Swiss banks part of 77,000 signed with US

ZURICH, SWITZERLAND – The US Treasury Department said Monday that 77,000 banks around the world have signed Fatca agreements under which they agree to supply information about US clients to American tax authorities. Switzerland signed a Fatca (Foreign Assets Tax Compliance Act) accord with the US last August. Forbes said in April that Fatca was […]

Suzi Levine ushers in digital ambassadorial age

US Ambassador Suzi Levine arrives in Bern (photo:: US Embassy)

US ambassador to Switzerland sworn in on e-reader BERN, SWITZERLAND – Suzi Levine officially took up duties as the new US ambassador to Switzerland 1 June, in a swearing-in ceremony in Washington DC where she took the oath of office on an electronic reader. Levine is the first US official to be sworn in on […]

Swiss GDP up .5%, outstrips eurozone

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BERN, SWITZERLAND – Swiss real GDP (gross domestic product) rose by 0.5 percent in the first quarter of 2014 compared to the previous quarter. Bern said in a statement 28 May that “positive contributions to GDP growth came in particular from the balance of trade in goods and services as well as investments in construction. […]

Bulgarian, Romanian work permit restrictions extended

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Croatia funds proposed to parliament BERN, SWITZERLAND – Restrictions on work permits for Bulgarians and Romanians in Switzerland will be extended by two years, the Swiss Federal Council said Wednesday. The new deadline of 31 May 2016 was  adopted under rules that are part of the agreement with the European Union on the addition of […]

French tax dodging: 80% accounts in Swiss accounts

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Group of US Republicans to push for Fatca repeal GENEVA, SWITZERLAND – French Finance Minister Michel Sapin said Wednesday 21 May that 23,000 taxpayers have owned up to undeclared bank accounts since June 2013, and of the 1,260 files dealt with by French tax authorities, 80 percent involved accounts held in Switzerland. Sapin noted Wednesday […]

Finally: the Credit Suisse, US Justice deal is done

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Fine of CHF2.5 billion, Dougan says bank has seen no impact on business ZURICH, SWITZERLAND – Swiss bank Credit Suisse and the US Department of Justice have reached agreement and signed a deal where the bank agrees it helped US clients evade taxes and the US will receive client information from the bank. The bank […]

Swiss 18 May votes: no to minimum wage, Gripen (update)

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Big voting weekend coming up

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GENEVA, SWITZERLAND – If you’re a Swiss voter you have just a couple more days to make up your mind. Here’s what we’re voting on this weekend: Federal – Basic medical care, pedophiles and jobs, minimum wage, Gripen fighter planes Geneva and Lausanne – park +ride financing in France, public transport price cap, “Save Lavaux”. […]

Swiss insurer pays $4.4m in US fines

ZURICH, SWITZERLAND – Zurich-based Swisspartners Group, owned by Liechtensteinische Landesbank, has agreed to pay $4.4 million in fines in the US and admits to helping US clients avoid taxes through private insurance schemes, Nasdaq/Dow Jones reported over the weekend. The parent bank will now resume efforts to sell the insurance firm, after suspending this for […]

Right-winger Blocher quits parliament

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Politician wants to stop wasting time and concentrate on European issues ZURICH, SWITZERLAND – Christoph Blocher, a member of the lower house of parliament and former member of the ruling Federal Council, caught the Swiss political world by surprise Friday, saying he will step down at the end of May to concentrate on European issues. […]