Swiss Banks Under Pressure To Help Collect Foreign Taxes

Law360, New York (February 22, 2012, 7:43 PM EST) -- The Swiss government on Wednesday outlined a plan to force its secretive banks to do a better job ensuring that foreign clients pay taxes in their home countries, three weeks after the country's oldest bank was indicted for tax fraud in the U.S.

The draft plan, approved by Switzerland's Federal Council, would attempt to resolve any existing problems arising from out-of-country clients who have not been paying the appropriate taxes in their home country.

It also would set out guidelines — such as improved administrative assistance...
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