Originally posted on The Isaac Brock Society:
The court said that mere tax evasion (not fraud) was not a reason for Switzerland to provide information to the IRS.
“Et le tribunal maintient que le fait de ne pas déclarer un compte ne constitue pas une fraude.” (The court maintains that not declaring an account does not constitute a fraud).
This is excellent news, I just hope that parliament doesn’t screw it up.
Here is the New Zurich Newspaper article on the same decision. It goes into more specific details. I don’t have time to do a manual translation from German so you’ll have to try Mr. Google. http://www.nzz.ch/nachrichten/wirtschaft/aktuell/amtshilfe-gestoppt_1.16381062.html
Also, here is the Bloomberg coverage for the same (in English): http://www.businessweek.com/news/2012-04-11/swiss-court-rejects-disclosure-of-credit-suisse-client-s-data