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Swiss Politicians seek to block automatic exchange of banking information with developing countries

August 15th, 2017

Could we be seeing a return to the bad old days of Swiss Banking?

A right wing party in Switzerland, the Swiss People’s Party, has launched an assault on the automatic exchange of banking information, according to Swiss Daily Newspaper Tages Anzeiger.

Starting next year, Swiss Banks will need to inform tax authorities in 38 countries if one of their citizens opens up an account with the bank. The 38 are mostly members of the EU with a few other developed countries. (more…)

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Last year, 853 Belgian companies reported transferring deposits to “blacklisted” countries.
- Thursday Aug 17 - 5:11pm

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