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  1. Wealth
March 29, 2010

SwissInfo: Switz, Ger agree double-tax treaty

By Spear's

Switzerland and Germany have reached agreement in principle on a new double-taxation accord.

Switzerland and Germany have reached agreement in principle on a new double-taxation accord.

Swiss finance minister Hans-Rudolf Merz and his German counterpart, Wolfgang Schäuble, initialled an accord in Berlin on Friday that is set to help Germany in its campaign against tax cheaters.

The deal will clarify tax disclosure rules for Switzerland’s multi-trillion-dollar wealth management industry.

The Swiss finance ministry said details of the agreement would not be disclosed before it was signed.

However, it said the “key element” of the revised agreement was the “extension of administrative assistance in tax matters in accordance with the Organisation for Economic Cooperation and Development (OECD) standard”.

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