Swiss Tax Treaty: Austria Under Pressure

Politics ♦ Published: March 28, 2012; 11:16 ♦ (Vindobona)

The Austrian Minister of Finance is optimistic to conclude the Swiss tax deal by 2013. Proceeds of € 1.0bn are expected.

Swiss Tax Treaty: Austria Under Pressure / Picture: © SW Umwelttechnik

Austria has stepped up efforts to secure a € 1bn ($ 1.3bn) tax windfall on wealth its citizens have stashed in Switzerland, money it wants to help balance the budget by 2016.

Finance Minister Maria Fekter assured reporters on Tuesday she would reap the rewards of a tax deal with neighbouring Switzerland by next year, but a source familiar with the negotiations said that target…