Switzerland A Tax Haven No More?

Bloomberg is reporting that Switzerland's yet to be signed tax treaty with Germany may end secret banking and tax evasion in Europe as we know it, prompting mass withdrawals as Swiss banks will no longer guarantee client confidentiality. It appears that the treaty will allow investigators to request Swiss assistance in tracking down undeclared money deposited by German nationals. “The agreement that will come into force will go very much further on the information that can be exchanged between officials,” said Eric Jucker, a Zurich-based tax lawyer. “Banking secrecy will come to an end outside of Switzerland” as the country adopts international tax standards, he added. To read the full article, please

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