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Swiss Banks Propose Universal Withholding Tax

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NO MORE SECRETS
Swiss bankers on Thursday called for the introduction of a broad withholding tax on earnings generated by foreign wealth to end international pressure on bank secrecy at a time when client inflows are flat. Switzerland's treasured bank secrecy laws came under unprecedented attack by western nations in the wake of the financial crisis and Berne had to make wide concessions to avert international sanctions, New York Times Reports.
SOURCE:   New York Times

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