Switzerland Struggles With Bank Secrecy.

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  • Additional Information
    • Subject Terms:
      SWITZERLAND; UNITED States
    • Abstract:
      The article discusses taxation of the banking industry in Switzerland as of July 2013, with information on foreign wealth-management assets held in Swiss banks. Topics include economic relations between Switzerland and the U.S. regarding the use of Swiss banks as a tax haven for tax evasion by wealthy Americans; the potential prosecution of Swiss banks by U.S. financial regulators for noncooperation with tax evasion investigations; and a bill proposed in Switzerland to protect foreign clients.