During a recent visit to Berlin, Switzerland’s State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters (SIF) in the Federal Department of Finance (FDF), met with representatives of Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas on current financial and tax policy issues.
In talks with his German counterparts, State Secretary Ambühl explained the Swiss Federal Council's new financial centre strategy, and in particular, discussed the ongoing negotiations regarding a new double taxation agreement between the two countries, market access issues and the purchase of stolen bank data by Germany.
According to the Swiss Federal Administration, both delegations affirmed that the postponed meeting between Swiss Finance Minister Hans-Rudolf Merz and German Finance Minister Wolfgang Schäuble should be quickly rescheduled.
This was also the inaugural visit of State Secretary Michael Ambühl, who assumed office as Head of the FDF's newly created State Secretariat for International Financial Matters (SIF) on March 1.
Led by Michael Ambühl, the SIF reports directly to the Head of the FDF. It is responsible for the coordination and strategic management of international financial, monetary and tax matters, and represents Switzerland's interests abroad in these areas.
The State Secretariat's duties also include drafting basic principles on financial market policy and financial market regulation, as well as actively participating in international efforts to combat financial crime.
A comprehensive report in our Intelligence Report series, examining in depth the situation of offshore transparency and secrecy in a number of the most prominent jurisdictions, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report2.aspTags: tax | offshore | banking | offshore banking | banking secrecy | offshore confidentiality | international financial centres (IFC) | double tax agreement (DTA) | individual income tax | Germany | Switzerland | tax avoidance
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