Switzerland Meets With Irish Government Over Savings Tax Directive
Switzerland and the European Union remain deadlocked over the EU's Savings
Tax Directive, according to reports in the Swiss media this week. Following a meeting with the Irish presidency of the EU, the Swiss Economics
Ministry revealed that President Joseph Deiss had told the Irish government
that Switzerland will only sign the Directive along with eight other treaties
which are being negotiated. Although the EU is understood to be sticking to its guns with regard to the
linking of the Savings Tax Directive to the separate negotiations on, among
other issues, security cooperation and tax fraud, Ireland's Taoiseach, Bertie
Ahern announced that the presidency was prepared to "make efforts to achieve
progress in the negotiations". According to the Swissinfo news service, Mr Ahern is expected to discuss the
possibility of a high level meeting between both camps with Romano Prodi, the
head of the European Commission. However, the Swiss President seemed pessimistic with regard to the possibility
of breaking the deadlock this week, observing that: "Switzerland is not
about to change its strategy." A comprehensive report on the OECD, FATF and other 'offshore' initiatives, including the EU's Savings Tax Directive, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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