Switzerland, U.S. sign pact on fighting tax evasion

[The Patriot]

Switzerland, U.S. sign pact on fighting tax evasion

02-14-2013 06:06 PM

WASHINGTON (Reuters) - Advancing a U.S. crackdown on tax evasion by Americans, the U.S. Treasury Department said on Thursday that Switzerland and the United States have signed a pact to make Swiss banks disclose information about U.S. account-holders. The agreement is the latest in a series between the United States and other countries designed to carry out the Foreign Account Tax Compliance Act, or FATCA, enacted in 2010. The Swiss deal is the first of its kind and differs in key ways from previous pacts. It requires Swiss banks to sign up directly with the U.S. ...

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