| Series Title | Swissinfo.ch |
|---|---|
| Series Details | 29.05.13 |
| Publication Date | 29/05/2013 |
| Content Type | News |
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Swiss banks will be allowed to pass on more confidential information to the United States authorities to clear up the ongoing tax evasion row between the two countries, the Swiss government announced on the 29 May 2013 as it launched a bill. However, the FT reported on the 30 May 2013 that the government faced an uphill battle to push through the plans after a number of political parties roundly criticised or threatened to reject the bill. Switzerland’s parliament was due to vote on the measure in June 2013, but there was little indication that the proposed legislation commanded a majority. On the 18 June 2013 news sources reported that the lower house of the Swiss parliament (House of Representatives) voted not to debate the bill. Swiss politicians were said to be in no mood to change their laws because the US told them to and were concerned about Swiss sovereignty. A supported of the deal said that a rejection of the deal was undermining the stability of the Swiss banking centre and putting jobs at risk. Later, on the 27 February 2014, the boss of Swiss bank Credit Suisse said he "deeply" regretted that some of its bankers violated US tax laws. |
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| Source Link | http://www.swissinfo.ch/eng/business/Swiss_announce_US_deal_to_end_tax_evasion_saga.html?cid=35976562 |
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| Countries / Regions | Switzerland, United States |
