Following months of bitter wrangling over tax issues between the two countries, Switzerland and Germany finally – and very publicly – buried the hatchet on the eve of this week's tax conference in Berlin.
Emerging from talks over dinner, Germany’s Finance Minister Peer Steinbrück and Switzerland’s President and Finance Minister Hans-Rudolf Merz, both appeared relaxed and content, as efforts to reconcile their differences and resume cordial relations appear to have been successful.
Despite having expressed his disappointment and irritation during the meeting, regarding certain comments made recently by German Finance Minister Steinbrück, Swiss President Merz nevertheless emphasised the mutual benefit of resuming amicable and constructive dialogue with his German counterpart.
Not only have significant strides been made in improving relations between the two countries, but a new Double Taxation Agreement (DTA) is also currently being negotiated. Switzerland is pledging to provide greater assistance to the German authorities in tax matters, complying fully with the OECD standards.
A further round of negotiations regarding the new DTA is due to take place on July 13. However, any agreement will still have to be put to a Swiss referendum.
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