Swiss lawmakers take steps to approve US tax deal
February 29, 2012
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BERN, Switzerland—Swiss lawmakers have moved a step closer to approving a deal that would make it easier for U.S. authorities to gather information on suspected tax evaders.
Parliamentarians in Bern rejected moves Wednesday by the nationalist Swiss People's Party to block further debate on the proposed revision of a double-taxation agreement with the U.S.
Members of Switzerland's lower house will now decide formally Monday whether to approve a deal with Washington that already has the backing of the Swiss government and the upper house.
Under the agreement, U.S. authorities will be able to submit "group requests" if there is evidence that banks systematically helped their American clients hide money from the Internal Revenue Service.
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