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S U B S C R I B E
WRS stories about tax. banks
'World has changed' as Lex-USA bank deal looms
Monday, 17 June, 2013
Last week, the Council of States voted in favour of Lex USA—a deal for Swiss banks suspected by Washington of helping U.S. citizens avoid paying tax. And you might have thought that was the end of the matter. But in fact the draft bill is only half-way home as it needs the green light from the National Council, which will tackle the question tomorrow. But whatever the outcome of those discussions, it’s been an “annus horribilis” for the industry. WRS’s Daniel Johnson gets reaction from those for and against the deal:
Monday, 17 June, 2013
Last week, the Council of States voted in favour of Lex USA—a deal for Swiss banks suspected by Washington of helping U.S. citizens avoid paying tax. And you might have thought that was the end of the matter. But in fact the draft bill is only half-way home as it needs the green light from the National Council, which will tackle the question tomorrow. But whatever the outcome of those discussions, it’s been an “annus horribilis” for the industry. WRS’s Daniel Johnson gets reaction from those for and against the deal:
SNB warns it won't bail out banks
Tuesday, 4 June, 2013
As Parliament began debating the government’s proposals yesterday, the head of the Swiss National Bank said it wouldn’t jump to the rescue of any bank which came across financial difficulties as a result of future settlements. In addition, the Swiss Association of Asset Managers has accused Swiss banks of being willing to denounce independent asset managers, financial advisers and lawyers in a bid to avoid criminal investigations themselves. Reporter Michael Hollingdale spoke to economist and commentator Beat Kappeler and asked him if the National Bank chief had been right to rule out intervention:
Tuesday, 4 June, 2013
As Parliament began debating the government’s proposals yesterday, the head of the Swiss National Bank said it wouldn’t jump to the rescue of any bank which came across financial difficulties as a result of future settlements. In addition, the Swiss Association of Asset Managers has accused Swiss banks of being willing to denounce independent asset managers, financial advisers and lawyers in a bid to avoid criminal investigations themselves. Reporter Michael Hollingdale spoke to economist and commentator Beat Kappeler and asked him if the National Bank chief had been right to rule out intervention:
U.S.-Swiss tax 'settlement was inevitable'
Thursday, 30 May, 2013
The Swiss government says it has agreed a legal basis to allow the country’s banks to settle investigations by the US authorities as far as their role in helping American citizens evade billions of dollars of tax. It’s hoped that a final agreement will draw a line under a controversy that has damaged U.S.-Swiss relations for a number of years. Reporter Michael Hollingdale has this report:
Thursday, 30 May, 2013
The Swiss government says it has agreed a legal basis to allow the country’s banks to settle investigations by the US authorities as far as their role in helping American citizens evade billions of dollars of tax. It’s hoped that a final agreement will draw a line under a controversy that has damaged U.S.-Swiss relations for a number of years. Reporter Michael Hollingdale has this report:
EU and Swiss play chess on info exchange
Thursday, 23 May, 2013
EU leaders have concluded talks in Brussels aimed at tightening tax rules. The 27 want to tackle tax avoidance and to limit banking secrecy. They’re also pushing for global standards on exchanging bank account information. Luxemburg and Austria, famous for their banking secrecy, accepted the idea of authorities exchanging data on private income but they want to be sure that Switzerland doesn’t have an unfair advantage. Richard Werly, Brussels correspondent for the newspaper Le Temps talks to WRS’s Dave Goodman:
Thursday, 23 May, 2013
EU leaders have concluded talks in Brussels aimed at tightening tax rules. The 27 want to tackle tax avoidance and to limit banking secrecy. They’re also pushing for global standards on exchanging bank account information. Luxemburg and Austria, famous for their banking secrecy, accepted the idea of authorities exchanging data on private income but they want to be sure that Switzerland doesn’t have an unfair advantage. Richard Werly, Brussels correspondent for the newspaper Le Temps talks to WRS’s Dave Goodman:
