Wednesday, August 10, 2011

Swiss-German tax deal signed, unfortunately

From Reuters:
Switzerland and Germany have agreed to tax money stashed by German citizens in secret Swiss accounts, in a deal that may net Germany billions of francs and will force the Swiss banking sector to clean up its act.
The official Swiss press release is here.

We don't like this deal, not at all. See our earlier posts on this (here and here), and see the delighted response in the Reuters story from those facilitators of tax evasion and other crimes: the Swiss bankers. And, shamefully, from the BBC, whose reporter Imogen Foulkes has proclaimed this to be "a good outcome for Berlin."

All is not lost yet - see this, for example, and the fact that this deal still needs to be ratified by Germany. More on this soon.


Blogger TC said...

First visit here. Came by way of Nick Shaxson tweet. Look forward to reading what's here (after market close). Quite find your blog's premise of "tax justice" compelling. BRB...

7:52 am  

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