SWISS BANKS
September 1st, 2002
BY KEITH NUTHALLSWITZERLAND has failed to come up with an adequate proposal for supplying information about tax evasion through Swiss savings accounts held by EU residents and may face financial sanctions unless it complies, the EU Commissioner for the internal market Frits Bolkestein has told EU finance ministers. Switzerland has said it would only release information where activity was suspected that was criminal under Swiss law. However evading taxes in foreign jurisdictions is not illegal in Switzerland. Brussels wants to end EU tax evasion through secret ...
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