Inheritance tax deal signed with France

Switzerland and neighbouring France have signed a controversial deal on inheritance tax as part of an amended double taxation agreement. Paris hopes to bring in more money from wealthy tax dodgers. Under the accord signed in the French capital on Thursday, inheritances would be taxed based on where the recipient resides not where the deceased lived, as used to be the case. France, which taxes inheritance progressively up to 45 per cent, compared with Switzerland's maximum of seven per cent, hopes the new agreement will make it harder for people living in France to evade taxes. France is one of a growing number of cash-strapped governments trying to find tax cheats squirreling away cash in Swiss accounts. The agreement, which still needs approval by the parliaments in both countries, would also allow France to ask Switzerland to investigate suspicious bank activity even if it does not have the suspects' names. First step The French finance minister, ...