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Swiss bill to ease bank secrecy rebuffed
Source: BBC
18 June 2013 Last updated at 13:49 GMT
Swiss bill to ease bank secrecy rebuffed
The lower house of Switzerland's parliament has refused to debate a bill that would allow Swiss banks to pass client information to the US tax authorities.
The bill is the result of pressure from the US following revelations that Swiss banks had helped American account holders to evade taxes.
The US had demanded action by 1 July, but the Swiss parliament summer session ends this week.
The bill will now return to the Senate.
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Swiss bill to ease bank secrecy rebuffed
The lower house of Switzerland's parliament has refused to debate a bill that would allow Swiss banks to pass client information to the US tax authorities.
The bill is the result of pressure from the US following revelations that Swiss banks had helped American account holders to evade taxes.
The US had demanded action by 1 July, but the Swiss parliament summer session ends this week.
The bill will now return to the Senate.
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Read more: http://www.bbc.co.uk/news/world-europe-22954374