“Under European Union and U.S. pressure to help fight tax evasion, Swiss political support for bank secrecy has gradually waned, paving the way for tax deals with foreign authorities. The Paris-based OECD’s Multilateral Convention is a wide-reaching agreement to exchange information about taxpayers between authorities either on request or spontaneously. Despite Switzerland’s new-found willingness to cooperate with foreign tax authorities, Berne stopped short of committing to the automatic exchange of tax records. Switzerland still has to ratify its adhesion to the convention which could take as long as a year-and-a-half and which could get bogged down if it is put to a referendum.”
http://in.reuters.com/article/2013/10/15/us-oecd-switzerland-idINBRE99E0MV20131015
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