Swiss lukewarm on tax treaty calls

Author (Person) ,
Series Title
Series Details 15.9.11
Publication Date 15/09/2011
Content Type

In August 2011 Switzerland and Germany reached a landmark tax agreement designed to clamp down on tax evasion by German residents with secret Swiss bank accounts.

In September 2011 Switzerland reacted coolly to German calls to renegotiate the landmark tax treaty by noting that the deal involved sacrifices for both nations.

Bern’s intervention came as a number of German state governments signalled they were considering voting against the deal when it came to the upper house of parliament for ratification this autumn. The Social Democrat-led states, which hold a Bundesrat majority, have rounded on the national government, led by Christian Democrats, for allowing Swiss banks to keep secret clients’ names.

Separately, Swissinfo.ch reported in September 2011 that the bilateral tax agreements concluded by Switzerland in August 2011 with Germany and Britain have become a bone of contention in the European Union. Are these agreements compatible with the European directive on the taxation of savings, now being renegotiated, and the accord Switzerland concluded with the EU covering this area in 2004?

In July 2012 FTD and other news sources reported that German tax authorities reportedly purchased a new CD containing client details of some one thousand German tax evaders with accounts at the Zurich branch of Coutts private bank.

Related Links
ESO: Background information: Swiss tax deal to raise UK revenue http://www.europeansources.info/record/swiss-tax-deal-to-raise-uk-revenue/
ESO: Background information: Tax data sale chills Swiss-German ties further http://www.europeansources.info/record/tax-data-sale-chills-swiss-german-ties-further/
Swissinfo.ch, 14.9.11: Swiss deals complicate EU tax negotiations http://www.swissinfo.ch/eng/Specials/Rebuilding_the_financial_sector/News,_results,_regulations/Swiss_deals_complicate_EU_tax_negotiations.html?cid=31129410
EurActiv, 3.4.12: Swiss-German spat risks derailing tax evasion deal http://www.euractiv.com/euro-finance/swiss-german-spat-risks-derailing-tax-deal-news-511920
Spiegel Online International, 3.4.12: Germany Outraged over Swiss Arrest Warrants http://www.spiegel.de/international/europe/0,1518,825443,00.html
Spiegel Online International, 2.4.12: 'Switzerland Has a Lot of Explaining to Do' http://www.spiegel.de/international/europe/0,1518,825244,00.html
Swissinfo.ch, 2.4.12: Germany denies strained Swiss relations http://www.swissinfo.ch/eng/Specials/Rebuilding_the_financial_sector/Spotlight_on_banking_secrecy/Germany_denies_strained_Swiss_relations_.html?cid=32406598
Deutsche Welle, 2.4.12: German opposition condemns Swiss tax arrest warrant http://www.dw.de/dw/article/0,,15854189,00.html
BBC News, 2.4.12: Swiss arrest warrants fuel tax row with Germany http://www.bbc.co.uk/news/world-europe-17584080
Swissinfo.ch, 14.7.12: German taxman reported to buy new CD of data http://www.swissinfo.ch/eng/business/German_taxman_reported_to_buy_new_CD_of_data.html?cid=33109220
Deutsche Welle, 14.7.12: German region reportedly buys second tax cheater CD http://www.dw.de/dw/article/0,,16097889,00.html

Subject Categories
Countries / Regions ,