Austrian Tax Deal with Switzerland Wobbles

PoliticsDomestic ♦ Published: September 25, 2012; 21:49 ♦ (Vindobona)

The citizens´ movement in Switzerland has collected enough signatures in order to hold a popular vote on the tax deal with Austria.

Austrian Tax Deal with Switzerland Wobbles / Picture: © Swiss and Austrian crossed flags by Vindobona

In April, Switzerland and Austria agreed on a common tax treaty to prevent tax evasion by Austrian nationals holding accounts with Swiss banks. For the Swiss Finance Minister Widmer-Schlumpf, the treaty is crucial for the Swiss financial centre. “We do not want to have illegal assets at Swiss banks anymore.” It is expected that Austrians have assets worth € 12bn to € 25bn in…