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Are banks in countries with strong secrecy laws (like Switzerland) letting the government see their account balances for oversight and tax compliance purposes?

If so, wouldn't that defeat the purpose of such laws?

And if not, who's guaranteeing that those banks are collecting the right amount of taxes (even if the right amount is a very low amount)?

  • This is interesting question but seems to be more about how the legal framework allows for that than any economics. If that is so Law.SE might be better place for such question – 1muflon1 Aug 1 at 12:13
  • I posted in here because maybe there was something about the banking system that I wasn’t understanding correctly. But I think you are right, this is more into the legal side of things. I am new here, is there a way to move this into Law.SE? Or do I have to create a new post there? – javim__ Aug 1 at 13:02
  • mods can move it I will ask them to do so – 1muflon1 Aug 1 at 13:03

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