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Old 05.12.2012, 22:23
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switzerland-us-sign-pact-against-tax-evasion

http://www.foxbusiness.com/news/2012...t-tax-evasion/

I am sure most of you know about FACTA, alot of the same things now applies to european citizens too

I think many account holders CLOSED their swiss accounts and moved their money out of Switzerland and thought now they are safe, I wonder if they did that for nothing because there could be a good chance that later on Swiss will also give US(and Euro govs) the details of CLOSED accounts also, don't you think so?
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Old 05.12.2012, 22:41
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Re: switzerland-us-sign-pact-against-tax-evasion

Under the framework, Swiss banks would report directly to the IRS on any U.S. owned account—if the account owner consents. (Even that is technically a criminal violation of Swiss bank secrecy laws, but the Swiss authorizes have agreed to grant an exception.) If a a U.S. account owner doesn’t consent to such reporting, the information will eventually be handed over anyway, after a process described by a Treasury official during a background briefing for reporters. According to the official, the Swiss bank would give the IRS a summary of the number of accounts and total value of accounts owned by “recalcitrant” U.S. citizens who refused to permit their information to be sent directly to the IRS. The U.S. government would then formally ask the Swiss government to collect and turn over information about the account holders on the list, under the terms of a separate agreement covering the exchange of tax information.
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