UK signs tax agreement with the Swiss

Dave Hartnett

Treasury minister Syephen Timms has signed a tax information exchange
aggreement with the Swiss.

The deal will see the Swiss swap information in a form that meets standards
set by the OECD.

This latest deal follows a deal signed between the Uk and Lichtenstein.

Dave Hartnett, permanent secretary for tax at HM Revenue and Customs, said:
‘Transaprency and information exchange are the foundation on which fair and
effective tax systems are built.’

Stephen Timms said in a statement: ‘The days when hiding money off-shore
represented a viable means of evading UK tax are rapidly drawing to a close.’

The move follows a similar agreement signed between Switzerland and France.
The US recently indicted two Swiss nationals accusing them of helping clients
evade taxes. Last month Swiss bank UBS agreed to disclose the names of more than
4,000 US clients.

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