banking secrecy News

Switzerland Publishes Review Of 2021 Tax Progress
Thursday, January 20, 2022
As part of its commitment to fighting cross-border tax evasion and profit shifting, Switzerland sent information on over 3m financial accounts in 2021, according to a new review of the Swiss financial center by the State Secretariat for International Financial Matters. Read Full Story

Juncker Grilled By European Parliament Tax Committee
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, June 7, 2017
Jean-Claude Juncker has asked members of the European Parliament to judge him on his record on tackling tax avoidance and evasion as the current President of the European commission, not in his previous roles in the Luxembourg Government. Read Full Story

50 Countries To Automatically Exchange Tax Data: OECD
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, December 28, 2016
Over 50 jurisdictions have committed to automatically exchange tax information under the OECD's Common Reporting Standard. Read Full Story

Swiss Private Banks Reflect On AEOI Initiatives
by Ulrika Lomas, Tax-News.com, Brussels
Tuesday, June 7, 2016
The Association of Swiss Private Banks has said that the introduction of new international standards for the automatic exchange of tax information will only achieve their objective if all financial centers exchange the same type of information with the same partners, at the same time. Read Full Story

Five States Agree To Adopt New Tax Transparency Standard
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, May 18, 2016
Bahrain, Lebanon, Nauru, Panama, and Vanuatu - five territories that were earlier criticized for not following tax transparency standards – have newly committed to sharing financial account information automatically with other countries. Read Full Story

Panama Must Put Its House In Order, Says OECD
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, April 6, 2016
The OECD has said Panama must ensure that it fully implements international tax transparency standards, describing the territory as the "last major holdout" that allows funds to be hidden offshore. Read Full Story

Swiss Court Announces Sentence For HSBC Data Leak
by Ulrika Lomas, Tax-News.com, Brussels
Wednesday, December 2, 2015
Hervé Falciani, who leaked details of accounts held by his former employer HSBC Private Bank in Switzerland to foreign tax authorities, was convicted while absent for economic espionage by the Swiss Federal Criminal Court. The Court's written opinion has yet to be published. Read Full Story

Liechtenstein Rated "Largely Compliant" By OECD
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, November 5, 2015
Liechtenstein's Prime Minister, Adrian Hasler, has welcomed recognition from the international community for its efforts to improve tax transparency. Read Full Story

Italy Ratifies Switzerland, Monaco, Liechtenstein TIEAs
by Ulrika Lomas, Tax-News.com, Brussels
Monday, August 31, 2015
Italy's Cabinet on August 7 approved legislation to ratify the tax agreements signed with Switzerland, Liechtenstein, and Monaco. Read Full Story

Switzerland Postpones Withholding Tax Reforms
by Ulrika Lomas, Tax-News.com, Brussels
Thursday, June 25, 2015
The Swiss Federal Council is to postpone a planned overhaul of the withholding tax system and re-examine the appropriateness of the reforms at a later date. Read Full Story
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