Swiss Parliamentary Panel Balks At US Tax Cheat Bill

Law360, New York (June 11, 2013, 8:18 PM EDT) -- A Swiss parliamentary committee on Tuesday recommended that fellow lawmakers reject a bill that would allow Swiss banks to turn over account information sought by U.S. authorities seeking to root out tax evaders.

In a closely divided decision, the economic committee of Switzerland's upper house voted 7-6 against the legislation, casting doubt on the bill's future. Both houses of parliament are expected to vote on the bill sometime in the coming week.

The bill would allow Swiss banks to provide account information to the U.S. Department...
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