Austria and Switzerland Signed Tax Treaty

Politics ♦ Published: April 14, 2012; 11:42 ♦ (Vindobona)

Austria´s Finance Minister Fekter signed the tax treaty with her Swiss colleague Eveline Widmer-Schlumpf. In 2013, additional tax intake of € 1.0bn is expected.

Austria and Switzerland Signed Tax Treaty / Picture: ©

Switzerland and Austria reached an agreement to end a dispute over tax evasion by wealthy Austrians holding offshore accounts with Swiss private banks. Assets will be taxed at a rate from 15% to 38%, which depends on the amount and the duration of the client relationship. It is expected that Austrians have assets worth € 12bn to € 25bn in Switzerland. Moreover, future capital gains…