US bolsters Swiss tax treaty

It follows recent aggressive moves by President Barack Obama's administration to enforce US tax laws and reduce offshore tax evasion. Official signing of the protocol is expected in the coming months. The protocol allows for the would allow for the exchange of information for income tax purposes to the full extent permitted by Article 26 of the Organization for Economic Co-operation and Development (OECD) Model Income Tax Convention. Closing the "tax gap" is high on the US' political agenda, having strongly supported efforts to ensure all countries adhere to international standards fo...