U.S. and Switzerland begin negotiations for tax information exchange
"As called for in the G-20 meeting in London, we believe that all countries must adhere to international standards for exchange of tax information. We welcome moves by Switzerland to implement international standards by agreeing to revise the U.S.-Switzerland tax treaty for the exchange of information for tax purposes with the U.S." said U.S. Treasury Secretary Tim Geithner. "I look forward to swift conclusion of an agreement; this agreement has the potential to serve as an example for other leading financial centers around the world, and I will continue to demand transparency from countries on behalf of American taxpayers."
Negotiations are expected to begin April 28 in Berne, Switzerland.