ZURICH (Reuters) - Switzerland is nearing deals with Germany and the United States over hidden offshore accounts, 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.
In withholding tax negotiations with Germany, Switzerland has conceded a higher rate of tax to German officials, Handelsblatt reported, citing sources close to the negotiations.
Government spokesman Mario Tuor said Switzerland has made proposals. Switzerland expects a resolution to the talks - meaning their failure or clinching a deal - by the end of this week.
($1 = 0.9050 Swiss franc)
Reporting By Katharina Bart; Editing by Dan Lalor