May 6 (Bloomberg) -- Germany’s upper house will ratify a tax treaty with Switzerland, UBS AG Chairman Axel Weber told Swiss newspaper NZZ am Sonntag in an interview published today.
Germany and Switzerland last month signed an amended tax treaty including a withholding tax to end a decades-long dispute over tax evasion. The accord still needs approval by Germany’s upper house, where Social Democrats and Greens have voiced opposition.
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