Switzerland Ratifies Tax Treaty with Austria

Politics ♦ Published: May 30, 2012; 20:13 ♦ (Vindobona)

The Swiss National Council approved the tax deal with Austria. Illegal funds of Austrian nationals in Switzerland will be taxed.

Switzerland Ratifies Tax Treaty with Austria / Picture: © Vindobona.org

In April, Switzerland and Austria agreed on a common tax treaty to prevent tax evasion by Austrian nationals holding accounts with Swiss banks. Austria´s Finance Minister Fekter signed the tax treaty with her Swiss colleague Eveline Widmer-Schlumpf a few weeks ago. For Widmer-Schlumpf, the treaty is crucial for the Swiss financial centre. “We do not want to have illegal assets at…