BREAKING NEWS: Swiss agree to share tax information with U.S.

WASHINGTON (MarketWatch) — The Swiss government has agreed to share tax information with U.S. tax authorities as part of the American effort to shut down offshore tax evasion, the Treasury Department announced Friday. “This treaty will increase our ability to enforce our tax laws and will help bring an end to an era of offshore accounts and investments being used for tax evasion,” said U.S. Treasury Secretary Timothy Geithner. The Swiss had asked the U.S. Justice Department to drop a multi-billion-dollar tax-evasion case against Swiss banking giant UBS in exchange for agreeing to the information-sharing deal.

http://www.marketwatch.com/story/swiss-agree-to-share-tax-information-with-us

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