method of this product mainly takes advantage of the tax differences between domestic investors and foreign investors. Foreign investors are more heavily taxed on dividends, but they can temporarily sell their stocks to relevant banks and evade relevant regulations. After paying taxes, you can repurchase it, and the savings will be shared among all parties, so the rate of return you get will be so high!”

"The second is CUUO. As a stock trading product, CUUO refers to the simultaneous sale and repurchase of stocks on the day when dividends are distributed. Because the transaction time is very short, the tax agency cannot determine who is the owner of the stock. Therefore, the purchase and sale Both parties can get a capital gains tax refund, which is why the return on this product is high! ”

After listening to these words, the media reporters at the scene instantly fell silent and entered a state of thinking.

Many of them had previously been left speechless by David's statement that he had no retaliation against Swiss banks.

But looking at it now, if these two products are really, as David said, because they evaded relevant taxes, which makes the return rate so high, then it will be different.

After all, in many cases before David, many people were sent to prison based on the profit-making regulations of the Black Tax Act.

And this profit-making regulation seems to be applicable if it is to be applied to the two current products of UBS.

"Wait a minute, Director David, if these two products are really involved in tax evasion, are people's funds still safe?"

Just as everyone was lost in their thoughts, the BBC reporter asked, and his question instantly caused an uproar inside and outside the stadium.

As I said before, because these two products have a relatively high return rate, many people in the United States have purchased them.

But if there is really a storm now because of tax issues, then their money will be wasted, right?

Thinking of this, these people no longer care about Swiss banks or tax evasion, and they all worry about the safety of their funds!

"Although there are problems with these two products, after all, they were issued by UBS. It is a UBS bank with a century-old history. Even if something goes wrong, I believe they can take responsibility!"

On the surface, David was comforting the people, but in fact he was sarcastic about the Swiss bank.

However, after listening to his words, the reporters at the scene and the people online felt much more relieved.

It is true that even if there are problems with these two major products, UBS is a time-honored brand and a leader in the banking industry, so it should still shoulder its responsibility.

UBS Group Headquarters.

After hearing David's insinuation, Jets and other senior executives didn't look very good.

David was able to investigate the profit models of these two products so clearly, so he must have mastered some core information.

In addition, the insinuation behind it seemed to have some meaningful flavor, which gave them a very bad feeling.

"Amarin, he may be launching a lawsuit against our two products. Your department must come up with a response plan immediately."

Jets looked at the head of the group's legal department.

"Yes, Mr. Jets!"

…

Los Angeles IRS.

"Okay, as for the suspected tax evasion of these two major products, I can only say that it is secondary. Next, I will explain to you the real purpose of Swiss Bank using these two major products!"

David's words aroused the appetite of countless people inside and outside the stadium.

What is the real purpose of Ruishi Bank in using these two products?

Isn't this just to attract customers to deposit investment? What other purpose could it serve?

"I believe many people have guessed that UBS launched these two products just to attract people to deposit and invest. This is indeed a fact!"

“According to our survey, the current amount of investment in these two major products across the country has reached 50 billion US dollars!”

"UBS relied on this asset to earn returns of more than 40 billion U.S. dollars by investing in various other industries. And do you know where these funds ended up going?"

"That's right, it all flowed across the border back to the headquarters of Swiss Bank!"

"If it continues like this, what will be the consequences?"

"It will cause the loss of state-owned assets!"

"And if there is any turmoil in the future that causes these two products to really explode, Swiss banks only need to make arrangements in advance and transfer funds back to the country. Who will suffer losses then?"

What David said was very obvious.

That is telling people in the United States who have purchased this product that our IRS is now seizing Swiss banks, which is restricting their funds from leaving the country.

So even if there is a thunderstorm now, there will still be enough money to compensate you.

If our IRS does not impose restrictions, when there is a real thunderstorm in the future, then the Swiss bank will just slap its butt and leave, and you will have no place to cry!

The media reporters present are not fools.

And the people on the Internet are not fools either.

Of course they heard the meaning of David's words, and also realized how great their losses would be if a thunderstorm occurred as David said.

So at this time, many people on the Internet became filled with indignation.

"Fake, it turns out that we misunderstood Director David. It seems that sealing this Swiss bank is for our own good!"

"Since these two products allow us to obtain higher returns through tax evasion, they will cause problems sooner or later, and they actually cause our assets to be lost overseas. They should be controlled!"

"I misunderstood Director David. Now it seems that it is necessary to seize the Swiss bank. At least the funds we used to purchase these two major products will not be lost due to thunderstorms!"

"..."

Regarding the reversal of online public opinion.

At this time, David also guessed something. He continued: "We are now officially charging the Swiss Bank with suspected tax evasion and irregularities on these two products. I hope that the Swiss Bank can send a representative to us as soon as possible to make a decision." excuse!"

Swiss Bank Headquarters.

"Fuck, you damn bastard!"

"How can David say that our two major products have caused the loss of their state-owned assets? This is simply exaggerating and slandering!"

"Slandering us resulted in the loss of their assets. What a cruel way to retaliate!"

The top executives of UBS Group were about to explode with anger.

Because David’s words are so instructive,

Not only did they explain the profit models of their two major products, but they also deducted the possibility of thunderstorms and the loss of state-owned assets. Those who bought their products were in panic, and their Swiss bank would not suffer. It's weird to accuse.

But being blamed is not the most important thing.

The most important thing is that after this incident, as long as their Swiss banks reopen for business, these customers who have invested in these products will definitely come to the bank to withdraw their principal as soon as possible.

Although the total amount of these principals is only tens of billions of dollars, it is not something they cannot afford based on the background of their Swiss bank.

But what do banks fear most?

What I fear most is a run!

Once these people come to withdraw the principal of these two major products, a series of chain reactions will inevitably occur, causing their Swiss bank to suffer a large-scale run.

UBS is a big business.

But if it really triggers a nationwide frenzy of bankruptcies, even if they don't go bankrupt, they will at least have to shed a layer of skin, which is not a serious matter.

"Adrian, how much is the current total investor capital of these two products?"

Unlike other people who are angrily cursing, Jets, as the helmsman of UBS Group, has no time to dwell on this. The top priority is to come up with a plan to deal with this crisis.

"Mr. Jets, as David said, it's about 50 billion US dollars."

"Inject 50 billion US dollars from the group to major branches in the United States!"

"No, Mr. Jets, the IRS is sealing our bank now. If we inject funds into it at this time, wouldn't it be like a sheep entering a tiger's mouth?"

Adrian quickly admonished.

"The purpose of capital injection is to maintain market confidence and give American customers a sense of security, so that it will not cause a run, do you understand?"

The IRS and David are not robbers. They have the right to freeze any funds in the country, but they do not have the power to rob.

Although principal deposits were subject to freeze review in the past, it gave market customers a sense of security. As long as the conflict with the IRS was resolved afterwards, the fundamentals of UBS's business in the United States could be stabilized.

Therefore, this 50 billion US dollars is absolutely worth and must be invested!

"Yes, Mr. Jets..."

Adrian didn't dare to say anything more, so he could only agree.