TJN event in Switzerland

Swissinfo reports:

"Pro-transparency non-governmental organisation Tax Justice Network argues that Switzerland stands to benefit from putting such a system in place. Spokesman Markus Meinzer believes it is a question of months, not years before it becomes law.

“A lot of Switzerland is warming to this system. Really because several of the crassest, thinnest arguments against it are being proven to be nonsense,” he told swissinfo.ch.

Meinzer says people’s privacy will only be infringed to a certain extent. “Already with the [current system of] exchanging information on demand, information can only be transferred to public authorities that are involved in tax administration and tax justice. A citizen cannot obtain the data.”

The whole article gives a good flavour. It continues:

"The principle of withholding tax was dismissed by the EU’s ambassador to Bern last month as an outdated concept that aims to preserve anonymity instead of transparency.

“I do not think that foreign countries will accept such [a move],” added Meinzer.

“Countries would no longer able to apply their own tax rates. The trend is clearly towards transparency and information exchange, which a withholding tax attempts to override.”