OECD Warns Swiss About Tax Evasion
For the first time, the OECD used its annual country report on Switzerland to warn the country that its banks were still being used by non-residents to evade taxes. The report said that Switzerland would come under increasing pressure to provide more information about depositors. In April, 1998, Switzerland and Luxembourg were the only two European countries which refused to endorse the OECD's guidelines on harmful tax competition. .
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