Swiss Abroad

Surveying the wreckage of torpedoed US tax deal

This content was published on Jun 20, 2013 On Wednesday the House of Representatives finally threw out plans to allow banks to pass over confidential data to the US. The biggest fear is that the US Department of Justice (DoJ) will renew the type of prosecutions that sparked the demise of Wegelin bank earlier this year. “It is very likely that [the DoJ]…

Swiss Politics

Swiss parliament kills divisive US tax bill

This content was published on Jun 19, 2013 For the second time in as many days, the House of Representatives on Wednesday rejected a government-sponsored bill which would have paved the way for the Swiss banks suspected of helping wealthy Americans evade taxes to take part in a US programme to come clean with their past. An alliance of the rightwing Swiss People’s…

Swiss Politics

EU plays tough ahead of tax talks with Swiss

This content was published on Jun 17, 2013 “It is widely accepted that the era of banking secrecy is over. Resisting the clear international trends for more transparency and information sharing is pointless,” EU tax commissioner Algirdas Semeta told journalists following talks with Swiss finance minister, Eveline Widmer-Schlumpf, in the Bern on Monday. Semeta said Switzerland could gain trust and international acceptance if…

Swiss Politics

Government condemns alleged US snooping

This content was published on Jun 17, 2013 The government issued a written statement to this effect on Monday evening, prompted by a range of questions from members of parliament, which there was no time to answer during the afternoon’s session. The questions arose from the revelations of internet snooping and allegations of CIA activity in Geneva made by former US intelligence service employee Edward…

Swiss Politics

Swiss president calls for foreign spy inquiries

This content was published on Jun 16, 2013 “We have known for a long time that foreign information-gathering activities have increased in Switzerland,” the president and minister of defence told the NZZ am Sonntag newspaper, stating that he was “not surprised” by revelations of such activities provided by 29-year-old National Security Agency whistleblower Edward Snowden last week. However, Maurer pointed that the country…

Swiss Politics

Police crash illegal Art Basel party

This content was published on Jun 15, 2013 No one was arrested in the incident, although police responded with tear gas and rubber bullets when some in the crowd began throwing bottles, chairs and bags of paint after being asked to turn off their music. About 100 people were involved in the clash, which took place at the site of Japanese artist Tadashi…

Swiss Politics

Swiss leaders call for data exchange standards

This content was published on Jun 14, 2013 The move confirms a statement made by Finance Minister Eveline Widmer-Schlumpf last December, but stops short of scrapping banking secrecy. At a news conference in the Swiss capital Bern on Friday, Widmer-Schlumpf said such global rules by the Organisation for Economic Co-operation and Development (OECD) would have to be sustainable, guarantee reciprocity and be in…

Swiss Politics

Quicker decisions expected for asylum seekers

This content was published on Jun 14, 2013 Speaking in Bern on Friday, Justice Minister Simonetta Sommaruga said the goal was to increase the capacity of federal processing centres to centralise procedures and deal with 60 per cent of requests in less than five months. Last year, the government had talked about aiming for an average of 120 days for authorities to process…

Swiss Politics

US continues hunt for tax dodgers in Swiss banks

This content was published on Jun 14, 2013 Wegelin, which announced at the beginning of this year it would close its doors, on Friday confirmed reports that it had received notification by Switzerland’s Federal Tax Authorities to comply with the US request, based on a 1996 double taxation agreement. A bank official added that Wegelin would submit the necessary information. The request focuses…

Swiss Politics

Swiss benefit financially from migration

This content was published on Jun 14, 2013 The 2013 International Migration Outlook found that migrants to Switzerland helped increase net state tax revenue by at least CHF6.5 billion ($7 billion). Using more generous calculation methods, this could even rise to CHF11 billion, the report stated. This is the equivalent to 1.9 per cent of gross domestic product. The only OECD country with…

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Surveying the wreckage of torpedoed US tax deal

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Swiss parliament kills divisive US tax bill

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EU plays tough ahead of tax talks with Swiss

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Government condemns alleged US snooping

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Swiss president calls for foreign spy inquiries

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Police crash illegal Art Basel party

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Swiss leaders call for data exchange standards

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Quicker decisions expected for asylum seekers

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US continues hunt for tax dodgers in Swiss banks

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Swiss benefit financially from migration

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