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Switzerland off the tax haven list

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Switzerland off the tax haven list

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Switzerland is to removed from the OECD’s “grey list” of countries accused of being tax havens, as the alpine nation has signed a sufficient number of new bilateral agreements on tax cooperation. Countries on the “grey list” have to sign 12 bilateral tax agreements before being removed from the list.

France, Germany and the United States took on countries like Switzerland and Liechtenstein claiming secret banking rules caused major losses for state coffers. The issue came to the forefront as the global economic crisis began to bite.