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Bilateral II Agreement: Swiss Bankers Association welcomes permanent safeguarding of
client confidentiality
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Basel, 17 May 2004 - The Swiss Bankers Association (SBA) is satisfied that the
basic political agreement between Switzerland and the European Union permanently
safeguards bank client confidentiality in all important dossiers in the field of
finance. This is analogue to the solution agreed last year on the
taxation of savings income.
Switzerland has made a generous offer to the European Union with regard to the
Schengen/Dublin and, in particular, the fraud dossiers. With regard to the taxation of
savings income Switzerland already made a significant concession to the EU by offering to
levy a paying agent's tax.
Thanks to Switzerland's concession with regard to mutual assistance in criminal and
administrative matters in cases of offences involving indirect taxes, international
prosecution of serious offences has become less complicated. The Swiss banking industry
supports this arrangement which contributes further to strengthening the credibility and
integrity of the Swiss financial centre.
The political agreement arrived at must now be cemented in the forthcoming negotiation of
the relevant treaties. Only then will a final assessment of the agreements be possible.
| Contacts |
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| Thomas Sutter |
James Nason |
| Head of Communications Switzerland |
Head of International Communications |
Swiss Bankers Association,
Basel |
Swiss Bankers Association,
Basel |
| Tel. +41 61 295 92 06 |
Tel. +41 61 295 92 15 |
| Fax +41 61 272 53 82 |
Fax +41 61 272 53 82 |
 www.swissbanking.org |
www.swissbanking.org |
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Junior
Bank
