Toothless treaty

Print edition : June 27, 2014

Swiss bank Credit Suisse in Zurich. The bank has pleaded guilty to helping wealthy Americans avoid paying taxes through secret offshore accounts. Photo: Patrick B. Kraemer/AP

Another Swiss nank Wegelin, (logo in picture, on an office building in Zurich), closed in 2013 after pleading guilty to charges of helping wealthy Americans evade taxes through secret accounts. Photo: ARND WIEGMANN/REUTERS

A new OECD declaration paves the way for access to information on bank accounts in tax havens like Switzerland, but is still skewed in favour of such tax havens.
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