Final Nail In The Coffin Of Banking Secrecy

Final Nail In The Coffin Of Banking Secrecy by Samuel Jaberg, swissinfo.ch

With international banking secrecy on the verge of being wiped out, pressure is mounting to give Swiss tax authorities the power to force banks to hand over data in cases of suspected tax evasion by Swiss citizens.

Although the government has bowed to international pressure and committed to the automatic exchange of information with foreign tax authorities from 2017, the Swiss still have the option of keeping their bank account information secret from the Swiss tax office.

“Foreign tax authorities can access any and all information concerning their citizens from Swiss tax authorities, while these same authorities remain bound and gagged in the face of their own tax...