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  1. Wealth
March 7, 2012

WBrief: Switzerland rejects amendments to US tax treaty

By Spear's

Switzerland has rejected all proposed amendments that would have weakened the US tax treaty which the Swiss parliament voted in favour for last week

Switzerland has rejected all proposed amendments that would have weakened the US tax treaty which the Swiss parliament voted in favour for last week.

The treaty in which the Alpine state will be forced to provide data on clients suspected of tax evasion was embraced by the lower house of the Swiss parliament with a final 115-55 vote. The only time when it is lawful to give away client information under the present regime is in tax fraud cases.

The main proposed amendment, made by the right-wing Swiss People’s Party, revolved around the possibility of the US authorities demanding information on groups of people rather than individuals, according to a spokesperson for the Swiss parliament.

To read the full story, visit wealthbriefing.com

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