Tax-evasion deals gain approval from European Commission

04/18/2012 | Reuters

The European Commission approved agreements that Germany and the U.K. reached with Switzerland regarding tax evaders. The deals would force Swiss banks to tax clients' money and transfer proceeds to the German or U.K. government. "These revised agreements are in full compliance with EU law, and the work on these agreements demonstrated what is possible with cooperation," EU Taxation Commissioner Algirdas Semeta said.

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