swiss parliament rejects deal to expose us taxdodgers
Last Updated : GMT 20:41:34
Arab Today, arab today
Arab Today, arab today

Swiss parliament rejects deal to expose US tax-dodgers

Arab Today, arab today

Arab Today, arab today Swiss parliament rejects deal to expose US tax-dodgers

Geneva - AFP

Swiss lawmakers rejected Wednesday a deal proposed by Washington to expose American tax dodgers and halt a raft of US lawsuits provided that Swiss banks that helped stash the cash pay massive fines. The Alpine country\'s lower house, or National Council, shot down the controversial \"Lex USA\" accord, which would have temporarily lifted Switzerland\'s long-sacrosanct banking secrecy and allow banks to draw a line under past wrongdoing. A total of 123 members voted against giving emergency approval to the deal, amid anger over Washington insisting it was non-negotiable, had to be force by July 1, and that no details would be revealed until then. Sixty-three members were in favour, and four abstained. The vote came a day after G8 leaders agreed to chase tax cheats and crack down on corporate schemes to reduce tax bills, and just hours after Switzerland\'s upper house, the Council of States, approved the deal. The lower house had the final word on the issue, however. Swiss banks are believed to hold billions of dollars belonging to American citizens who have not declared these assets to US tax authorities. The take-it-or-leave-it settlement proposed by Washington was approved by the Swiss government at the end of May. But parliamentary approval was needed for a one-year waiver of Swiss banking secrecy rules, and lawmakers insisted they would not be railroaded into making a hasty decision. Without an accord, the banks risk breaking Swiss law if they give US authorities the names of American clients and of employees that handled their assets. The deal has been seen as crucial if Swiss banks are to escape the threat of a raft of lawsuits in the United States on charges of abetting tax evasion that could end in massive financial penalties as well as being barred from the big and profitable American market. The banking sector has said it wants to settle an issue which has poisoned ties with the United States since 2009, with the economic crisis having put the issue of tax evasion squarely in the global spotlight.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

swiss parliament rejects deal to expose us taxdodgers swiss parliament rejects deal to expose us taxdodgers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

swiss parliament rejects deal to expose us taxdodgers swiss parliament rejects deal to expose us taxdodgers

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday