The lower house of Switzerland's parliament has refused to debate a bill that would allow Swiss banks to pass client information to the US tax authorities.
The bill is the result of pressure from the US following revelations that Swiss banks had helped American account holders to evade taxes.
The US had demanded action by 1 July, but the Swiss parliament summer session ends this week.
The bill will now return to the Senate.
(...)
Swiss politicians are in no mood to change their laws because Washington tells them to, reports the BBC's Imogen Foulkes from Berne.
The Senate very reluctantly approved the bill last week, after it became clear the US would indict Swiss banks, and possibly even cut them off from the dollar market if it did not go through.
A long tradition of banking secrecy is becoming a political crisis for Switzerland, adds our correspondent. Switzerland has also come under pressure from the EU over the issue. Full story...
Related posts:
The bill is the result of pressure from the US following revelations that Swiss banks had helped American account holders to evade taxes.
The US had demanded action by 1 July, but the Swiss parliament summer session ends this week.
The bill will now return to the Senate.
(...)
Swiss politicians are in no mood to change their laws because Washington tells them to, reports the BBC's Imogen Foulkes from Berne.
The Senate very reluctantly approved the bill last week, after it became clear the US would indict Swiss banks, and possibly even cut them off from the dollar market if it did not go through.
A long tradition of banking secrecy is becoming a political crisis for Switzerland, adds our correspondent. Switzerland has also come under pressure from the EU over the issue. Full story...
Related posts:
- Swiss lawyers blast secretive US bank deal...
- Swiss banks face huge US tax fines...
- Switzerland awash with money laundering cases...
- Swiss govt not happy with "Romney Girl" tax haven video...
- US may target Swiss bankers travelling in Europe...
- Swiss banks come up with new safe haven...
- More and more Swiss-Americans ditch US passports...
No comments:
Post a Comment