Switzerland said on Wednesday it would not help Germany hunt tax cheats on the basis of stolen Swiss bank data but hoped to finalise a new tax deal with Berlin by the end of March.
Germany has said it is prepared to pay an informant for data on clients of Swiss banks who may have been using secret accounts to evade German taxes, a new blow to Switzerland’s massive private banking industry.
“Germany is Switzerland’s most important trade partner…. With this in mind, the Federal Council wishes to resolve the problem of the stolen data which has been offered for sale to the German authorities,” the government said in a statement.
“It wants to pursue talks with Germany. Nonetheless, it will not provide administrative assistance based on stolen data, even to Germany.”
Switzerland moved to calm the sharply escalating row with its northern neighbour a day after the Swiss banking lobby said Berlin was acting as a receiver of stolen goods.
Swiss Finance Minister Hans-Rudolf Merz told a news conference he hoped talks with Germany on a new tax deal to help Berlin catch tax evaders in Switzerland would be wrapped up by the end of March.
Germany had already paid for stolen data in 2008 when it purchased information stolen from Liechtenstein’s top bank LGT, forcing the tiny principality to give up bank secrecy rules.
via UPDATE 1-Swiss seek solution to German bank data spat | Reuters.
