View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
June 22, 2009

NYT: US and Switzerland agree tax treaty

By Spear's

WASHINGTON (AP) The United States and Switzerland have agreed to increase the amount of tax information they share to help crack down on tax evasion.

WASHINGTON (AP) — The United States and Switzerland have agreed to increase the amount of tax information they share to help crack down on tax evasion.

TheTreasury Department said Fridaythat the two nations had concluded negotiations on an amended tax treaty. The discussions took place as American legal authorities were conducting investigations into accusations that the giant Swiss bank UBS helped thousands of American customers evade taxes.

The Treasury secretary, Timothy F. Geithner, said the Obama administration was committed to reducing offshore tax evasion.

“This treaty will increase our ability to enforce our tax law and will help bring an end to an era of offshore accounts and investments being used for tax evasion,” Mr. Geithner said in a statement.

The protocol, which the two countries are expected to sign in the next few months, would revise the existing treaty to allow for a greater exchange of information as permitted by a model income tax convention adopted by the Paris-based Organization for Economic Cooperation and Development.

To read the full story, visit nytimes.com

Content from our partners
Finding a purpose for family wealth during uncertainty 
Porto Montenegro: Adriatic Elegance Tailored to You
Family office gold rush in Hong Kong

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network