Thursday, April 18, 2013

Update on U.S. Swiss Negotiations for a Global Settlement (4/18/13)

Reuters reports developments on this front.  Katharina Bart and Kim Dixon, Deal on the table in U.S.-Swiss tax dodger dispute (Reuters 4/17/13), here.  Excerpts:
The Swiss and U.S. governments were considering on Wednesday a possible solution to end their dispute over Swiss banks accused of helping wealthy Americans evade billions of dollars in taxes. 
[A] source familiar with the long-running and complex talks has told Reuters that the two countries have agreed on an outline for a deal. 
To determine how they should be dealt with, the source said, more than 300 Swiss banks would be divided into groups based on the extent to which they had helped U.S. clients hide money.
The article also discusses the indictment of a Bank Frey executive, Stefan Buck, and a Swiss lawyer, Edgar Paltzer, yesterday.  I will devote a separate blog to that indictment, but I do not here that the diplomatic negotiations and the indictment are probably related.

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