TaxCorporate TaxResolution of Swiss tax dispute draws nearer

Resolution of Swiss tax dispute draws nearer

The twelve month deadlock between the European Commission and Swiss tax authorities looks set to reach a compromise deal.

Link: EC clamps down on tax evasion

The long-standing problems concern the opening up of the Berne banking system in order to cut down on tax evasion and fraud. The UK government has been extremely vocal in the argument and Gordon Brown is expected to continue this trend at a meeting of EU finance ministers next week.

It is the last scheduled meeting before the December deadline for an agreement on savings taxation.

The compromise would mean that Berne will levy a withholding tax of up to 35% on EU residents savings held in Swiss bank accounts, reports the Financial Times.

Over two-thirds of the proceedings would then go to the EU state where the saver resides. The Swiss will keep the rest.

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

2m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson