Tax agreement between Greece and Switzerland is being discussed now

31.10.2011 Recently the officials of Greece and Switzerland have discussed the issue on signing an agreement in tax sphere. This document contains provisions that regulate the placement of assets by residents of Greece in Swiss banks. Switzerland has already concluded such agreements with Germany and UK covering the issues on bank deposits retrospective taxation and establishment of the tax at source on future investment income.

The officials of both states have declared that they were ready to continue the negotiations in order to sign the agreement in coming weeks.

Specialists name the amount of 200 bln. euro that is deposited in Swiss banks by Greek investors.

Expert’s opinion

“Agreements in tax sphere help the states to establish new economic links and strengthen the existing ones. Now Greece especially needs such interstate connections. The regulation of Greek bank deposits in Swiss banks taxation can help further significantly to solve the problem of Greece budget deficit”.

On the basis: www.tax-news.com

Vorontsova Maria ( the lawyer of international consulting department of Honest & Bright )