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  1. Wealth
June 15, 2009

Switz. signs tax treaty with France in greylist progress

By Spear's

Switzerland has signed a double taxation agreement with France, the Ministry of Finance announced in a statement on Friday. The agreement meets the OECD standards on transparency and exchange of tax information.

Switzerland has signed a double taxation agreement with France, the Ministry of Finance announced in a statement on Friday. The agreement meets the OECD standards on transparency and exchange of tax information.

The agreement was signed on Thursday, following a meeting of French Budget Minister Eric Woerth with Swiss president and Finance Minister Hans-Rudolf Merz in Bern.

The Taxation of Savings Income Agreement concluded between Switzerland and the EU was also discussed, and Merz reiterated the willingness of the Federal Council to retain the co-existence model and to reject the automatic exchange of information.

Switzerland has been following a policy of relaxation on issues of banking secrecy from this March. It has already signed double taxation agreements with Norway Denmark, and a third country, and hopes to conclude another 12 by the end of the year, the threshold recommended by the OECD to escape its ‘grey’ list of tax havens.

For further details, visit thewealthnet

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