Swiss Banks Seek Tax on Foreigners in Secrecy Fight

September 17th, 2009


Swiss banks proposed a withholding tax for foreign clients as they bid to fend off attacks on banking secrecy by the U.S., Germany and France.

The tax on the interest, dividends, capital gains and investment income could raise “billions per year” for foreign governments, Urs Roth, chief executive officer of the Swiss Bankers Association, said in an interview in Zurich today. The proposal would extend a tax on interest income already assessed on Swiss residents and some European Union citizens.

Continue reading at

Written by admin

Follow @FinTrCo