Switzerland, Mexico sign taxation accord
The agreement will exchange data to control tax cheats, the Swiss Federal Tax Administration said Monday.Zurich -- Switzerland signed an accord with Mexico to allow for data exchange aimed at controlling tax cheats, the Swiss Federal Tax Administration said Monday.
The new deal would consider OECD standards on the exchange of tax information and marks the first such arrangement between Switzerland and a Latin American country.
Switzerland yielded to international pressure and announced earlier in 2009 it would ease banking secrecy rules and offer more assistance on tax offences.
To this end, it has signed similar deals with Denmark, Luxembourg, Norway, France, Austria and Britain.
Switzerland aims to approve by the end of 2009 about a dozen accords governing double taxation practices in order to meet standards recently set by the Organisation for Economic Cooperation and Development.
The goal is to secure its removal from an OECD "grey list” of countries considered tax havens.
AFP / Expatica