BERN, SWITZERLAND – The Swiss government formally adopted the Fatca tax agreement with the United States Wednesday morning, publishing at the same time the results of its consultation (French, German) with interested parties within Switzerland. Background, GenevaLunch, Fatca The statement from Bern, in full: “Both the Fatca agreement between Switzerland and the United States that [...]
French budget minister resigns on Swiss account probe
March 20, 2013 by
GENEVA, SWITZERLAND – French budget minister Jerome Cahuzac announced his resignation Tuesday 19 March following the launch of an investigation into an allegedly undeclared Swiss bank account. The minister, who lead the Socialist government’s campaign against tax evasion, proclaimed his innocence after an investigative news website, Mediapart, claimed that he had held an account at [...]
US-Switzerland sign controversial Fatca agreement (update)
February 14, 2013 by
Bern says signing seen as “positive signal” by the US for sorting out past banking problems BERN, SWITZERLAND – Switzerland and the United States signed the Fatca tax accord in Bern Thursday morning 14 February, a day after the Federal Council gave the green light for State Secretary Michael Ambuehl to do so. “Initialled on [...]
Lower interest rates help Swiss federal budget end 2012 in black
February 13, 2013 by
Debt as % of GDP falls again thanks to ceiling, economic growth BERN, SWITZERLAND – The Swiss federal government confirmed Wednesday 13 February that it ended 2012 with a budget surplus of CHF1.4 billion thanks to lower interest rate expenditures and cost-cutting. The plan called for a balanced budget. The surplus was achieved despite lower [...]
US politicians settle their “fiscal cliff” differences
January 2, 2013 by
GENEVA, SWITZERLAND – In the end they did it: US politicians late Tuesday 1 January agreed on a compromise package that avoided massive spending cuts and tax increases, in a 257-167 vote in the House of Representatives. The long drawn out dispute over ‘the fiscal cliff” the country was heading for drew tough battle lines between [...]
Swiss loved by everyone but the media, studies show
December 20, 2012 by
BERN, SWITZERLAND – Switzerland’s image abroad is both terrific and terrible, data gathered by Presence Switzerland shows. For the second year in a row foreign media lambasted the country, mainly over financial matters, while Switzerland otherwise remained popular and well-liked by the public at large, with stability and neutrality viewed as positive factors. The image [...]
UBS German clients’ homes reportedly raided
November 12, 2012 by
ZURICH, SWITZERLAND – The public prosecutor’s office in Bochum, Germany, said Monday that the homes of a number of clients of Swiss bank UBS have been raided by tax investigators who suspect them of tax evasion or fraud. The search for documents is the result of a number of legal cases brought in two German [...]
US presidential election: overseas Americans band together to demand rights (update)
September 7, 2012 by
Report on abuses sent to all members of Congress, Obama administration Update: The report is available online on the web site of The Americans in Switzerland Working Group Update 11:50 GENEVA, SWITZERLAND – A new report by several American citizen organizations outside the US is being used to give overseas citizens a voice in the [...]
Public finances at all levels show “solid surpluses” as of 2013
August 31, 2012 by
BERN, SWITZERLAND – Swiss public finances at the federal, cantonal and communal levels will show “solid surpluses” as of 2013, Bern said 30 August. Surpluses that fell in 2010 when GDP growth slipped to 0.2 percent, improved in 2011, but lower expenditures than expected and a better economic picture now show that the federal and [...]
