Arab Today, arab today swiss transfer millions to uk austria in tax deal
Last Updated : GMT 15:30:01
Arab Today, arab today
Arab Today, arab today

Swiss transfer millions to UK, Austria in tax deal

Arab Today, arab today

Arab Today, arab today Swiss transfer millions to UK, Austria in tax deal

Geneva - AFP

Switzerland said on Thursday it had paid Britain and Austria hundreds of millions of Swiss francs under a deal to settle past tax-dodging by their citizens. The Swiss finance ministry said that Britain had received a payment of 372 million francs ($331 million, 310 million euros), and Austria, 515 million. The money was paid on behalf of accounts which the owners did not want to reveal to their own tax authorities. The ministry also revealed that 15,000 British clients and 13,500 Austrians -- with combined holdings of 12.8 billion Swiss francs -- had opted to come clean to their own countries\' authorities. A ministry spokesman said the payments were just the first in a series of monthly instalments running until June 2014. With the financial crisis having put Switzerland under mounting pressure to lift its trademark banking secrecy, the country has opted to give ground in some areas in order to defend the overall principle of discretion. Under bilateral deals with Britain and Austria, Switzerland has offered two options to people who fail to declare in their home countries money placed in Swiss banks. They can either turn themselves in to their homeland\'s revenue services, or have their accounts taxed by the Swiss, who then transfer the funds without naming the clients. It was under the latter system that Switzerland handed over the sums revealed on Thursday. The ministry said that the results of the deal showed that it could achieve its goal of having a financial sector that met tax requirements, while the Swiss bankers\' association said the figures for those who turned themselves in were in line with forecasts. Similar deals are being negotiated with Italy and Greece. Such accords are specifically related to past wrongdoing, and are separate from another deal under which Switzerland taxes European citizens\' accounts and transfers the money to the individual\'s homeland.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss transfer millions to uk austria in tax deal Arab Today, arab today swiss transfer millions to uk austria in tax deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss transfer millions to uk austria in tax deal Arab Today, arab today swiss transfer millions to uk austria in tax deal

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday