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German-Swiss double taxation plans |
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18.10.10 13:47 |
Germany and Switzerland are in the process of establishing a double taxation agreement, including an agreement on the one-off taxation of the stock of undeclared wealth (and related income) accumulated by German tax evaders in Switzerland in previous years, FAZ reported. While the discussions are still held by a bilateral ministerial working group, it seems likely that official negotiations will be agreed upon in the coming months. A double taxation agreement is widely believed to yield additional tax revenues for the German government to the tune of several billion euro per annum and a one-off tax revenue from the stock of previously undeclared income and wealth of up to EUR30bn.
Frank Engels wrote in a Barclays Capital Research report.
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