Swiss cabinet in move to inform US bank clients
Zurich, November 16, 2011
The Swiss cabinet approved on Wednesday an amendment to a tax agreement with the US to ensure that bank clients are properly informed about requests by US authorities for data on suspected tax dodgers.
"The amendment should ensure that the procedural rights of affected persons domiciled in the US remain guaranteed," the government said in a statement.
The move comes as Switzerland is under pressure to hand over data on US clients as it tries to end a long-simmering dispute over Swiss banks suspected of helping US citizens to dodge taxes by using secret accounts. - Reuters