Swiss President Merz received the Singaporean Minister for Finance, Tharman Shanmugaratnam, in Berne on May 6 to discuss the global financial crisis. Switzerland and Singapore are both on the OECD's grey list - they also discussed common interests regarding bank secrecy and exchange of tax information.
The procedure of the OECD and the G20 in establishing which criteria should be crucial in assessing and implementing international standards concerning the exchange of information in tax matters was discussed during the meeting. Both countries agreed that in the exchange of international information in tax matters, transparency, fairness and the same terms for all countries involved must be sought. However, the automatic exchange of information would not be up for discussion.
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