TG-177: United States, Switzerland Agree to Increased Tax Information Exchange.
Now send the UBS names.
And let's see banking secrecy shattered for good.
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Unfortunately, this is just more stalling. The Swiss have said individual tax details would only be exchanged with the US “in individual cases where a specific and justified request has been made”.
To paraphrase:
You give us detailed information on a US citizen who has broken US tax law and we will send you the information you already have.
So the Swiss have generously decided not to keep secret ONLY what is no longer secret.
Sebastian
That’s the nub of information exchange at present, in an nutshell
That’s why I want to explore ‘low hinging’ alternatives
See http://www.taxresearch.org.uk/Blog/2009/06/19/what-sort-of-automatic-information-exchange-do-we-need/
Richard