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Merz Discusses Swiss Standpoint On Savings Tax

by Ulrika Lomas, Tax-News.com, Brussels

30 April 2009

On April 23, Swiss President Hans-Rudolf Merz met Swedish Prime Minister Frederik Reinfeldt and the Financial Markets Minister, Mats Odell, in Stockholm. The meeting took place in view of Sweden assuming the presidency of the European Union on July 1, 2009.

At the meeting President Merz outlined Switzerland's European policy to his hosts, emphasising the clear acceptance by the Swiss electorate last February of the renewal and extension of the Agreement on the Free Movement of Persons. For his part, Prime Minister Reinfeldt outlined Sweden's priorities during its presidency of the EU.

The financial crisis and the counter measures taken by both countries were also discussed. Furthermore, the parties considered the Agreement on the Taxation of Savings Income concluded between Switzerland and the EU. President Merz reiterated the Federal Council's desire to retain the `coexistence model' and to reject an automatic exchange of information. However Merz emphasised Switzerland`s willingness to discuss enhancing cooperation with Brussels on the taxation of savings income.

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