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Switzerland, France ink tax deal - Yahoo! News
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Switzerland said Thursday it signed a double taxation deal with France that would allow for data exchange aimed at clamping down on tax cheats.
The agreement "contains a provision on the exchange of information in accordance with the OECD standard," said the Swiss finance ministry in a statement, referring to rules established this year by the 30-nation Organisation for Economic Cooperation and Development.
French Finance and Economy Minister Christine Lagarde, who signed the deal with Swiss Finance Minister and President Hans-Rudolf Merz, described the treaty as a "positive" one.
Banking secrecy can now "no longer be used by one of the two countries in its refusal to provide information" of tax dodgers, she told journalists.
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