Another Swiss Bank Settles German Tax Investigation Probe

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More controversy surrounding Swiss banks in the tax world, as Schaffhauser Kantonalbank Hauptsitz Schaffhausen Bank, located in Switzerland has reportedly paid almost EUR €4 million to the German state of North Rhine Westphalia. The payment will settle an investigation over German clients accused of tax evasion by failing to declare their bank accounts between 2004 – 2009. This means that the bank will avoid further tax probes from Germany.