Germany Expects $14 Billion From Swiss Tax Deal, Spiegel Says
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Germany’s Finance Ministry expects to receive about 10 billion euros ($14.2 billion) from the Swiss government as part of an agreement on tax evasion, Der Spiegel reported, citing unnamed ministry officials.
Switzerland will deduct 20 percent to 30 percent of funds derived from unreported income, the ministry estimated, according to the report. After the deduction, the unreported income will be legalized, and the names of tax evaders won’t be published by Swiss authorities, the magazine said.