The Swiss government agreed on Wednesday to institute a legal basis that would allow national banks to settle directly with American regulatory authorities in tax-evasion cases. The lawsuits in question argue that billions of dollars from wealthy Americans are being hidden from the federal government for tax reasons. While the Swiss government
Swiss Banks To Settle With US Authorities Over Tax Evasion
While Swiss authorities maintain that no changes will affect protections to clients’ identity, certain client information will now be disclosed.