Switzerland Tax Evasion Cooperation

(AP Photo/Keystone, Peter Schneider, file) In this March 6, 2009 file photo, Swiss Federal President Hans-Rudolf Merz, head of the Federal Department of Finance, conducts a news conference in Bern, Switzerland.

Switzerland Tax Evasion Cooperation – The Swiss government said Friday, March 13, it would cooperate on cases of international tax evasion, breaking with a long-standing tradition of protecting wealthy foreigners accused of hiding billions of dollars in the Alpine nation.

The government insisted it would hold onto its cherished banking secrecy rules, but said other countries could now expect Swiss cooperation in cases where they provide compelling evidence of tax evasion. Read more

Tags: banking secrecy, international tax evasion, Swiss Banking, swiss banks, Switzerland, Switzerland Tax Evasion Cooperation, UBS