90m Swiss francs hit seen from tax deal

Weekend Argus (Saturday Edition) - - BUSINESS -

ZURICH: Swiss bank Credit Suisse said yes­ter­day it saw a max­i­mum hit of 90 mil­lion Swiss francs (R945m) from a Bri­tish-Swiss tax deal aimed at sweep­ing Swiss banks clean of un­de­clared money held in ac­counts of UK clients.

The Swiss Bankers As­so­ci­a­tion, the lob­by­ing body for Swiss banks, said im­ple­men­ta­tion of the agree­ment was on track, and that fewer un­taxed as­sets had come to light than orig­i­nally as­sumed.

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