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There is some resistance against the tax deal with Germany, but not with Austria, Altherr explains. The treaty with Germany would be much more far-reaching. The bilateral tax treaty should bring Austria up to € 1.0bn. For Austria, this would mean a loss of tax intake of more than € 1.0bn.
Until the end of September , the opponents of the tax deal between Switzerland and Austria have to collect 50,000 signatures of Swiss citizens. At the moment, there are 25,000 signatures. After the German federal state North-Rhine Westphalia has bought a CD from UBS, the opponents hope to motivate the Swiss people for voting against the deal. The opponents fear that Switzerland may give up its bank secret and its tax sovereignty.
A popular vote would take place on November 25. Otherwise the deal with Austria would enter into force in 2013. The citizens movement and the young socialists do not only criticize the tax deal with Austria, but also those with Germany and the U.K. Swiss political scientists do not excluded that the tax deal with the U.K. and Germany may be rejected, but that with Austria may be approved. Unlike German authorities, Austrian authorities do not buy CDs containing data of domestic tax evaders.
Altherr thinks that the Swiss financial hub may be weakened in the short therm. However, this may be an advantage in the long term. “What is crucial is that we underline our competence and our services, but not the legal loopholes.”
The Swiss Parliament´s President Hans Altherr thinks that the Swiss tax deal with Austria will withstand a popular vote.
Altherr expresses his optimism regarding the tax treaty between Switzerland and Austria in an interview with “Vorarlberger Nachrichten”. The treaty is signed and ratified, but a popular vote may still prevent the deal. In Switzerland, the young socialists and a citizens forum want to hold a popular vote on the tax treaty.There is some resistance against the tax deal with Germany, but not with Austria, Altherr explains. The treaty with Germany would be much more far-reaching. The bilateral tax treaty should bring Austria up to € 1.0bn. For Austria, this would mean a loss of tax intake of more than € 1.0bn.
Until the end of September , the opponents of the tax deal between Switzerland and Austria have to collect 50,000 signatures of Swiss citizens. At the moment, there are 25,000 signatures. After the German federal state North-Rhine Westphalia has bought a CD from UBS, the opponents hope to motivate the Swiss people for voting against the deal. The opponents fear that Switzerland may give up its bank secret and its tax sovereignty.
A popular vote would take place on November 25. Otherwise the deal with Austria would enter into force in 2013. The citizens movement and the young socialists do not only criticize the tax deal with Austria, but also those with Germany and the U.K. Swiss political scientists do not excluded that the tax deal with the U.K. and Germany may be rejected, but that with Austria may be approved. Unlike German authorities, Austrian authorities do not buy CDs containing data of domestic tax evaders.
Altherr thinks that the Swiss financial hub may be weakened in the short therm. However, this may be an advantage in the long term. “What is crucial is that we underline our competence and our services, but not the legal loopholes.”
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