| Swiss minister in secrecy challenge |
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| Wednesday, 19 March 2008 | |
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Page 2 of 2 “One thing I can tell you now: you will break your teeth on the Swiss banking secret as it is not open to debate. At the same time, however, we will take all necessary measure to further enhance the integrity of the Swiss financial system. In this respect Switzerland will also initiate and continue international cooperation where necessary,” Merz said.He called it unacceptable that certain foreign authorities had mounted a media campaign against Switzerland, portraying the country as a tax oasis that had to be laid dry, without seeking direct communication. “The truth is that in Switzerland all individuals and legal entities pay tax according to the law, that our rules and legislation comply with international standards, that we are bound by international agreements including a gradual increase in the amount of withholding tax on interest yields for EU taxpayers,” Merz concluded Related articles
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