Switzerland said it will make it easier for foreign governments to hunt for tax cheats with Swiss bank accounts, amid continuing criticism that it still does too little to assist international tax authorities even after two years of pressure to ease bank secrecy.
The Swiss Finance Ministry said Tuesday that Switzerland will provide information on holders of bank accounts if foreign tax authorities provide only the bank account number or other information such as a Social Security number or credit card details.
Until now, the Swiss demanded the bank account details as well as the name and address of the individual, a requirement that goes beyond rules typical in other countries. The extra hurdles made it particularly hard for foreign tax authorities to get enough information out of the Swiss to pursue tax cheats.
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