The court of Switzerland refused to inform IRS

13.04.2012 One of these days in Switzerland the administrative court didn't provide IRS bank data on the American client. The basis of refusal was the tax agreement between the USA and Switzerland of 1996 which says that disclosure of financial information on suspicion in evasion from taxes can be only in case of providing convincing proofs.

The Swiss court noted that the proof of crime commission can’t be the fact that the Swiss bank account wasn't declared in tax authorities of the USA.

Expert’s opinion

«At last the bank secret in Switzerland remained bank secret! The undermined trust of the Swiss banking system should restore as it was many years ago.

Earlier we never faced information leakage from bank institutes of Switzerland, nevertheless, America allowed to undermine this statement. Let's hope, previous situation will return, and nobody can doubt confidentiality and protection of clients interests.»

On the basis: www.bvger.ch

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