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Reuters
Reuters
Business

Swiss cut off tax data, make visas harder for Russians

Switzerland will temporarily halt the exchange of tax information with Russia and make it harder for Russian citizens to get visas, the government said on Friday.

Switzerland, the world's largest centre for managing offhsore wealth, routinely exchanges bank data with other countries on their citizens' Swiss accounts.

At a meeting on Friday, the cabinet decided to suspend the exchange of tax information with Russia, it said in a brief statement, citing the public policy proviso of the administrative assistance convention in tax matters.

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