Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

German region to pay for tax dodger data in Switzerland

Share this article

10:32 CET+01:00

Tax authorities in a western region in Germany are planning to buy data on German clients suspected of tax evasion in a Swiss bank, a report by the Financial Times Deutschland to be published on Thursday said.

Authorities in North Rhine-Westphalia are to buy a CD with data concerning around 1,000 German clients of the private Couts Bank, a subsidiary of the Royal Bank of Scotland.

It will be the first time German authorities will buy data on suspected tax cheats since Berlin and Bern signed a deal on double taxation in August that will come into force in 2013 and could net billions of euros for German tax coffers.

The accord aims to close a dispute between the two neighbours that blew up into a major spat in 2010 when German authorities raided branches of Credit Suisse bank in 13 German cities after buying data on suspected tax dodgers.

Switzerland reacted angrily, saying the data -- bought for a reported €2.5 million -- was stolen in violation of its banking secrecy laws.

According to German media, between €130 and €180 billion in German assets are hidden in Switzerland.

Get notified about breaking news on The Local

Share this article

Advertisement
Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement