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Tax Deal Fiercely Criticized

Published: April 16, 2012; 19:03 · (Vindobona)

Last week, Austria concluded a tax treaty with Switzerland. For experts, the deal does not solve the main problems.

Tax Deal Fiercely Criticized / Picture: © Flickr

Last week, Austria´s Finance Minister Fekter signed the tax treaty with her Swiss colleague Eveline Widmer-Schlumpf.. It is expected that Austrians have assets worth € 12bn to € 25bn in Switzerland. According to Swiss estimations, assets held by Austrians could be worth up to € 50bn. The Swiss financial service supplier Helvea says that 90% of these funds are still…

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