Swiss banks to open up on Dutch clients

Switzerland and the Netherlands have reached agreement on a deal to exchange tax and banking information, tax minister Jan Kees de Jager said on Thursday.

‘Switzerland will no longer call on bank secrecy. The measure on exchanging financial information is part of a revision of the tax treaty between the Netherlands and Switzerland,’ the ministry said in a statement.
An estimated €7bn is being held by Dutch nationals in foreign bank accounts to avoid tax, news agency ANP says.
De Jager has already agreed deals with Belgium and Luxembourg, Bermuda, Guernsey and Jersey. Talks are currently ongoing with the authorities in Singapore, British Virgin islands and Cayman islands.

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