Thousands of so-called "politically exposed persons", or PEPs - a category that includes heads of state and other top officials - hold Swiss bank accounts, a Swiss foreign ministry official said yesterday (24 August).
Luxembourg agreed on Tuesday (14 October) to end its bank secrecy rules from 2017, yielding to a decade of pressure from Germany and the United States, marking a breakthrough in global efforts to reduce tax evasion.
Switzerland must adopt a position on sharing bank client data with foreign tax authorities more quickly than originally thought and cannot hold back until all other countries have introduced the practice, its finance minister told a Swiss newspaper.
A newly published report on a corrupt deal for the repayment of the Angola debt to Russia in the early 1990s was presented in the European Parliament yesterday (23 April) as a vivid example of the plundering that can take place in developing nations with the complicity of European banks and tax havens.
A Greek journalist who published the names of more than 2,000 of his compatriots who held Swiss bank accounts was acquitted on Thursday (1 November) in a case that touched a nerve over the role of tax evasion in the country's debt crisis.
After striking deals with Germany and the UK to make clients in those countries pay a levy on their secret accounts held with Swiss banks, Switzerland is now negotiating other bilateral agreements in response to pressure from EU countries to crack down on tax evasion.
The need for fast, accurate and balanced information is always important. We value EURACTIV's good, independent journalism and support this initiative
Mella Frewen, Director General of FoodDrinkEurope
EURACTIV plays a vital role in bringing Europe closer to its citizens. EURACTIV has long recognised that the story of Europe has to be told across the continent, and not just in Brussels. We need to support a truly European and informed debate.