Financial Times FT.com

Italian police in tax raid on Swiss banks

By Vincent Boland in Milan

Published: October 28 2009 00:05 | Last updated: October 28 2009 00:05

Italy’s financial police raided the branches of Swiss banks around the country on Tuesday in a growing clampdown on tax evasion that is causing friction between the Swiss and Italian governments.

The Guardia di Finanza, accompanied by tax inspectors from the Agenzia delle Entrate, Italy’s equivalent of the Internal Revenue Service, visited 76 Italian branches of Swiss banks to ensure that they were providing “correct and timely information” to the tax authorities, the two agencies said.

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