Swiss "forced" to talk tax info exchange with EU
Tuesday, 14 May, 2013
European Union finance ministers approved the mandate to negotiate a new agreement on taxation of savings with Switzerland, including automatic exchange of information. This in an effort to fight tax evasion. WRS’s Alex Helmick talked to Le Temps correspondent Richard Werly from Brussels where the EU finance ministers meeting took place:
Tuesday, 14 May, 2013
European Union finance ministers approved the mandate to negotiate a new agreement on taxation of savings with Switzerland, including automatic exchange of information. This in an effort to fight tax evasion. WRS’s Alex Helmick talked to Le Temps correspondent Richard Werly from Brussels where the EU finance ministers meeting took place:
Dealing with the FATCA tax axe
Tuesday, 14 May, 2013
Last month, the Swiss government formally endorsed a bilateral agreement, signed in February with the United States, adopting the Foreign Account Compliance Act, requiring Swiss financial institutions to disclose accounts held by U.S. persons to American tax authorities. Tonight in Geneva American Citizens Abroad are holding a town hall meeting to explain the implications of the new laws to Americans living in the city. Jonathan Lachovitz, owner of White Lighthouse Management in Lausanne, is a speaker at tonight’s talk taking place at Webster University in Geneva. WRS’s Pete Forster talks to him:
Tuesday, 14 May, 2013
Last month, the Swiss government formally endorsed a bilateral agreement, signed in February with the United States, adopting the Foreign Account Compliance Act, requiring Swiss financial institutions to disclose accounts held by U.S. persons to American tax authorities. Tonight in Geneva American Citizens Abroad are holding a town hall meeting to explain the implications of the new laws to Americans living in the city. Jonathan Lachovitz, owner of White Lighthouse Management in Lausanne, is a speaker at tonight’s talk taking place at Webster University in Geneva. WRS’s Pete Forster talks to him:
Swiss face EU in banking secrecy battle
Tuesday, 30 April, 2013
There has been a long running battle for Switzerland’s banking future, with sides vying to either save and forever protect banking secrecy, or submit to automatic data exchange regimes with other countries. Switzerland hoped individual tax deals would help preserve secrecy, and it has had some success with the UK and long time banking secrecy ally Austria. But a deal in Germany was scuttled last year as electoral tensions heated up, and Austria has now shifted its position leaving Switzerland standing alone against the EU. WRS’s Tony Ganzer reports:
Tuesday, 30 April, 2013
There has been a long running battle for Switzerland’s banking future, with sides vying to either save and forever protect banking secrecy, or submit to automatic data exchange regimes with other countries. Switzerland hoped individual tax deals would help preserve secrecy, and it has had some success with the UK and long time banking secrecy ally Austria. But a deal in Germany was scuttled last year as electoral tensions heated up, and Austria has now shifted its position leaving Switzerland standing alone against the EU. WRS’s Tony Ganzer reports:
Bumpy road from banking secrecy
Friday, 5 April, 2013
“Switzerland is no longer a tax haven.” Those words are on the lips of more and more analysts these days, and recent events seem to bear them out: the lid blew on the secret UBS account of France’s tax dodging budget minister recently, and the offshore leaks that hit the headlines yesterday showed Swiss lawyers are opening accounts offshore, not here. All grist to the mill for those who want automatic exchange of information, but banking secrecy still has its champions. WRS’s Lucas Chambers reports:
Friday, 5 April, 2013
“Switzerland is no longer a tax haven.” Those words are on the lips of more and more analysts these days, and recent events seem to bear them out: the lid blew on the secret UBS account of France’s tax dodging budget minister recently, and the offshore leaks that hit the headlines yesterday showed Swiss lawyers are opening accounts offshore, not here. All grist to the mill for those who want automatic exchange of information, but banking secrecy still has its champions. WRS’s Lucas Chambers reports:
Swiss wishful thinking for U.S. tax deal?
