Banking secrecy, talks with the U.S. and Europe in order to decide the order
Begin the first discussions on the future of banking secrecy. The EU wants a common agreement for all states, Switzerland has not.
BRUSSELS / BERNE - The agreement between Switzerland and the European Union in 2004 on tax fraud should be renegotiated. This is the view of EU taxation commissioner László Kovács, in the coming months it intends to seek a mandate to that effect to the Council of Ministers. Kovács's announcement goes to collide head-on with the strategy of the Federal Council on the relaxation of bank secrecy, and comes right in the day in Bern were initiated discussions with the U.S. to sign the new agreement on double taxation.
According to Kovács is much better to aim for a treaty between Bern eBruxelles only, rather than 27 bilateral agreements with all Member States. The orientation of Brussels clashes with the strategy chosen by the Federal Council in an interview published Sunday by the "SonntagsZeitung" Minister Micheline Calmy-Rey said that Switzerland has "no reason" to renegotiate the agreement in question . "The Federal Council decided to apply the new rules of administrative assistance under double taxation agreements negotiated from time to time with each partner country," said Calmy-Rey, adding to doubt that the European Commission to succeed to persuade all 27 member states in a joint decision (decisions in tax matters must be unanimous).
When asked, Kovacs declined to respond directly to the words of Calmy-Rey. He however assured that it will not make war to Switzerland: the objective is to apply international principles of transparency and good governance in tax matters.
Meanwhile, today in Berne Delegations of Switzerland and the United States started negotiations on the revision of double taxation between the two countries. At the center of discussions are necessary conditions to provide administrative assistance in combating tax evasion. As a rule today on the foreign tax authorities provide information only in cases of tax fraud (deliberate falsification of documents to avoid paying taxes), but not if you are facing tax evasion easy (error or omission "in paying taxes) : a distinction rooted in Swiss practice, but poorly understood abroad that the federal government may have to leave under international pressure.
Fourteen states have now made you want to know how to handle new double taxation agreements. The agreement with the U.S. is not the first time - have already started negotiations with Japan and Poland - but it is of vital importance, taking into account the economic strength of Washington and its political importance, including in relation to difficult cases UBS. Discussions could continue throughout the week.
Red. Int (source ats)
Related news
[...] Announced several weeks ago, on Tuesday confederation with the United States has entered into specific negotiations for a revision of the agreement to incorporate fully the OECD standard on administrative matters [...]