German-Swiss Tax Deal Could Hit Snag

July 19, 2011 9:19 a.m. ET

ZURICH—Upfront payments may prove to be the key to Switzerland and Germany reaching a deal over an estimated $182.9 billion in undeclared funds held by wealthy Germans in Swiss accounts, a deal that the alpine nation hopes to use as a blueprint as it sweeps its private banks clean of untaxed assets.

Switzerland's banking lobby said Tuesday that the country's banks continue to hash out their differences on how to divide up a payment to German officials in return for "legalizing" funds held by Germans in Swiss...

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