Swiss President Hans-Rudolf Merz, in his capacity as Finance Minister, met his counterparts Josef Pröll (Austrian Finance Minister) and Luc Frieden (Luxembourg's Finance and Justice Minister) on March 8 to discuss the forthcoming G20 meetings on ‘tax havens’.
According to a release from the Swiss Finance Ministry the talks in Luxembourg served as a joint assessment of the situation, and an opportunity to co-ordinate points of common interest to the financial centres in the international environment. The talks also covered international cooperation on taxation issues. The three countries unanimously noted that neither Switzerland, Austria nor Luxembourg are tax havens and denounced the manner in which G20 countries have behaved unilaterally in the run-up to the meeting on April 2 as 'unacceptable'.
All three countries resolutely reject the creation of a system of automatic exchange of information on interest earnings.
A comprehensive report in our Intelligence Report series examining offshore confidentiality 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_report1.asp
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