Czech Foreign Minister Karel Schwarzenberg, in an interview with local press, has voiced support for Switzerland in the banking secrecy debate, questioning many G20 countries' motives.
Speaking to NZZ am Sonntag, Schwarzenberg argued “certainly tax coffers here and there miss out on a couple of million euros but the country’s independence and the tradition of the autonomous and neutral Switzerland should be valued higher,” adding: “Why do you have to break that at all costs?”
G20 countries are expected to discuss a new version of the so-called ‘blacklist’ at their meeting in April, which will list the world’s 'uncooperative jurisdictions'.
In a statement on March 6, the Swiss Federal Council said: “the Federal Council took note of the criticism and the threats directed towards Switzerland by various countries concerning the question of the exchange of information on tax issues. The Federal Council considers this criticism to be unjustified. Switzerland is not a tax haven. It has an efficiently-functioning tax system and imposes normal taxes while striving to maintain competitive rates. The Federal Council stated once again today that Switzerland has concluded a number of bilateral and multilateral agreements which provide a basis in law for an exchange of information for tax purposes between Switzerland and other states.”
“The Federal Council has today taken the decision to optimise international cooperation with other countries in the case of tax offences. In addition it is prepared to enter into dialogue with third countries on the taxation of savings income. In so doing, the Federal Council will strive to ensure that the Swiss financial centre can compete on the international markets on the same terms so as to prevent it from experiencing competitive disadvantages,” concluded its statement.
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