Britain Will Take in Billions of Pounds from Taxes on Swiss Bank Accounts

August 25th, 2011

Via: BBC:

A UK government minister has defended a deal with the Swiss that could capture tax of up to £5bn but keep bank account holders’ identities secret.

Undeclared money held by UK taxpayers in Swiss accounts will be taxed for the first time, at up to 34% of the total.

Treasury minister David Gauke said the deal was historic, with no chance of the Swiss abandoning tax secrecy altogether.

Research Credit: Neo

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