Blog

08
jun

Swiss lawmakers postpone debate on proposal for bank tax disclosure

Debate on the plan was postponed following complaints by several Swiss political parties that the measure lacked specifics – including the size of fines Swiss banks could potentially face

The National Council, Switzerland’s lower house, on Wednesday voted to postpone discussion on a proposal floated by the country’s cabinet last week that would let domestic banks provide information to US law-enforcement officials investigating alleged tax evasion.

Roland Meier, a spokesman for the Swiss finance ministry, said that the plan will now go to the finance committee of the upper house, or Council of States, for discussion, before being sent back to the lower house’s finance committee. The talks are expected to take place in the next two weeks.

online.wsj.com