UBS, BNP Warned of France’s Zero Tolerance on Tax Evasion
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UBS AG, BNP Paribas SA, Credit Suisse Group AG and other banks providing wealthy French people a home for their money in Switzerland are being told: No more tax evasion.
Ahead of French Finance Minister Michel Sapin’s visit today to the Swiss capital Bern, he briefed bankers on an updated set of guidelines for a tougher Franco-Swiss tax accord. Switzerland will intensify cooperation with France and release more names and bank accounts details to French tax authorities.