Swiss – US Tax Evasion Saga: Where Are We Now?

Swiss – US Tax Evasion Saga: Where Are We Now? by Matthew Allen – swissinfo.ch

swissinfo.ch charts the evolution of the long-running tax dodging dispute between Switzerland and the United States and looks at how far there is still to go before the final curtain can be drawn on the affair.

The United States wound up its “Category 2” tax evasion programme on Wednesday, netting $1.36 billion (CHF1.38 billion) from 80 Swiss banks that admitted helping US citizens cheat the tax man.

Let’s rewind to start with. How did the Swiss – US tax evasion row start?

The US had long suspected Swiss banks of harbouring US tax cheats (as did other countries). But Swiss banking secrecy made this impossible to...