Switzerland to be taken off tax haven list

24th September 2009, Comments 0 comments

The OECD will remove Switzerland from an international blacklist if it signs two agreements on financial information exchange this week.

Paris -- Switzerland is set to be removed from an international blacklist of uncooperative tax havens by the end of this week, a spokesman for the OECD told AFP on Wednesday.

The spokesman said the Alpine nation would be removed if, as expected, it signed two agreements on financial information exchange with the United States later on Wednesday and with Qatar on Thursday.

The two deals would give Switzerland the minimum of 12 such agreements required to be removed from the list, which was compiled earlier in 2009 as part of efforts to stop tax cheats during the economic crisis.

"If it signs these two agreements, Switzerland will be taken off the grey list by the end of the week," said a spokesman for the Paris-based Organisation for Economic Cooperation and Development.

Ten countries including Austria, Belgium and Luxembourg have been removed from the list after they agreed to implement new rules allowing for greater openness in their banking systems.

The OECD groups together 30 of the world's richest economies.

AFP / Expatica

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