An End to the Days of Offshore Noncompliance?

As reported today by the New York Times, "[Swiss] Finance Minister Eveline Widmer-Schlumpf said at a news conference in Bern that the [Swiss] government would now provide administrative assistance in cases where foreign governments sought information on account holders, even where they had only incomplete data about the suspected tax evaders." This move is meant to bring Switzerland in line with globally applicable standards regarding providing assistance in tax evasion cases, and according to Jeffrey Owens, Director of the Organization for Economic Cooperation and Development's Center for Tax Policy and Administration, could signify that "'we are coming to the end of the days of offshore noncompliance.'"