topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2119.44 0.28
DAX 6339.94 0.38
IBEX 30 6543 0.13
CAC 40 3047.94 0.32
FTSE 100 5351.53 0.03
AEX 292.76 0.23
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13154.8 0.36
TSX Composite 11576.47 0.09
ASX 4081.2 -0.61
Hang seng 18713.41 0.25
Straits Times 2772.75 -0.24
ISEQ 20 500.94 1.55
You are here: Home News Swiss News Swiss ask OECD about G20 tax list

Swiss News

archive
Enlarge font Decrease font Text size


01/05/2009Swiss ask OECD about G20 tax list

Merz asks the Organisation for Economic Cooperation and Development to explain how the tax “greylist” was developed.

ZURICH - Switzerland revealed Wednesday that it was formally calling on the OECD to explain why some of the Group of 20 economies were not included on a list that formed the basis for an international crackdown on tax evasion.

In a letter to OECD Secretary General Angel Gurria, President and Finance Minister Hans-Rudolf Merz repeated Swiss complaints about the "non-transparent, arbitrary and exclusive" way the organisation developed the list.

But he also called on the Organisation for Economic Cooperation and Development to ensure that tax information exchange agreements countries sign to meet OECD standards are effective.

The Swiss government moved to ease banking secrecy in March by seeking selective exchange of information with foreign countries following months of international pressure caused by the financial crisis.

Switzerland was placed on the "grey" section of the OECD's list, among about 40 financial centres that "have committed to the internationally agreed tax standard, but have not yet substantially implemented" it.

In the letter sent Tuesday, Merz asked Gurria to reveal what criteria was used in considering all the countries and whether the OECD would "take into account the quality and timeliness of the exchanged information."

"Why are certain members of the G20 not included? Has the OECD examined the level of tax cooperation in tax matters of these countries?" he wrote, among other questions.

"The key issue is how such cooperation is implemented and monitored," Merz said in the letter released by his ministry. "There must be a level playing field for all jurisdictions concerned."

Copies of the letter were also sent to British Chancellor of the Exchequer Alistair Darling and the chairman of the Financial Stability Board, Italian central bank governor Mario Draghi.

AFP / Expatica


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Finding your way in Switzerland

Trekking and Backpacking

Community Noticeboard Switzerland

Let's coach..Saturday.Free.In English.

Finding your way in Switzerland

Chinese Nanny (Ayi) wanted

Finding your way in Switzerland

Need Househelp who prepares Thai food

Student forum Switzerland

@SAP Business Objects Online Training in Netherlands by SAP BOSS

participate in the forums

Inside Expatica
Residence and work permits in Switzerland

Residence and work permits in Switzerland

How to apply for a residency or work permit in Switzerland for you and your family.

How to rent and buy a house in Switzerland

How to rent and buy a house in Switzerland

Information about renting property and obtaining a mortgage in Switzerland.

Switzerland's healthcare system

Switzerland's healthcare system

Information about the Swiss healthcare system, health insurance, pharmacies and emergency numbers.

Banking in Switzerland

Banking in Switzerland

Explaining Swiss currency, banknotes, credit cards and bureaux de change.