EU, Switzerland sign major accord on tax transparency

GMT 10:54 2015 Wednesday ,27 May

Arab Today, arab today EU, Switzerland sign major accord on tax transparency

EU Commissioner Pierre Moscovici
Brussels - Arab Today

The European Union and Switzerland signed a major accord Wednesday that will end banking secrecy for EU residents and prevent them from hiding undeclared income in Swiss banks, the European Commission said.

The agreement deals "another blow against tax evaders, and (represents) another leap towards fairer taxation in Europe," said Pierre Moscovici, the EU commissioner for tax issues.

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