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German offshore accounts in tax havens in the UK and Switzerland
04/05/2012
Efforts by Germany to reach an agreement with the Swiss government and opposition leaders of the SDP and Greens on offshore accounts of Germans which are not taxed. These accounts in Switzerland hold an estimated $160 billion. Differences on what is an equitable rate of taxes. The Swiss preference is to maintain anonymity of accounts to protect this part of its financial sector of anonymous offshore accounts. Germany insists this is a route for tax evasion. Germany already has reached an agreement with the UK government.
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