Switzerland and Singapore agree to automatic exchange of bank data

GMT 17:33 2014 Tuesday ,06 May

Arab Today, arab today Switzerland and Singapore agree to automatic exchange of bank data

Arab Today

Switzerland and Singapore signed up Tuesday to automatically exchange bank data, a key initiative in a global effort to crack down on tax evasion, the OECD said. The two nations were among the signatories of a declaration to incorporate the standard for automatic data exchange into domestic law, which would reduce the banking secrecy that has made Switzerland attractive to some investors.

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