Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Swiss Government Rejects Calls For Mandatory Vote On Bilaterals II
by Ulrika Lomas, for LawAndTax-News.com, Brussels

25 June 2004

The Swiss government announced this week that none of the nine bilateral treaties recently agreed with the European Union will be put to a mandatory referendum, a move which has been condemned by the right wing Swiss People's Party.

According to the Swissinfo news service, following a regular weekly meeting, the Swiss cabinet explained that the agreements did not merit the calling of a compulsory referendum, as they do not require Switzerland to join a supranational body or collective security organisation.

The government's decision means opponents of the accords, which include the Schengen agreement on cross-border crime, will now have to collect 50,000 signatures in order to force a nationwide vote on the issue.

Although it is expected that the People's Party and allies such as the Campaign for an Independent and Neutral Switzerland (CINS) will have no problem gathering the required support for their objections, the government is likely to find it easier to push the agreements through in such a ballot, whereas a mandatory vote would require the support of a majority of both voters and cantons to pass them.

This follows the announcement earlier this week that in response to concerns expressed by Switzerland with regard to the timeframe given for the implementation of the 'Bilaterals II' treaties, the EU has opted to delay the implementation of its Savings Tax Directive by six months, to July 1, 2005.

.

 


IMPORTANT NOTICE: THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright THE LOWTAX NETWORK 1999 to 2009. Contact us for further information.