Tuesday, 26 March, 2013
Could Switzerland’s hopes of sealing one kind of tax deal which would apply to all countries and all Swiss banks—be over? An unconfirmed report in the Neue Zürcher Zeitung am Sonntag claimed individual Swiss banks might eventually deal with the United States directly. WRS’s Tony Ganzer spoke with University of Bern business law professor Peter Kunz:
Tuesday, 26 March, 2013
Could Switzerland’s hopes of sealing one kind of tax deal which would apply to all countries and all Swiss banks—be over? An unconfirmed report in the Neue Zürcher Zeitung am Sonntag claimed individual Swiss banks might eventually deal with the United States directly. WRS’s Tony Ganzer spoke with University of Bern business law professor Peter Kunz:
Wegelin case implicates all Swiss banks
Friday, 4 January, 2013
Switzerland’s oldest bank is finished. St Gallen-based Wegelin has pleaded guilty in a U.S. court to helping Americans avoid paying taxes. The bank agreed to pay more than 50 million francs in fines and it will close permanently after 272 years in service. WRS’s Alex Helmick talks to BBC reporter Imogen Foulkes:
Friday, 4 January, 2013
Switzerland’s oldest bank is finished. St Gallen-based Wegelin has pleaded guilty in a U.S. court to helping Americans avoid paying taxes. The bank agreed to pay more than 50 million francs in fines and it will close permanently after 272 years in service. WRS’s Alex Helmick talks to BBC reporter Imogen Foulkes:
Status quo to continue as tax deal with Germany fails
Thursday, 13 December, 2012
The Rubik agreement is dead. That’s the news coming out of Berlin this morning as the commission set up to reconcile the two houses of the German Parliament declared deadlock. The Social Democratic party and the Greens refused to budge, saying the Rubik agreement , which would have seen Swiss banks contribute several billions of euros to German governments in return for keeping clients’ details secret, was unfair. For reaction to the news WRS’s Pete Forster spoke to Sindy Schmiegel of the Swiss Bankers Association:
Thursday, 13 December, 2012
The Rubik agreement is dead. That’s the news coming out of Berlin this morning as the commission set up to reconcile the two houses of the German Parliament declared deadlock. The Social Democratic party and the Greens refused to budge, saying the Rubik agreement , which would have seen Swiss banks contribute several billions of euros to German governments in return for keeping clients’ details secret, was unfair. For reaction to the news WRS’s Pete Forster spoke to Sindy Schmiegel of the Swiss Bankers Association:
'End of the dream' for doing a tax deal with EU
Monday, 26 November, 2012
On Friday the upper house of the German Parliament, the Bundesrat, rejected a tax deal with Swiss banks. Switzerland has signed similar deals with Britain and Austria and is in talks to do the same with Italy and Greece. But is the German vote likely to have an impact on these deals? Swiss tax lawyer Philippe Kenel talks to WRS’s Pete Forster:
Monday, 26 November, 2012
On Friday the upper house of the German Parliament, the Bundesrat, rejected a tax deal with Swiss banks. Switzerland has signed similar deals with Britain and Austria and is in talks to do the same with Italy and Greece. But is the German vote likely to have an impact on these deals? Swiss tax lawyer Philippe Kenel talks to WRS’s Pete Forster:
German prosecutors raid UBS clients
Tuesday, 13 November, 2012
German tax inspectors launched nationwide raids on Monday against German clients of Swiss bank UBS. The state prosecutor in the west German city of Bochum, Bernd Bieniossek, said the searches of both private homes and companies targeted several hundred of the bank‘s clients suspected of evading taxes. The raids are reportedly based on information contained on a CD which officials in the state of North Rhine Westphalia purchased three months ago. Bochum is located in North Rhine Westphalia. The move comes less than a fortnight before German Parliament’s chamber of states is set to vote on a Swiss tax deal. So do the raids make a deal even less likely? WRS’s Vincent Landon spoke to Terry Martin, political correspondent at Deutsche Welle:
Tuesday, 13 November, 2012
German tax inspectors launched nationwide raids on Monday against German clients of Swiss bank UBS. The state prosecutor in the west German city of Bochum, Bernd Bieniossek, said the searches of both private homes and companies targeted several hundred of the bank‘s clients suspected of evading taxes. The raids are reportedly based on information contained on a CD which officials in the state of North Rhine Westphalia purchased three months ago. Bochum is located in North Rhine Westphalia. The move comes less than a fortnight before German Parliament’s chamber of states is set to vote on a Swiss tax deal. So do the raids make a deal even less likely? WRS’s Vincent Landon spoke to Terry Martin, political correspondent at Deutsche Welle:
Dateline CH: What makes bankers different from the rest of us
Thursday, 13 September, 2012
The BBC’s Imogen Foulkes takes a look at what she thinks makes bankers different…from the rest of us:
Thursday, 13 September, 2012
The BBC’s Imogen Foulkes takes a look at what she thinks makes bankers different…from the rest of us:
