C Suisse to face tax evasion panel

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The chief of Credit Suisse will square off on Wednesday against U.S. Senator Carl Levin as the veteran congressional investigator releases his latest findings on offshore tax evasion.

Reuters reports that for more than six years, Levin's staff and U.S. officials have been probing how Americans dodged taxes by hiding assets in secret Swiss bank accounts, with cash-strapped governments worldwide tightening international tax law enforcement.

Levin is expected to release a report on Credit Suisse to coincide with the hearing at which bank CEO Brady Dougan and three other senior bank officers are slated to appear. The session will be co-chaired by Levin, a Democrat from Michigan, and Arizona Senator John McCain, the panel's top Republican.

'The hearing will continue the subcommittee's examination of tax haven bank facilitation of U.S. tax evasion, focusing on the status of efforts to hold Swiss banks and their U.S. clients accountable for unpaid taxes on billions of dollars in hidden assets', said Levin's Permanent Subcommittee on Investigations in a statement.

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Credit Suisse to face U.S. Senate panel on tax dodging

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