BGN Entrepreneur

Swiss bank accounts are always famous for its security and stability. Besides, for hundreds of thousand people all over the world, opening an offshore account, such as a Swiss bank account, has always been a very good way to avoid tax. However, such situation is going to change soon.
According to the recent news on the website of BBC, the US government is now expected to settle a tax evasion case with UBS, which is the biggest bank in Switzerland. The giant bank—UBS, has agreed to hand over details on 4450 account holders, who might be using their offshore account to avoid paying taxes in the US.
Meanwhile, Paris and Berne has just signed an OECD agreement to share tax information. As a result of this, a name list of 3000 French people with Swiss bank account was released to the French by the Swiss Banks that had a presence in France.
These changes could indicate the end of the secret Swiss bank account. It is obvious that Switzerland is preparing to relax some of the secrecy surrounding its banking system and will co-operate with international investigations into tax evasion.

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