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Banking and taxes Government rejects extra services for Swiss abroad

PostFinance allows accounts for the Swiss abroad on a case-by-case basis

(Keystone)

The government has decided not to introduce any special tools to help the Swiss abroad with their finance and tax issues, saying the current offering suffices.

The cabinet said in a report that the consular services of the foreign ministry already provide advice on tax and financial matters with a round-the-clock helpline. A network of specialised services also exists to support the Swiss abroad, such as the foreign ministry’s offering for those who want to return to Switzerland.

In addition, the postulate issued by the government on Wednesday clearly rejected obligating PostFinance to allow the Swiss abroad to hold special accounts. The report stated that PostFinance’s legal and reputational risks would increase considerably if it were given this mandate, and that foreign legislation might also prohibit such payment services.

The government did show support for the current service offered by PostFinance, which allows for such accounts on a case-by-case basis.

It also said that Swiss citizens living abroad should consult private law firms or tax advisors for help with financial issues related to their countries of residence, since Swiss tax law only applies domestically.

swissinfo.ch and agencies

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