Swiss president says country is close to finalizing tax evasion deal with Germany

Switzerland: close to tax deal with Germany

BERN, Switzerland — Swiss President Doris Leuthard says her country is close to finalizing an agreement with Germany to exchange information on suspected tax cheats.

Leuthard says “the negotiations with Germany are in a phase of ending” and could be completed Friday or next week.

Germany has been one of the harshest critics of Switzerland’s strict banking secrecy laws.

Earlier this year Germany tax authorities purchased several disks containing stolen data on German account holders in Switzerland. The move prompted an outcry in the Alpine republic.

Leuthard told reporters Thursday that she also hopes parliament will approve a deal between the Swiss and U.S. governments to resolve a long-running spat over Swiss bank UBS helping rich Americans evade taxes.