Switzerland and Germany still intend to ratify the tax agreement

09.04.2012

The tax scandal between Switzerland and Germany, about which we wrote earlier, didn't manage to cease as these countries report about new events. This time it was without "dismantlings", on the contrary, the parties aspire to find a common ground with the European Commission position concerning the taxation of percent. On April 5, 2012, the countries signed the additional Protocol to the tax agreement from September 21, 2011, which excludes the percentage income from under agreement action. This type of income will be taxed according to the instruction of EU on the taxation of the income of savings.

The most important points, designated in the protocol, are: first, German tax authorities can increase the quantity of queries from 999 to 1300 within two years. Secondly, German holders of accounts in Switzerland now can't move their assets from Switzerland without notice of the German government. This norm will operate, since May 31, 2013, till January 1, 2103.

There are all bases to believe that the agreement together with the Protocol will be ratified soon and will come into force since January 1, 2013. 

Expert’s opinion

«The signed protocol to the tax agreement, first of all, will establish equalities between German taxpayers, regardless in Switzerland or Germany there is their condition. Apparently, this document is urged to put an end in case of the stolen compact discs with bank data. Berlin, at last, will stop to buy such information, and Bern, respectively, won't pursue.»

On the basis: www.admin.ch

Lomakina Irina ( the director of Moscow office of Honest & Bright )