Swiss, Germany to Sign Tax Deal August 10, SonntagsZeitung Says
The accord, which settles a dispute over tax evasion by wealthy German clients, will have to be approved later by Swiss parliament, the Zurich-based newspaper said, citing people familiar with the situation. The upfront payment will be refunded to Swiss banks if Germany’s tax authorities receive at least 4 billion francs through the agreement, the report said.
A separate treaty with the U.K., which foresees an upfront payment of 500 million francs by Switzerland’s banks, will be signed later, SonntagsZeitung said.
To contact the reporter on this story: Klaus Wille in Zurich at firstname.lastname@example.org
To contact the editor responsible for this story: Craig Stirling at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.