Informant offers Swiss account data
(3 February 2010 – Europe) Chancellor Angela Merkel has said that the German government is considering paying for stolen secret account data pertaining to its citizen’s alleged tax evasion in Switzerland.
Authorities, who have seen samples of the data, have confirmed that the information stolen from a Swiss bank is authentic.
The information on the secret Swiss accounts is being offered to the government for €2.5 million (A$4 million), however could yield €200 million in lost tax revenue for the German government.
Switzerland is known as a tax haven and the nation’s private banking industry has built its creditability upon promising confidentiality.
Swiss banks have come under attack from other major centres in the last year over its promised secrecy, including the US and France.
The Swiss Bankers’ Association spokesman, James Nason, said that they don’t believe the German government should accept stolen data, let alone pay for it.
Switzerland expects Germany to stick to the established procedures in international agreements negotiated between the two states for handling such cases, Mr Nason added.
The information on the secret Swiss accounts is being offered to the government for €2.5 million (A$4 million), however could yield €200 million in lost tax revenue for the German government.
Switzerland is known as a tax haven and the nation’s private banking industry has built its creditability upon promising confidentiality.
Swiss banks have come under attack from other major centres in the last year over its promised secrecy, including the US and France.
The Swiss Bankers’ Association spokesman, James Nason, said that they don’t believe the German government should accept stolen data, let alone pay for it.
Switzerland expects Germany to stick to the established procedures in international agreements negotiated between the two states for handling such cases, Mr Nason added.
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