Merz plays down tax investigation
There is no reason for Switzerland to be affected by the German tax investigation in Liechtenstein, Finance Minister Hans-Rudolf Merz said on Saturday.
The Germans are interested in a particular kind of foundation in Liechtenstein which does not exist under Swiss law, he told Swiss radio. "I cannot imagine why there should be any problem for Switzerland."
Although some of the money held by the foundations in Liechtenstein is invested in Swiss banks, that does not mean the Swiss bank is party to tax evasion, he added.
Switzerland has a law against money laundering and an agreement with the European Union to combat fraud, he explained.
Economics Minister Doris Leuthard is due to meet government officials in Liechtenstein on Monday.
Germany launched a large-scale investigation into alleged tax evasion by some of its wealthy citizens earlier this month after its intelligence service paid for confidential banking records stolen from a wealth management group in Liechtenstein.
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