The End Of Swiss Bank Secrecy?

Bank for International Settlements (BIS) in Basel, Switzerland (Reuters / Arnd Wiegmann)

Switzerland, Singapore Join Clampdown On Bank Secrecy -- 7 News/Reuters

PARIS (Reuters) - Switzerland and Singapore joined on Tuesday the growing ranks of countries agreeing to share tax information in a major breakthrough against bank secrecy, the OECD said.

Under the pledge signed by a total 47 countries, all financial information will be shared between governments, including taxpayers' bank balance, dividends, interest income and sales proceeds used to calculate capital gains tax.

"It's clearly the end of bank secrecy abused for tax purposes," OECD tax director Pascal Saint-Amans told journalists at a meeting held by the international think tank in Paris.

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More News On The End Of Swiss Bank Secrecy

Swiss sign on to OECD tax evasion measure -- The Local
Switzerland pledges to lift veil on tax secrecy -- Financial Times
End of bank secrecy? Switzerland, Singapore agree to share tax information -- RT
47 countries move on tax evasion by agreeing to share bank data -- Expatica
Black Money: Switzerland, India, 45 Others Agree on Tax Info Exchange -- NDTV
Singapore and US reach tax evasion deal-- BBC

Update: 'Central Asia and Africa may take place of Switzerland and Singapore as offshore banking havens' -- RT