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Taxation of savings deal

Series: RICS Brussels Briefing ; 31 May 2004 (1)Publication details: 2004Subject(s): Summary: EU and Swiss leaders have endorsed a long-awaited deal on offshore tax fraud that will in return see Switzerland going into the EU's passport-free Schengenzone. The agreement to tax secret bank accounts held in Switzerland by EU residents will be signed in August 2004. The Swiss government has also agreed to cooperate more with the EU in fighting customs fraud and money laundering.

EU and Swiss leaders have endorsed a long-awaited deal on offshore tax fraud that will in return see Switzerland going into the EU's passport-free Schengenzone. The agreement to tax secret bank accounts held in Switzerland by EU residents will be signed in August 2004. The Swiss government has also agreed to cooperate more with the EU in fighting customs fraud and money laundering.