'Milestone' tax deal with Germany—or a step backwards?Thursday, 28 October, 2010
Finance Minister Hans-Rudolf Merz proudly left office having signed deals on taxation and banking secrecy with both the UK and Germany. Merz’s German counterpart Wolfgang Schäuble came to Bern yesterday, one day ahead of schedule, to sign a double taxation agreement and a joint declaration on the initiation of negotiations on tax issues similar to the UK deal which emerged earlier this week. The idea is to preserve the anonymity of bank customers from those countries, but while making them pay a withholding tax. WRS’s Vincent Landon has the story.
Meanwhile the Tax Justice Network—an NGO campaigning for a fairer global tax system—is horrified. Conor Lennon called on the organisation’s John Christensen for his reaction: