Switzerland and Germany have reached an agreement on the treatment of undeclared assets, Tages-Anzeiger said, citing people close to the negotiations.
To legalize undeclared assets, they will be taxed at a rate of as much as 41 percent, up from the previously discussed 18 to 34 percent, according to the most recent version of the agreement, the Zurich-based newspaper said. The withholding tax for future income will be raised to 29 percent from 26 percent.
The final numbers may still change somewhat, the newspaper said.
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