ZURICH, March 28 (Reuters) - Switzerland is nearing dealswith Germany and the United States over hidden offshoreaccounts, including paying U.S. officials 5 billion Swiss francs ($5.5 billion) to settle allegations of aiding tax evasion, according to reports on Wednesday.
Tensions in Switzerland's talks with the United States have eased after the U.S. Department of Justice shifted prosecutors away from the crackdown on Swiss banks, Tages-Anzeiger said, citing undisclosed sources.
That makes an indictment of another Swiss bank unlikely, after Wegelin was indicted in February, and would represent a more cooperative U.S. approach to negotiations.
A deal in ongoing negotiations with the United States is likely to include Swiss banks paying 5 billion francs in fines, Tages-Anzeiger reported, citing sources.
Read more at: Tax Times blog
