The United States Senate on Wednesday ratified a double-taxation agreement (DTA) with Switzerland, ending years of stalemate.
This content was published on
2 minutes
Keystone-SDA/jc
The agreement, which required two-thirds of votes, was accepted by a large majority, according to the US Senate websiteExternal link.
This accord, designed to meet international standards on the exchange of bank data, had been blocked for ten years by one US Senator. Rand Paul of the Republican Party fought against the DTA, which had already been signed in 2009, on grounds that it violated privacy. According to the Senate’s rules, an individual member of parliament can prevent a bill from being discussed by the entire House.
Mitch McConnell, the Republican majority leader in the Senate, found a loophole for the vote on Wednesday, according to Swiss television SRF. The agreement makes it easier for the Americans to obtain information from the Swiss authorities if they suspect tax evasion.
On a visit to the US in April this year, Swiss President Ueli Mauer expressed optimism that the blockage would soon be lifted.
As well as the DTA with Switzerland, the US Senate on Wednesday also ratified agreements with Japan and Luxembourg, which had also been blocked for years. These agreements will promote trade with trading partners, attract foreign investors and combat tax evasion through the exchange of information, Democratic Senator Ron Wyden told Reuters.
More
More
Swiss leaders upbeat after talks in US on tax and trade
This content was published on
A double-taxation agreement between Switzerland and the United States could soon be back on track, says the Swiss president at talks in Washington.
Correction: The original version of this article stated that the DTA would need to be re-submitted to the Swiss parliament for approval. This is not the caseExternal link – only future revisions would need parliamentary approval.
Swiss authorities announce cost-cutting in asylum sector
This content was published on
The government notably wants to improve integration into the labour force, particularly for people with protection status S.
Various leaders confirm participation at Ukraine peace conference
This content was published on
The presidents of Poland, Finland, and Latvia and the prime ministers of Spain and Belgium will be at the Swiss-hosted talks in mid-June.
This content was published on
In the winter season up to April 2024, railway and cable car operators ferried 3% more visitors compared to the previous winter, and 5% more than the five-year average.
Rhine flooding: Swiss to invest CHF1 billion with Austria
This content was published on
As part of an international agreement with Austria, the Swiss government wants to pump CHF1 billion ($1.1 billion) into flood protection measures along the Rhine over the next three decades.
Swiss government proposes CHF10 million UNRWA donation
This content was published on
After months of debate, Switzerland plans to give CHF10 million ($11 million) to the UN agency this year, rather than the CHF20 million initially foreseen.
Swiss study: insects mainly migrate at midday and dusk
This content was published on
A study led by the Swiss Ornithological Institute in canton Lucerne is helping to better understand the movement patterns of migratory insects.
Red Cross: 22 staff killed in Middle East since October
This content was published on
The Red Cross and Red Crescent network in Gaza and Israel has lost 22 staff members since last October, the Swiss Red Cross (SRC) said on Wednesday.
Dortmund’s Kobel is first Swiss goalie in Champions League final
This content was published on
Borussia Dortmund’s Gregor Kobel has achieved history by becoming the first Swiss goalkeeper to reach a Champion’s League final.
University students in Switzerland join Gaza protest wave
This content was published on
Pro-Palestinian activists occupied university buildings in Lausanne, Geneva and Zurich on Tuesday, widening the protest movement in the Alpine nation.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Another Swiss bank settles German tax evasion probe
This content was published on
The dispute centered around accounts held for German citizens who failed to declare taxes between 2004 and 2009. Schaffhausen in northern Switzerland borders Germany. In 2015 the bank also agreed to pay the United States $1.6 million to clear up a similar investigation. Since 2009 the bank says it has adopted a “white money” strategy…
This content was published on
The image of Swiss banks has returned for the first time to pre-crisis levels, according to a survey. Cybercrime remains a concern, however.
Switzerland and Japan seek to bolster economic relations
This content was published on
During a visit to Tokyo on Monday, Swiss President Ueli Maurer and Japanese Prime Minister Shinzo Abe reinforced strong economic relations.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.