Monday, June 15, 2009

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Banking Secrecy and secret ballot

believe that the European elections of June 4 to 7, sealed by the same forbearance, n 'will have no impact on the folder trapped taxation between Switzerland and the EU would be a grave mistake.

Hunting banking secrecy and tax havens is one of the few themes to electoral recipe in the twenty-seven EU countries. This is not the result of a survey, although it would be helpful on this subject, the results of an opinion poll reliable kind Eurobarometer. I wish this statement at least a dozen MEPs, all political groups, busy these days to somehow convince their constituents demobilized. Surprising indeed: the subject, high-profile, has finally been accepted from Brussels to Bucharest. Advantage: it is explained and summarized easily. Much more easily in all cases than the average European subjects whose complexity discourages ordinary citizens. Not without risk of caricature.

Those who, these days in Brussels and Berne, explain looks good confident that the storm G20 is behind us, and what happens in Strasbourg - the European parliament who no fiscal powers - counts for nothing or almost, would do well to monitor what comes out of the secret ballot. is said already, in the Belgian capital, the next European Commissioner for Taxation, ext hitherto little appreciated, will be knighted by the large country and show his toughness against uncooperative, or too slow to cooperate according to EU criteria.

It is also expected in case of rise of the extreme Left and the Greens, that the future president of the European Commission, which should be endorsed at the first meeting Parliament on July 15, must make commitments on the issue before the European parliament. So many awkward moments to come to Switzerland, whose efforts to accelerate the necessary renegotiation of double taxation agreements are likely to stumble on the schedule imposed by the G20. A further meeting of Finance ministers of the group is discussed for September. A new high level of heads of state, is planned for November. The Federal Department of Finance, who confirmed this weekend having completed two agreements without identifying the countries (Denmark and Luxembourg are discussed) more than food on the plate.

Car response may not only be to reach the number "magic" of the twelve conventions required by the OECD. It will also go into politics. It is already known, for example, that the adoption promised by Belgium of the automatic exchange of information on tax on 1 January 2010 - and the abandonment of its contiguous banking secrecy for non-residents - will be a boon for critics of all stripes Swiss practices. Preparedness is therefore essential. European elections require a reflection on the overall architecture bilateral during the 2009-2014 term.

We also know that the inauguration of the new European Parliament will be in a Swedish Presidency of the EU makes no secret of his intransigence tax. At Economic Forum in Brussels on 14 and 15 May, the official program of the Commission presented the Swedish Finance Minister Anders Borg as "iron man" determined to make his mark. Station, finally, the surprises came from other states or jurisdictions targeted by the third-greylist OECD. The skill which gave evidence for Jersey and Guernsey sign tax treaties of the number required before the G20, 2 April in London could well be emulated in other forms. The European Commission is much talk these days, with Monaco and Andorra. Which draw some of their ideas in Liechtenstein, whose government is doing its best to meet EU requirements.

Bern, rightly, will not fail to say much more than these micro-states, others must act and show "white leg" as Singapore, Hong Kong or Macao, which the least that the we can say is that they seem in no hurry. But anyway: Monaco and Andorra bleached. Liechtenstein became a "good student". The Luxembourg busy knitting alliances within the EU. It is September 2009. Switzerland'm negotiating very hard, it remains isolated. Such a scenario rimerait indeed with "danger."

Richard Werly, Time

(Source "The Times": http://www.letemps.ch/Page/Uuid/1dd8b7ec-48f1-11de-9896-a800b234788e/Secret_bancaire_et_secret_des_urnes )

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